As New Regulations Sweep The Industry, Find Out Where The Next Big Opportunities Are

June 25, 2019
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Change is coming to the small business finance industry. Are new opportunities on the horizon? Be sure to find out when you attend one or both of these two great upcoming events! deBanked CONNECT Toronto | July 25, 2019 Less Than 30 Days Left! Tap into the vast opportunities in Canada. Meet the players, learn […]

Federal Lawmakers Not Convinced NY Confession of Judgment Ban is Enough

June 25, 2019
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The recent New York State law that effectively ended the era of Confessions of Judgment in the small business finance industry is apparently not enough to satiate the outrage of some federal lawmakers. This morning, Rep. Nydia M. Velázquez (D-NY) and Rep. Roger Marshall (R-KS) introduced the “Small Business Lending Fairness Act” that would outlaw […]

The Industrial Hemp and CBD Industries, and the Potential Risks for Merchant Cash Advance Funders

June 22, 2019
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Authored by Josh Herndon of Global Legal Law Firm It seems that we are constantly being bombarded by news of the growing industrial hemp and cannabidiol (more commonly known as “CBD”) industries. Indeed, industrial hemp (and products derived therefrom, such as CBD) is now legal, and these industries have experienced substantial growth that is expected […]

It’s Official, The Confession of Judgment Era is Over

June 19, 2019
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The New York State legislature passed a bill (S06395) late Thursday night that effectively eliminates Confessions of Judgment (COJ) in the small business finance industry. The Senate voted in favor 61-1. The Assembly voted in favor 83-43. The new law which goes into effect immediately after Governor Andrew Cuomo signs it, prohibits anyone from filing […]

Michele Romanow to Keynote deBanked CONNECT Toronto

June 18, 2019
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romanow

Michele Romanow, a TV star on Dragon’s Den and Co-founder of Clearbanc, will be the keynote speaker at deBanked CONNECT Toronto on July 25th. She joins other industry executives speaking at the event from across the business finance industry in Canada. Tech titan Michele Romanow is an engineer and a serial entrepreneur who started five […]

That’s All Folks! COJ Ban in New York May Pass on Wednesday

June 17, 2019
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The End

The New York legislature has until Wednesday night to pass two bills that would prohibit the use of COJs, one on out-of-state debtors entirely and the other from being used as a condition in a financial contract. Either or both would effectively outlaw their use in the small business finance industry in New York State. […]

Long Island Business Loan Brokers Arrested in Bust

June 13, 2019
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Suffolk County Police

The owner of a Long Island based ISO/loan brokerage and several employees have been arrested, Newsday reports. Demetrios Boudourakis, whom deBanked has previously reported on, is charged with grand larceny, money laundering and other crimes for his role in an advance fee loan scheme. Boudourakis allegedly led a fraud ring that stole more than $2 […]

Bitty Advance Opens Office in NYC

June 6, 2019
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bitty eddie siegel

Eddie Siegel, CEO, Bitty Advance Bitty Advance has expanded to midtown Manhattan. The company’s first location, in Fort Lauderdale, FL, will remain intact as the corporate office. “We wanted to have a New York presence to hire sales talent, underwriters and, of course, raise more capital because obviously this is  the mecca for finance,” said […]

Canadian Alternative Finance Event Calendar

May 28, 2019
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credit invisibles

Here’s what’s on the agenda this Summer for the Canadian alternative finance industry: June 5th Credit Invisibles Summit – Presented by the Canadian Lenders Association July 25th deBanked CONNECT Toronto – Presented by deBanked

Jonathan Braun Sentenced to 10 Years

May 28, 2019
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Fed courthouse Brooklyn

Jonathan Braun, who Bloomberg Businessweek profiled in a merchant cash advance story series, was sentenced to 10 years for drug related offenses this morning at the federal courthouse in Brooklyn. He will get credit for 17 months previously served in 2010 – 2011. He is scheduled to surrender on August 25th. Prior to the judge’s […]

