Announcements

Smarter Loans Expands into Banking, Insurance, Investing, Money Transfers and Debt Relief Solutions

September 22, 2020
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Smarter Loans LogoSmarter Loans – Canada’s largest loan comparison website – is excited to announce their expansion into new financial categories that include: Everyday Banking, Insurance, Investing, Money Transfers, and Debt Relief.

Canadians nationwide use Smarter Loans to find the most innovative financial products and services in the country, compare their options, and make smarter financial decisions. Launched in 2016, Smarter Loans today works with over 80 of the top financial brands in Canada, including banks, credit unions, alternative lenders, financial services and innovative FinTech companies that are leading the digital transformation in the Canadian financial sector.

The expansion is another step by Smarter Loans in helping Canadians access more financial products online.

We believe that Smarter Loans is at the forefront in the evolution of how people want and expect to shop for financial products. There is a big shift towards buying online and companies that are setup to transact and sell their services on the Internet are winning. We work hard to seek out top financial brands and are really excited that Smarter Loans visitors can now find even financial solutions on our site. (Rafael)

It’s a great experience when a person can send money overseas, get life insurance, and open a savings account all from the comfort of their home or on their mobile device. Our mission is to highlight all of the great and reputable companies that offer Canadians that experience. (Vlad)

Smarter Loans has responded to the growing demand for digital financial products and services in Canada by securing working relationships with leading brands that offer financial services online, including chequing and savings accounts, investing solutions, insurance for personal and commercial coverage, international money transfers, debt relief and credit solutions.

The new categories are available to all new and existing Smarter Loans members, everywhere in Canada.

The new categories will help even more Canadians save time and money, and discover great companies that can help them with various financial needs, entirely online.

If you are a financial brand and are interested in discussing partnership opportunities please get in touch with Smarter Loans at: info@smarter.loans.

Lendini Relaxes Previously Announced Covid-Guidelines

September 9, 2020
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Bensalem, PA –September 9, 2020– Lendini is excited to announce its return to small business funding. Through superior efficiency and analysis, the company has improved the process of alternative funding from some of the brightest minds in finance, technology and analytics. With updated (temporary COVID-19) guidelines, they remain dedicated and committed to their merchants and ISOs in these unprecedented times.

Lendini works directly with you to prepare the best package for your client, whether that be a Business Cash Advance (BCA) or Merchant Cash Advance (MCA). Simply put, Lendini advances money based on the average monthly gross sales of a business or average monthly credit card sales. Money can be advanced quickly because securing assets and collateral is not required.

Get clients funded in 4 easy steps; application submission, information review, approval or denial, final review and your client is funded. Minimal documentation is required. The company must have 18 months in business with $7,500 per month in gross sales and an average daily balance of $750. We require a minimum of 5 deposits, monthly into the business bank account.

Funding Stipulations:

  • Bank login
  • Funding call with merchant

Required Documents:

  • Application
  • All 2020 business bank statements + MTD
  • Signed and dated agreement
  • Proof of business existence
  • Meets state registration requirements
  • Proof of ownership
  • Merchant interview
  • Driver’s license
  • Voided check (starter checks will not be accepted)

With $540 million dollars funded to 15,000 small businesses, Lendini offers incomparable solutions customized specifically for your client. The company prides itself in being able to offer up to $300,000 in as little as 1 business day (in most cases). Funding can be used for any business purpose you may have.

Lendini is not a bank and does not provide loans, they offer cash advances. With Lendini, business owners receive the capital they need without lengthy delays or excessive paperwork. In general, Lendini offers pre-approvals in under three hours and next day funding of approved advances. The staff provides unparalleled customer service and treats each business owner with the respect they deserve.

Lendini is Back

September 2, 2020
Article by:

Lendini LogoBensalem, PA –September 3, 2020Lendini is excited to announce its return to small business funding. Through superior efficiency and analysis, the company has improved the process of alternative funding from some of the brightest minds in finance, technology and analytics. With updated (temporary COVID-19) guidelines, they remain dedicated and committed to their merchants and ISOs in these unprecedented times.

