Announcements
Velocity Group USA Announces $100 Million Equity Facility
June 13, 2019Melville, NY – June 13, 2019
Velocity Group USA, based in Melville, New York, announces that in addition to its current facilities, it has obtained up to a $100 million equity facility from an international multi-family office.
The new equity facility will allow Velocity Group USA to fund a greater number of merchants and to explore new financing opportunities. Velocity Group
USA uses a proprietary software platform whereby it can provide merchant advance approvals in under an hour. Velocity Group USA has an approval rate of 46%. Founded in 2017, Velocity Group USA is 100% focused on providing financial support for their clients’ businesses. In 2018 Velocity Group USA increased staff by over 400% to over 50 employees, moved to a new class A 11,000 sq. ft. office and since inception has funded over $60 million, to over 1,000 US business owners. The company is experiencing continued exponential growth in 2019.
Velocity Group USA is ready, willing and able to help the small business merchants not only sustain but thrive in today’s uncertain economy.
To learn more, visit www.velocitygroupusa.com or contact
Organization: Velocity Group USA
Address: 290 Broadhollow Rd, Melville, NY, 11747
Email: info@velocitygroupusa.com
Phone: 631-201-0703
IOU Originates $32.8M in Loans in Q1
May 30, 2019IOU Financial funded $32.8M in loans in the first quarter of 2019, according to publicly filed financial statements. The company also continued its profitable streak and plans to grow originations by:
- Identifying, recruiting and partnering with business loan brokers;
- Forming new strategic partnerships with entities such as banks and small business suppliers and leveraging their relationships with small businesses to add new customers;
- Expanding its product offering to allow it to serve small businesses whose needs are not met by its current products;
- Investing in direct marketing and sales; and
- Continuing its expansion into Canada.
Liquid FSI Partners With Stackfolio
May 28, 2019
Liquid FSI announced today that it has entered into a joint venture with Stackfolio, an online loan marketplace, which allows small banks, hedge funds and credit unions to buy and sell loans. Liquid FSI funds mostly doctor’s offices, as a factor, and it also builds financial technology products to make it easier to fund healthcare providers.
Through this new partnership with Stackfolio, all of Liquid FSI’s applicants will now automatically be posted to Stackfolio’s marketplace. Since Liquid FSI is a funder, why send deals to the competition?
“Just like there’s a college for everyone, there’s a loan [or type of funding] for everyone,” said CEO of Liquid FSI Frank Capozza.
And for deals that come from Liquid FSI but are funded elsewhere on the Stackfolio marketplace, Liquid FSI will get an origination fee and a transaction fee.
Capozza said that their proprietary technology gives banks a far clearer picture of the finances of medical offices, which can be risky to fund because insurance companies often pay a fraction of what doctors bill.
“Now they don’t have to turn business away,” Capozza said of banks that have declined medical offices because of imprecise data which he says Liquid FSI provides.
From Stackfolio’s CEO, Pavleen Thukral, “We are excited for this new partnership with Liquid FSI. It not only aligns our view of the loan trading and origination markets moving online, but more critically for our clients, it helps fill a loan growth gap with commercial and industrial customer opportunities in the healthcare industry.”
In conjunction with this new partnership, Capozza said that he is in final talks with a 55-person, California-based brokerage that will help increase medical office applications to Stackfolio, via Liquid FSI.
“We’re the acquisition engine,” Capozza said.
He said that this brokerage, to be announced at the end of the week, will have its people on the phone and on the ground (i.e., pitching doctors in their offices). Brokers will get a percentage of the origination and residuals on monthly factoring transactions.
Lawyers: Earn CLE Credits While Learning About Alternative Finance
May 23, 2019
| 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? |
| Securities: A Lesson from Bitcoin and Recent Industry Case Law | Clean Contracts: Merchant Agreements, Inter-Creditor Agreements and ISO Agreements: What you MUST know to keep up with the times |
| Inside the UCC with Bob Zadek | |
| Collections in a Post Bloomberg World | |
| Ethics: Conflicts of Interest | |
| *Evening Social event at Lucky Strike in Manhattan Food, drinks and bowling! 7:00pm – 9:00pm* | *Rooftop Cocktail Reception, Castell Rooftop Lounge 3:00pm – 5:00pm* |
Admission Price List:
Admission for Members: $75
2-Day Ticket Includes:
- Day One: breakfast and lunch during the full day of panels. Evening at Lucky Strike with food and drinks.
- Day Two : Three panel discussions, lunch and cocktail hour immediately to follow.
Non-Member Attorneys $250.00 for the 2 day ticket
Non-Member Attorneys $150.00 for a 1 day ticket
(may only attend one of the two days.)
Corporate Guests (Day Two only) $150.00
Featuring the Following Speakers:
- Christopher Murray, Esq.