Does The Borrower Even Exist? Image Algorithms, Site Inspectors Spot The Fakers

May 24, 2019
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snapshot

Their product research lab was the real deal. That’s what a business seeking capital hoped to convince a lender of when they snapped a photo of a $450,000 microscope and sent it over to underwriting along with two dozen other photos of their warehouse. Most of the pictures were genuine, but the microscope was not. […]

Lawyers: Earn CLE Credits While Learning About Alternative Finance

May 23, 2019
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AFBA CLEe

REGISTER HERE June 13 Sessions June 14 Sessions Case Law Updates Regulatory Download: The Complete Picture TCPA: Defining ATDS, Exploring the TCPA and How Emails are Covered Legislation, Business and Lobbying: How does it work and Does it work at all? Bankruptcy Updates Future Invoice Factoring and Traditional Factoring: Can’t We All Just Get Along? […]

BFS Capital Joins ILPA

May 23, 2019
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Ruddock

Mark Ruddock, CEO, BFS Capital The Innovation Lending Platform Association (ILPA), a group of online small business financing and service companies, announced today the addition of BFS Capital.  ILPA is known for creating the Straightforward Metrics Around Rate and Total Cost (SMART) Box. “We believe that transparency matters,” Ruddock told deBanked. “BFS Capital is committed […]

Canada’s Alternative Financing Market Is Taking Off

May 20, 2019
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Canadian dollars

This story appeared in deBanked’s May/June 2019 magazine issue. To receive copies in print, SUBSCRIBE FREE Canadians have been slow out of the gate when it comes to mass adoption of alternative financing, but times are changing, presenting opportunities and challenges for those who focus on this growing market. Historically, the Canadian credit market has […]

The Road Back to Residual Commissions

May 17, 2019
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money making machine

Phil Dushey, President, Global Financial Services “We’re still getting resids from a company 14 years later.” That’s what Phil Dushey said about a factoring client he has at Global Financial Services, a New York-based financial brokerage firm he founded. He was speaking at deBanked’s “Broker Fair” to a room filled mostly with MCA brokers. Years […]

Small Business Finance Broker Wins Entrepreneur Of The Year

May 17, 2019
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Sonia Alvelo Award at the Latinas & Power Symposium

Left: Latin Financial CEO Sonia Alvelo receives the Entrepreneur of the Year Award from Connecticut Secretary of State Denise Merrill Sonia Alvelo, CEO of Newington, CT-based Latin Financial LLC, has been awarded Entrepreneur of The Year by the Latinas & Power Symposium. The event, incubated in Hartford, Connecticut in 2004, is the largest of its […]

How To Scale Your Broker Shop

May 15, 2019
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Broker Fair 2019

Above: Will Murphy, Everlasting Capital When it comes to hiring, it’s quality over quantity. That’s what the co-founders of Everlasting Capital Josh Feinberg and Will Murphy told a packed room at deBanked’s Broker Fair last week. They presented a panel called “How to Scale Your Broker Shop,” where they shared tips on how to do […]

Merchant Relationship Status: It’s Complicated

May 14, 2019
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merchant relationship status

Brokers will often say that building strong relationships with their merchants is critical to their success. John Celifarco, Managing Partner at Horizon Financial Group, a five person ISO in Brooklyn, said that the advantage they have over larger competitors is the relationships they’ve developed with their merchants. Celifarco’s office is even in a streetfront store, […]

Broker Fair 2019 Makes Major Splash in the Heart of Manhattan

May 10, 2019
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Broker Fair Crowd

If a tiny ray of light were created from every conversation about small business financing, then the Roosevelt Hotel in midtown Manhattan would have been tantamount to the sun on May 6th. It was the site of deBanked’s 2nd annual Broker Fair and the grand old lobby was abuzz with brokers, funders and vendors from […]

Broker Fair 2019 Photos

May 10, 2019
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Broker Fair

If you share any of these on social media, please remember to include #brokerfair Enjoy!