Lendini works directly with you to prepare the best package for your client, whether that be a Business Cash Advance (BCA) or Merchant Cash Advance (MCA). Simply put, Lendini advances money based on the average monthly gross sales of a business or average monthly credit card sales. Money can be advanced quickly because securing assets and collateral is not required.

Get clients funded in 4 easy steps; application submission, information review, approval or denial, final review and your client is funded. Minimal documentation is required. The company must have 18 months in business with $7,500 per month in gross sales and an average daily balance of $750. We require a minimum of 5 deposits, monthly into the business bank account.

Funding Stipulations:

  • Bank login
  • Funding call with merchant

Required Documents:

  • Application
  • All 2020 business bank statements + MTD
  • Signed and dated agreement
  • Proof of business existence
  • Meets state registration requirements
  • Proof of ownership
  • Merchant interview
  • Driver’s license
  • Voided check (starter checks will not be accepted)

Industries accepted:

  • Restaurants (with takeout)
  • Pharmacies
  • Healthcare
  • Manufacturing
  • Transportation (freight)
  • Healthcare (primary care)
  • Automotive repair
  • Grocery stores

With $540 million dollars funded to 15,000 small businesses, Lendini offers incomparable solutions customized specifically for your client. The company prides itself in being able to offer up to $300,000 in as little as 1 business day (in most cases). Funding can be used for any business purpose you may have.

Lendini is not a bank and does not provide loans, they offer cash advances. With Lendini, business owners receive the capital they need without lengthy delays or excessive paperwork. In general, Lendini offers pre-approvals in under three hours and next day funding of approved advances. The staff provides unparalleled customer service and treats each business owner with the respect they deserve.

IOU Financial Has Applied to Become a PPP Lender

April 10, 2020
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IOU Financial applied to become a PPP lender on Thursday, according to a note posted to social media by President and COO Robert Gloer.

“We are all hoping the SBA will be able to quickly get FinTech lenders up and running. We have helped thousands of Small Businesses Nationwide since 2009. We are built to deploy capital efficiently and expeditiously,” he added.

Trump Pledges Immediate SBA Lending Support

March 11, 2020
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President TrumpPresident Trump pledged to support SBA lending through ramped-up low interest loans to small businesses that are suffering or may suffer from a decline in business due to recent public health fears. Additionally the President says that he will make or ask Congress to impose a degree of tax relief to those affected.

More information about the plans will be published as they become available. The President’s speech was made at 9pm EST in which he announced broad preventative and relief measures including a 30-day ban from all European travelers (excluding the UK).

DataMerch.com to Release Updated Version 2.0 of Online Database

March 10, 2020
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DataMerch develops refreshed version of online database and updates records count

Tampa, March 10th, 2020 /DeBanked/ — DataMerch.com, an online underwriting database for the alternative financing industry, announced they will be releasing version 2.0 in March 2020. DataMerch has designed a refreshed look of the site with improved the functionality. DataMerch took these steps to position themselves for better scalability as their database record count continues to grow past 40,000.

“We’re launching the new version of DataMerch to improve the scalability and features for our funder members,” said Co-Founder Scott Williams. “The new version will allow us to add new features and make changes quicker than before.” When asked what will be different about version 2.0, Mr. Williams responded, “We have a new updated look that I think our members will appreciate. We’ve automated the recent suspicious activity alerts that will now be viewable from the dashboard. We’ve also added an analytics tab that allows our members to see their number of searches, hits, entries, and more. This will allow our members to see in real time the business benefits of DataMerch and their contributions.”

DataMerch leadership say they will continue to invest in developing the functionality of DataMerch and add features that are relevant to their members. They plan to add billing and invoice functions, bulk automated uploads, and updated API version in 2020.

About DataMerch

DataMerch LLC was founded in 2015 to help funders in the alternative financing industry make informed underwriting decisions. DataMerch members can screen their applications using DataMerch’s specifically designed FEIN search and enter unsatisfactory businesses into the database. DataMerch currently has over 100 industry-leading subscribed members working together as a community. DataMerch can be accessed at https://www.datamerch.com and contacted for membership at support@datamerch.com

Kabbage Launches Kabbage Insights™, Allowing Small Businesses To Take Control of Their Cash Flow With Just a Few Clicks

March 4, 2020
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The free tool gives U.S. small businesses 24/7 analysis of their upcoming cash position

ATLANTA – March 4, 2020Kabbage, Inc. today launched Kabbage Insights, a fully automated tool that calculates and predicts cash-flow patterns to help small businesses identify cash surpluses and deficits. With the launch, Kabbage addresses one of the most vexing problems faced by small business owners. The new product comes just one month after the public launch of Kabbage Payments™, continuing the company’s rapid innovation to build a suite of integrated products that simplify cash-flow management for U.S. small businesses.