- Patrick Siegfried, Esq.
- William Molinski, Esq.
- Natalie Nahabet, Esq.
- David Fuad, Esq.
- Kate Fisher, Esq.
- Jamie Polon, Esq.
- Thomas Telesca, Esq.
- Richard J. Zack, Esq.
- Robert Zadek, Esq.
- Richard Simon, Esq.
- Anthony Giuliano, Esq.
- Mark Dabertin, Esq.
- Gregory Nowak, Esq.
Email Lindsey Rohan: lindsey@lrohanlaw.com
A deBanked Event is Coming to Canada
May 4, 2019Toronto, Ontario – deBanked is coming to Canada. A deBanked CONNECT networking event will be taking place at the Omni King Edward in Toronto on July 25th. The event will cater to the Canadian online small business lending and merchant cash advance industry. Tickets are already available for sale at https://www.debankedcanada.com. Early bird pricing is available until May 30th.
Conference President Sean Murray said of the event, “We have had a lot of success with events for this market in the United States and I believe we can provide value in Canada where the industry has many similarities. Tickets and sponsorships are priced in Canadian dollars.”
Registration on July 25th will begin at 1:30pm and the event continues all day until 8pm. The conference has a special discount room rate at the Omni King Edward that is available until June 24th. Book using group name: deBanked CONNECT Toronto.
About deBanked CONNECT Toronto
deBanked CONNECT events are produced by Foinse, LLC, a Delaware, USA organization. Foinse is registered under Canadian BN: 700629710. Prior events have been hosted in New York City, Miami, and San Diego. To learn more, email events@debanked.com or call 917-722-0808. Register for the event online at https://www.debankedcanada.com.
Shopify Capital Issued $87.8M in Merchant Cash Advances in Q1
April 30, 2019Shopify’s small business funding division, Shopify Capital, issued $87.8 million in merchant cash advances in the first quarter of 2019, according to the company’s earnings report. The figure is a 45% increase over the same period last year. Overall, the company has funded more than $535 million in MCAs since inception.
Shopify is primarily an e-commerce platform, but they are quickly becoming a competitor to both Square and PayPal, both of whom also offer funding solutions.
Yalber Announces $20 Million Credit Facility
March 26, 2019
Yalber announced today that they have obtained a new $20 million credit facility from Park Cities Asset Management. Brean Capital served as exclusive financial advisor to Yalber on the transaction. This follows an earlier $20 million credit facility in December 2018 from a different investment fund.
“The small business funding space has drastically changed in the past two years,” said Yalber CEO Amir Landsman. “We see more and more sophisticated players in the space and to me, it’s a sign that the industry is on the right track to be the major funding source of businesses in America. Being able to close two facilities within 15 months is strong evidence that Yalber has a lot to offer.”
Yalber provides American small businesses with royalty-based investments. They can fund small businesses with up to $500,000. Founded in 2007, the company is an early player in the alternative lending space and is unique in that it generates 90 percent of its business in-house. Less than 10 percent of their leads come from ISOs, although they do look to build relationships with high quality ISOs, according to Yalber COO Amotz Segal.
Segal said that, aside from business with ISOs, all of their marketing efforts are internal and span from social media to local advertising on radio, TV and in newspapers. Yalber does not use direct mail and does not pay for leads.
“It makes the job for our salespeople a little easier because they’re not making cold calls,” Segal told deBanked. “We [mostly] get incoming calls.”
As of the beginning of last year, Yalber had funded more than 5,000 business with over $300 million, and Segal said that they had funded approximately $65 million in 2018. On the subject of regulation, Segal said that they remain very aware of regulatory changes and they don’t necessarily see regulations as a negative thing.
Headquartered in New York, Yalber employs about 25 people and has two very small offices in Dallas and Los Angeles.
Greenbox Capital Leads By Example And Eliminates Use of COJs Across Its Platforms
February 19, 2019
Miami, FL – Back in December, Debanked reported that there was a Senate bill introduced to ban COJs. Greenbox Capital has for the past 6 years been a leader and innovator in the industry in many ways. Most recently, they’ve suspended the use of COJs indefinitely.
Greenbox Capital is committed to long term success which includes taking a stand for the largely unregulated MCA industry by leading by example that shows that the industry can police itself. “Critical pieces in the long-term success of an enterprise is operating above board, employing best practices, and leading by example for others. It’s the greatest way to authentically build a great reputation with your clients and partners. It’s very important during this time even more, as the world is now watching our industry closer and we should show them that there are good actors in the space that operate with integrity,” says CEO Jordan Fein.
About Greenbox Capital
For any questions, Greenbox Capital’s Broker Support team can be reached at 305.952.3200 Option 2.
