Announcements
Greenbox Capital® Advocates For Fair Lending to Women- and Minority-owned Businesses in CFPB Panel
October 19, 2020Miami, FL: Greenbox Capital® announced it is serving as a Small Entity Representative (SER) to the Consumer Financial Protection Bureau (CFPB) that is responsible for amending the Equal Credit Opportunity Act (ECOA) protecting women-owned, minority-owned, and small businesses looking for financial assistance. Section 1071 of the Dodd-Frank Act amends the ECOA by requiring certain data be collected and submitted to the Bureau to protect these types of businesses.
“It’s an honor to be selected to the industry panel providing feedback on section 1071 of the Dodd-Frank Act ensuring fair lending laws to women- and minority-owned businesses”, said Greenbox Capital CEO Jordan Fein. “Over 2 million businesses across the U.S. are either women or minority owned and it’s vital they can secure funding as easily as non-minority owned businesses.”
Greenbox Capital, an alternative lender, serves small businesses in all industries across the United States, Puerto Rico, and Canada with the working capital needed to grow. Greenbox Capital is committed to supporting clear, secure, and fair financing solutions and is an active member of the Small Business Financial Association (SBFA).
For more information visit, www.greenboxcapital.com.
Capify Announces $10 Million Equity Round As Well As Continued Support From Goldman Sachs Merchant Banking Division
September 30, 2020
Access To Business Loans Especially During COVID-19 Pandemic
(Manchester, England and Sydney, Australia) – Capify (http://www.capify.co.uk, http://www.capify.com.au ), a leading fintech small business lending platform, today announced it has closed a $10 million equity round as well as continued support from Goldman Sachs Merchant Banking Division through its existing credit facilities.
“The fact that we were able to raise $10 million for an online small business lender in the midst of a global pandemic from sophisticated investors with industry experience speaks to Capify’s business model, the unprecedented opportunity ahead of us and its management team,” said David Goldin, Founder and CEO of Capify.
Continued, Mr. Goldin, “We believe demand by small businesses seeking access to unsecured capital will be at unprecedented levels because most businesses have already accessed the government backed business loan programs in the UK and Australia market but will still need additional capital – as do the many businesses that didn’t qualify for the Government guaranteed programs and are seeking much needed working capital to grow.”
In addition, Capify is actively seeking partnerships with companies with large small business customer bases to provide much needed financing to their small business customers, thus allowing them access to capital to purchase goods / services which have proven financially difficult during this challenging time. Furthermore, we are looking for opportunities where we can assist our industry peers who don’t have access to capital during this time by providing capital to their customer base.
Capify’s 12 year presence in the UK and Australia market is more relevant than ever as small businesses demand for access to capital to navigate through COVID-19 is at an all time high. According to John Rozenbroek, COO / CFO of Capify, “It is crucial at this time that small businesses are aware of alternative funding solutions to support cash flow or invest in their future. Capify is one of the few online small business lending platforms in the marketplace that can actively provide non-government backed business loans at scale to small businesses seeking working capital to grow their business. ”
About Capify
Capify is an online lender that provides flexible financing solutions to small businesses in the UK and Australia seeking working capital to sustain or grow their business. The fintech company has been operating in the UK and Australia market for over 12 years.
For more details about Capify, visit
Capify UK: http://www.capify.co.uk
Capify Australia: http://www.capify.com.au
Capify UK Media Contact:
Ian Wood, Marketing Director
iwood@capify.co.uk
+44 0161 393 9536
Capify Australia Media Contact:
Nandita Graham, Senior Marketing Manager
ngraham@capify.com.au
+61 433 511 653
Smarter Loans Expands into Banking, Insurance, Investing, Money Transfers and Debt Relief Solutions
September 22, 2020
Smarter 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, 2020Bensalem, 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
Bensalem, PA –September 3, 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)
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, 2020IOU 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
President 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, 2020Tampa, 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