In less than 10 minutes, any small business can connect their real-time financial data to Kabbage Insights and access an analysis of their company’s historical, current and future cash-flow 24/7. The product continually evaluates the transaction activity of a customer over a 90-day period and organizes it in an easy-to-understand dashboard, allowing customers to quickly visualize their net growth without taking the time to calculate it themselves. Kabbage’s customer base of over 220,000 small businesses has immediate access.

As a leader in predictive analytics and artificial intelligence for small businesses, Kabbage Insights produces personalized forecasts to predict the future cash position of a business. Customers can then set a desired low-balance threshold and receive automated alerts if accounts are predicted to dip below it, empowering small businesses to identify, act upon and prevent cash deficits before they occur.

Paired with the Kabbage Small Business Revenue Index, Kabbage Insights is also the first product available that allows small businesses to compare their company’s performance to similarly-sized businesses operating in their state and industry. The result is an unparalleled cash-flow tool that’s free for small businesses, helping them to anticipate changes, benchmark their growth, plan ahead and make more confident business decisions like when to cut expenses, invest or borrow.

With Kabbage Insights, small businesses can:

  • Review cash-flow on the go via the intuitive mobile dashboard.
  • Analyze daily performance and review money movement at a glance.
  • Borrow strategically with forecast data to inform funding decisions.
  • Save time, as studies show 91 percent of small business owners spend as many as 20 hours per week manually calculating cash flow.

“As a small business owner for many years, I spent many sleepless nights trying to figure out whether I’d have the cash to pay my various expenses, including payroll at the end of the month and it’s been a mission of mine to solve this ubiquitous problem for all small business owners ever since,” said Kabbage CEO Rob Frohwein. “Kabbage is pleased to launch Insights, taking on this burden for small business owners and providing them with cash flow analyses that large enterprises have at their fingertips. We will continue to level the playing field for the small business owner.”

About Kabbage

Kabbage, Inc., headquartered in Atlanta, is a data and technology company providing
small businesses cash flow solutions. Its suite of products includes Kabbage Payments, helping small businesses get paid and access the money they earn faster, Kabbage Funding, providing access to flexible lines of credit in minutes, and Kabbage Insights, a powerful and predictive tool to calculate cash flow. To date, Kabbage has provided more than 220,000 U.S. small businesses access to over $9 billion of working capital. Kabbage is funded and backed by leading investors, including the SoftBank Vision Fund, BlueRun Ventures, WildCast Venture Partners, Thomvest Ventures and others. All Kabbage U.S.-based loans are issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC. Kabbage Payments, LLC, a subsidiary of Kabbage, Inc., is a registered Payment Service Provider/Payment Facilitator sponsored by Fifth ThirdBank, N.A., Cincinnati, OH. For more information, please visit www.kabbage.com.

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Funding Metrics Announces New $100 Million Revolving Credit Facility

March 4, 2020
Article by:

Funding Metrics

Bensalem, PA, March 4, 2020 – Funding Metrics, LLC (the “Company”) announced today the closing of a new $100 million revolving credit facility with a multi-billion dollar institutional credit fund. The Company will use the funds to expand and accelerate the growth of its small business funding platform. Brean Capital served as exclusive financial advisor to the Company on the transaction.

“We are very pleased to announce this new $100 million facility, which will allow us to significantly expand our ability to provide funding to the growing small business community across the United States,” said Co-Founder, Chairman and Chief Executive Officer, David Frascella. “This new facility represents an exciting milestone in our continued growth. Funding Metrics has tripled its origination volume since 2017, totaling over $500 million since company inception. I am very proud of the robust funding platform our team has created, the strong relationships we have developed with our independent sales organization partners, and especially the trust placed in us by our merchants. Funding Metrics has created a best of breed technology based platform allowing most funding offers to be sent in under three hours.”

Additional capital provided by the facility will allow Funding Metrics to capitalize on growth opportunities in 2020 and beyond as well as on the extensive infrastructure of people and technology it has built over the last few years. Mr. Frascella added, “We look forward to additional submissions from the ISO network and funding the next wave of small business leaders nationwide.”

About Funding Metrics

Funding Metrics is a leading data and analytics driven online provider of funding for small businesses throughout the United States. The Company uses proprietary risk models combined with real-time cash flow data to evaluate business performance and provides growth capital for entrepreneurs in a fast and efficient way through its two online brands, Lendini and QuickFix Capital. Since 2014, the Funding Metrics has provided over $500 million in funding to more than 9,500 small businesses in all 50 states. The Company is headquartered in Bensalem, PA, with additional offices in Jersey City, NJ and San Jose, Costa Rica.

For more information, please visit: www.fundingmetrics.com

For more information / questions / interview requests / media inquiries, please contact:

David Frascella

Email: info@fundingmetrics.com | Phone: 855-212-6610

Craig Hecker Acquires Stake in Bitty Advance

February 21, 2020
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Edward Siegel - Craig Hecker - Bitty AdvanceFort Lauderdale FL – February 21, 2020: Craig Hecker has acquired an equity stake in Bitty Advance.

Hecker is a pioneer and leader in the merchant cash advance industry who founded, grew, and sold Rapid Capital Funding.

Bitty Advance CEO Edward Siegel first crossed paths with Hecker in 2009 when Siegel was employed by Rapid Capital Funding. Siegel since then went on to launch Bitty Advance in 2017 to cater exclusively to small businesses that generate less than $100,000 in annual revenue.

Hecker will be providing valuable thought leadership and capital to help Bitty continue to grow and become the leader in the space.

“I am thrilled to bring on Craig with all of his MCA experience and his creative thinking to help scale Bitty’s growth,” Siegel says.

The start of the partnership was memorialized with a video, attached below.

About Bitty Advance

Bitty Advance was founded in 2017 and is based in Fort Lauderdale, FL. To reach the company, call 800-324-3863 or email partners@bittyadvance.com.

Broker Fair 2020 Announces Two Special Keynote Speakers

January 17, 2020
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Two special guests will speak at Broker Fair 2020 on May 18th in New York City. Scott Rasmussen and John Henry will complement a roster of leading professionals from the commercial finance industry. Broker Fair 2020 will be deBanked’s largest ever event.

TICKETS ARE ON SALE NOW AND EARLY BIRD PRICING IS STILL AVAILABLE!

Scott Rasmussen

John Henry

TBF Financial buys $100 million of charged-off loans, leases and merchant cash advances from fintechs, banks, lessors

January 14, 2020
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DEERFIELD, IL, Jan. 14, 2020 – Commercial debt sales by fintech lenders, equipment leasing companies and banks are on the rise, with major companies striking deals to sell non-performing loans, leases and merchant cash advances after charge-off, reports Brett Boehm, CEO of TBF Financial.

TBF closed transactions in December totaling $100 million. The three largest deals were with a leading e-commerce company that acquired and liquidated a merchant cash advance business; a captive leasing company that provides financing for transportation equipment and other assets; and one of the 20 largest banks in the nation.

“One reason for the rise in commercial debt selling is the tremendous growth of online alternative lenders,” he explains. “As their business originations have increased, so have the number of accounts that eventually default. By selling commercial debt at charge-off instead of spending years trying to collect it, they can put that money back into making loans and merchant cash advances where they generate a much better return.”

“Other lenders and lessors also recognize that it is more productive to concentrate on their core business rather than chase collections past charge-off,” he adds. “Selling commercial debt provides immediate cash and allows collections personnel to focus on accounts that are more likely to be recovered, earlier in the past-due cycle.”

While the December deals may additionally reflect the eagerness of companies to bring in cash before year’s end, Boehm says prospective deals in the pipeline remain high in January, and he anticipates a busy first quarter 2020.

About TBF Financial

TBF Financial is the leading purchaser of non-performing equipment leases, commercial bank loans, online small business loans and merchant cash advances in the U.S. Founded in 1998, the company buys commercial accounts up to four years old from the date of last payment. This includes equipment leases, loans and lines of credit that have personal guarantees, no personal guarantees, are secured, unsecured, pre-agency, post-agency, pre-litigation, and reduced to judgment. For more information, visit tbfgroup.com or contact Brett Boehm, CEO at bboehm@tbfgroup.com, 847-267-0660 or via LinkedIn.

Media Contact: 

Carla Young Harrington

Susan Carol Creative for TBF Financial

540.479.7835

carla@scapr.com

CAN Capital Announces New CCO

October 15, 2019
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We are proud to announce that we have hired David Lafferty as CAN Capital’s new Chief Credit Officer (CCO.) Lafferty brings his expertise in commercial lending, business development, operational planning and profit & loss management to the CAN Capital team.

Lafferty has over twenty years of proven experience providing financial services to small businesses. He is the former Vice President of Capital Markets and Credit and Risk Management at Marlin Business Bank. In that role, he has assisted small businesses in obtaining the capital they need to operate and grow, with a special focus on helping businesses finance the lease or purchase of equipment. Lafferty is a graduate of Pennsylvania State University, and a member of the Equipment Leasing and Financing Association (ELFA) Small Ticket Advisory Council.

“I have focused my entire career on serving the small business owner as they are the backbone of the United States economy. Being given the opportunity to join this team in a time when the company is experiencing rapid growth and gaining significant market share is extremely exciting. I am really looking forward to joining an already very talented workforce as we take CAN Capital to the next level,” said Lafferty.

Ed Siciliano, CAN’s CEO, had this to say about the new hire: “I’m very excited to welcome Dave to CAN Capital. He will be joining a strong group of talented people focused on Risk and Credit Underwriting and applying his deep experience in small business lending to calibrate CAN’s 20-year proven credit models. We all welcome Dave and feel fortunate to have him join.”

A Philadelphia native who now resides in New Jersey, Lafferty is the proud father of twin sons. When he isn’t helping small businesses succeed, you’ll find Lafferty golfing or riding motorcycles, or on the water boating and fishing in Punta Gorda Isles, Florida.

Please join us in welcoming new CCO David Lafferty, who, along with our dedicated group of CAN Capital team members, is ready to support our mission of helping every small business succeed.

About CAN Capital

CAN Capital, Inc., established in 1998, is the pioneer in alternative small business finance, having provided access to over $7 billion in capital for over 81,000 small businesses in a wide range of locations and different business types. As a technology powered financial services provider, CAN Capital uses innovative and proprietary risk models combined with daily performance data to evaluate business performance and facilitate access to capital for entrepreneurs in a fast and efficient way.

CAN Capital, Inc. makes capital available to businesses through business loans made by WebBank, member FDIC, and through Merchant Cash Advances made by CAN Capital’s subsidiary CAN Capital Merchant Services, Inc. ©2019 CAN Capital. All rights reserved

Media Contact: Carey Kirk, 678-858-6911, ckirk@cancapital.com

BFS Capital Eliminates Upfront Fees to Simplify Financing for Small Business Owners

October 1, 2019
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Enhanced website streamlines lead-to-loan process for customers and partners

BFS Capital LogoCORAL SPRINGS, FLA. (Oct. 1, 2019)—BFS Capital, a leader in small business financing, today announced it has eliminated all upfront fees on its financing solutions, including loans and business advances, as it simplifies pricing for small business owners.

With pricing that is transparent, flexible and easy to understand, BFS Capital is leading the evolution of small business financing. BFS Capital customers can now apply for and receive up to $500,000 in financing with no origination fees, no processing fees and no upfront costs. Customers are able to pay back a loan with a fixed daily or weekly payment, or as a flexible payment calculated as a percentage of credit card sales.

“There will be no hidden costs or unexpected surprises. What customers borrow is what gets funded into their accounts,” said BFS Capital CEO Mark Ruddock. “We are committed to empowering small businesses by meeting their needs with straightforward, cost-effective and timely online financing, whether it be to smooth cash flow, invest in adding staff, purchase equipment or upgrade a space.”

BFS WebsiteBFS Capital is also preparing to roll out a new, state-of-the-art digital lending platform. Over the next few weeks, the BFSCapital.com website will showcase a refreshed brand and exciting advances in automation across the entire loan application and approval process.

Partners, including Independent Sales Organizations (ISOs) that match small businesses to BFS Capital’s financing solutions, will also benefit from the company’s new no fee product proposition, evolving digital capabilities and dedication to transparency. ISOs and partners will soon have real-time visibility into the status of their leads across the entire customer relationship lifecycle, from the initial application through the life of the loan and beyond.

“As we embark on our mission of reimagining small business financial services, we are reinforcing support for our partners with API integration and faster, fully underwritten personalized offers, all complemented by market-leading pricing and commissions,” Ruddock added.

BFS Capital has over a decade long history of helping small business owners thrive and has provided more than $2 billion in financing. To qualify, businesses must be in operations for at least two years and generate at least $12,000 in monthly revenue. More than 23,000 businesses have been funded by BFS Capital across 400 industries.

To learn more, please visit BFSCapital.com.

About BFS Capital

BFS Capital champions the long-term growth and prosperity of small businesses by providing timely, flexible financing solutions. BFS Capital’s leading small business financing platform leverages customized underwriting and proprietary algorithms to fund businesses in the United States, Canada, and through its United Kingdom subsidiary, Boost Capital. Since 2002, BFS Capital has provided over $2 billion in total financing to over 23,000 small businesses across more than 400 industries. Headquartered in South Florida with offices in New York, California and the United Kingdom, BFS Capital is an accredited BBB company with an A+ rating.

Media Contact
Archie Group for BFS Capital
Gregory Papajohn
gregory@archiegroup.com
917.287.3626

Nationwide Management Services Adds New Features To Its Virtual Site Inspections

September 20, 2019
Article by:

John MarshMARICOPA, Arizona, September 20, 2019— Nationwide Management Services Inc. (NMSI) announced two new features have been added to its Virtual Site Inspection Software that will change the merchant cash advance and small business lending industries. NMSI’s new features are Pinch to Zoom/Remote Synchronized Zoom and Text Extract using OCR (Optical Character Recognition).

With Pinch to Zoom you can touch the screen with two fingers and expand/collapse the distance between your fingers and the image zooms in and out. Also, you can move the image right, left, up, or down to focus exactly where you want to focus. Remote Synchronized Zoom allows participants to be simultaneously zoomed based on the mobile device, the user can choose zoom 2x or 3x.

Text Extract using OCR allows the use of optical character recognition to capture alphanumeric sequences to help eliminate typos. For example, a user can capture the MAC address or serial number of a device by copying it to their device/systems clipboard and then paste it wherever needed.

Millions of dollars are lost every year due to merchant fraud. NMSI is at the forefront of this technology and provide its clients with Virtual Site Inspection services that are easy, fast, and secure. In fact, this service can save time and allow Merchant Cash Advance Providers and their underwriters to fund deals quickly.

Important features that set the virtual site inspections apart from other competing services are online chat, SMS messaging, sharing of images, videos and documents, the ability to add single and group participants, screen share to multiple devices, private notes, capture still frame, collaborate markup of images, high-resolution photos, GPS tag location every 10 seconds, recording of the video session, and OCR to capture Serial numbers, Model numbers, and VIN numbers.

“Our proactive approach exemplifies our commitment in providing the small business lending industry the best in class virtual software in the marketplace,” said John Marsh, Chief Executive Officer for NMSI. “Our Virtual Site Inspections provide our clients with the risk management they desire. NMSI continues to lead the way in providing outstanding services to our clients.”

For more information about our Free Virtual Site Inspections, you may visit: https://debanked.com/nationwidemsi/

About Nationwide Management Services Inc.

Nationwide Management Services Inc. is a Veteran owned business established in 2005. NMSI is based in Arizona and specializes in Virtual Site Inspection and Face to Face contact (Door knocks).

SOURCE Nationwide Management Services Inc.

# # #

nationwide management services

Media Contact:
John Marsh
President
Nationwide Management Services, Inc.
520.840.4583
info@nationwidemsi.com
www.nationwidemsi.com

TBF Financial Buys $60 Million in Commercial Debt from Major Online Lender

September 10, 2019
Article by:

brett boehmDEERFIELD, IL, Sept. 10, 2019TBF Financial purchased nearly $60 million in non-performing loans from a major online small business lender in recent transactions, CEO Brett Boehm announced today.

TBF bought the pools of post-charge-off loans as the highest bidder in transactions arranged through multiple brokers. In most cases, the company purchases directly from alternative lenders, equipment leasing companies and banks.

“We are seeing growing interest from online lenders who want to sell off commercial debt this year. It’s a smart strategy in any economic cycle because it provides lenders and lessors with immediate cash and a way to accelerate recoveries while protecting their customer relationships.  Concerns about an economic slowdown are another reason for growing interest in commercial debt sales, as companies prepare to handle a rise in delinquencies and defaults,” Boehm said.

In the most recent deal, the $60 million in transactions included non-performing loans that had not previously been handled by collection agencies as well as post-agency accounts.

TBF Financial is the leading purchaser of non-performing equipment leases, commercial bank loans and online small business loans in the U.S. The company buys commercial accounts up to 4 years old from the date of last payment. This includes equipment leases, loans and lines of credit that have personal guarantees, no personal guarantees, are secured, unsecured, pre-agency, post-agency, pre-litigation and reduced to judgment.

Just as fintechs launched a new industry, TBF created its own industry. When the company started in 1998, there were no businesses buying lease charge-offs on a consistent basis. The principals of TBF believed that they could buy charged-off equipment leases at an attractive price that would also provide TBF with a margin of profit. The equipment finance industry embraced the new services. Since then, TBF has broadened the commercial paper it buys to include commercial bank loans and lines of credit.

The company remains at the forefront of commercial debt buying for the finance industry. For more information, visit tbfgroup.com or contact Boehm at bboehm@tbfgroup.com, 847-267-0660 or via LinkedIn.

Media Contact:
Carla Young Harrington
Susan Carol Creative for TBF Financial
540.479.7835
carla@scapr.com

Lending Valley Originates Over 100 Micro Deals in Debut

September 6, 2019
Article by:

chad otar of lending valleyBrooklyn, NY – Lending Valley has originated 100 fundings to small businesses since the company’s debut in early June. The company was founded by small business finance veteran Chad Otar, the former CEO and co-founder of Excel Capital Management. Lending Valley focuses on micro funding deals of $1,500 to $10,000 with a variety of available payment structures. Otar is a Forbes Finance Council Member.

“We saw that the micro advances market needed another player and our goal is to help merchants’ businesses, not hurt them, and make it as easy as possible for them to obtain the capital and to be able to get them to the next step in their business venture,” Otar said. “Lending Valley is backed by years of industry knowledge and a diverse team that can provide the best support possible.”

About Lending Valley

Lending Valley was founded in New York City by Chad Otar. Otar is a member of the Forbes Finance Council. To learn more about Lending Valley, visit https://www.lendingvalley.com or call 866-888-3051.

Lending Valley Logo

Clearbanc Raises $300M in a Series B

July 31, 2019
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Michele Romanow  speaks at deBanked CONNECT Toronto

Above: Clearbanc President & co-founder Michele Romanow speaks at deBanked CONNECT Toronto | July 25, 2019

Toronto-based Clearbanc, a company founded on the idea of providing business owners with capital to purchase facebook and instagram ads in exchange for a percentage of their future sales, has raised $300M in a Series B. $50M of it is an equity investment led by Highland Capital. The other $250M will go into a fund that Clearbanc uses to fund small businesses, according to Fortune.

Clearbanc’s payment methodology is reminiscent of merchant cash advances and their factor rates range between 6% and 12.5%. Funding amounts range from $10,000 to $10M and the company is reportedly on track to fund $1 billion to small businesses.

Clearbanc President and co-founder Michele Romanow is a serial entrepreneur that is also a celebrity investor on the TV show series Dragon’s Den. She attributes the idea for Clearbanc to her experience on the show in which entrepreneurs were inappropriately seeking venture capital when it was really a specific type of working capital they needed, funds to advertise on facebook or instagram, for example.

The company was founded in 2015 in Toronto.

Early Bird Ticket Pricing To deBanked CONNECT San Diego Ends Soon!

July 26, 2019
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deBanked CONNECT Toronto was a hit and photos and coverage of the event will be available soon. But in the meantime there’s only SIX DAYS LEFT of early bird pricing to deBanked CONNECT San Diego! This event is taking place at the Hard Rock Hotel in October 24th. Brokers get in with a discounted price.

YOU CAN REGISTER HERE

deBanked CONNECT Toronto Kicks Off Today

July 25, 2019
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Welcome to The Omni King Edward Hotel


Don’t be late!  Registration and networking starts at 1:30pm at The Omni King Edward Hotel in Toronto.   

Schedule of events:

1:30 pm – 3:00pm Registration + Networking + Meet Our Sponsors – Prefunction, 17th Floor
3:00 pm – 6:00 pm General Sessions – Crystal Ballroom, 17th Floor
6:00 pm – 8:00 pm Networking Reception – Prefunction, 17th Floor

Click to view the agenda.

Get to know our speakers.

Be sure to introduce yourselves to each of our sponsors and listen to our great speakers.

Questions? Email: Events@debanked.com

SPONSORS
WWW.DEBANKEDCANADA.COM



–> Register for the next deBanked event in San Diego <--

OnDeck Taps Bank Veteran to Lead ODX Sales and Strategy

July 23, 2019
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BBVA USA Veteran Lonnie Hayes Joins New Business Unit Serving Banks

Lonnie HayesNEW YORK – OnDeck® (NYSE: ONDK), the leader in online lending for small business, today announced the appointment of Lonnie Hayes as the Head of Sales and Strategy for ODX, a wholly owned subsidiary of OnDeck that assists banks with streamlining and digitizing small business credit origination.

Mr. Hayes brings more than thirty years of experience to his new role. He most recently served as Executive Vice President of Small Business for BBVA USA, where he established the organization’s U.S. strategy to serve businesses with less than $10 million in annual revenues. At BBVA USA, Mr. Hayes oversaw product development, digital and sales operations, as well as leading the bank’s nationally recognized Small Business Administration (SBA) lending unit.

“Lonnie’s proven track record building and managing high-growth sales organizations and programs will be crucial as we continue to address the market from banks seeking enhanced digital lending capabilities,” said Brian Geary, President, ODX. “Lonnie will be a tremendous asset to our team as we engage financial institutions to help them accelerate their ability to serve small businesses.”

“I am excited to join ODX, the pioneer in digitizing and speeding the online lending experience for banks,” said Lonnie Hayes, Head of Sales and Strategy, ODX. “I hope to bring a banker’s perspective to our partnership efforts and look forward to collaborating with bank colleagues old and new, to strengthen the economics of small business lending while dramatically improving the customer experience for borrowers.”

ODX operates as a subsidiary of OnDeck and offers a combination of software, analytic insights, and professional services to help banks reinvent their small business lending process. At the core of the ODX solution is a modular, scalable, and reliable SaaS platform that allows banks to either create a fully end-to-end digital experience for their customers or to select certain components for specific product functions. An ODX-powered bank platform experience can enable a small business customer to apply for financing from their bank online, receive immediate decisions, and obtain funding in as fast as 24 hours.

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About OnDeck
OnDeck (NYSE: ONDK) is the proven leader in transparent and responsible online lending to small business. Founded in 2006, the company pioneered the use of data analytics and digital technology to make real-time lending decisions and deliver capital rapidly to small businesses online. Today, OnDeck offers a wide range of term loans and lines of credit customized for the needs of small business owners. The company also offers bank clients a comprehensive technology and services platform that facilitates online lending to small business customers through ODX, a wholly-owned subsidiary. OnDeck has provided over $11 billion in loans to customers in 700 different industries across the United States, Canada and Australia. The company has an A+ rating with the Better Business Bureau and is rated 5 stars by Trustpilot. For more information, visit www.ondeck.com.

Media Contact:
Jim Larkin
OnDeck
jlarkin@ondeck.com
P: 203-526-7457

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OnDeck
sklimas@ondeck.com
P: (646) 668-3582

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