Robinhood Goes Down Three Times in One Week, And The Timing Couldn’t Be Worse

March 10, 2020
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The free stock trading app Robinhood has gone down three times in the last week, causing angst and legal challenges from customers at a time when the US stock market is tanking. Stemming from uncertainty instilled by the coronavirus as well as worries over Saudi-Russia oil relations, the Dow Jones Index Average had dropped by […]

United Capital Source Placed $199M In Deals In 2019

January 5, 2020
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United Capital Source, a commercial finance brokerage based in New York, placed 3,883 deals in 2019 for a grand funding total of $199.3 million. Company CEO Jared Weitz said on LinkedIn of the milestone, “Our employees all saw growth (again) this year both professionally and personally. As we come into 2020 we are going into […]

Fears of Possible Recession Don’t Phase CRE Lenders

December 16, 2019
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This story appeared in deBanked’s Nov/Dec 2019 magazine issue. To receive copies in print, SUBSCRIBE FREE Depending on your vantage point, a slowdown is either already in progress, just around the bend or several years away. But some alternative commercial real estate professionals are trying to filter out the noise. Instead, they are more aggressively […]

Peer-to-Peer Lending’s Global Struggle

July 8, 2019
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New rules were introduced to peer-to-peer lending in Britain this month with the introduction of Policy Statement 19/14 by the government. The document heralds in a number of new processes that will be required to be enacted by peer-to-peer lending platforms in the UK by early December this year, if they are to continue operating […]

Will Millennials Bring Non-banks into Their Finances?

April 1, 2019
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social media apps

Following Apple’s announcement last week of its upcoming Apple Credit Card, one question that comes to mind is: Will people, particularly millennials (now roughly 22 to 37 years old), be up for banking with non-bank companies? According to an Accenture survey from five years ago, 34% of millennials said they would bank with Apple if […]

Wintrust Expands Accounts Receivables Financing

December 17, 2018
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Today, Wintrust announced the creation of Wintrust Receivables Finance, an expansion of the company’s asset-based lending group, according to a story in Monitor Daily. This translates to the addition of a specialized team focused on accounts receivables financing to middle market companies, with revenues between $10 million and $300 million. “We think this team is […]

Subprime Lending to Increase in 2019

December 12, 2018
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Subprime loans are expected to increase in 2019, according to data from TransUnion. The data from a November 2018 report shows that Outstanding Unsecured US Personal Loan Balances have been increasing since 2013, and the increase was most dramatic from 2017 to 2018, jumping 18% from Q3 2017 to $132.4 billion in Q3 2018. The […]

nCino Partners With Santander

July 24, 2018
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Santander Bank

Pierre Naudé, CEO, nCino nCino partnered with Santander Bank last week, its latest in a string of partnerships with major banks. “Innovative institutions such as Santander Bank understand the importance of ensuring the customer experience is as fast, easy and intuitive as possible,” said Pierre Naudé, CEO of nCino. “[Santander] also recognizes that a shiny […]

BCFP Launches Regulatory Sandbox for Fintech Companies

July 23, 2018
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cfpb fintech

Acting Director Mick Mulvaney | Photo Credit: Gage Skidmore Mick Mulvaney, the Acting Director of the Bureau of Consumer Financial Protection (Bureau), told The Wall Street Journal last week that the Bureau has launched a “regulatory sandbox” to help fintech firms develop new products and services. A regulatory sandbox is a framework set up by […]

BFS Co-founder Returns as Temporary CEO

May 23, 2018
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Chairman and co-founder of BFS Capital Marc Glazer has assumed the role of Interim CEO. The former CEO, Michael Marrache, is no longer at the company. “We’re on a nationwide search to find an individual that we feel will be an excellent candidate to continue BFS’s track record as a market leader and help grow […]

SBA 504 Loans Decline YoY 2017-2018

May 8, 2018
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SBA Loans

Funding of SBA 504 loans decreased by 26 percent from January through March 2017 compared to January through March of 2018, according to SBA (Small Business Administration) data. In the first three months of 2017, $1,326,601,000 of SBA 504 loans were funded compared to $987,896,000 of SBA 504 loans in the first three months of […]

LendingPoint Debuts Point of Sale Lending Platform for Merchants

March 6, 2018
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LendingPoint announced today the launch of LendingPoint Merchant Solutions, a platform that allows merchants to offer loans to their customers for purchases ranging from furniture to medical procedures.   “When merchants offer consumer financing at the point of sale, they can remove friction and increase conversion,” said Mark Lorimer, Chief Marketing Officer of LendingPoint. “Our […]

Drift Capital Partners Credit Facility Shows Confidence in Fintech

January 20, 2018
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stocks up

Drift Capital Partners, LLC, an alternative asset management company, announced a new $50 million credit facility earlier this month. The funds will be used to “expand its portfolio of structured credit solutions to FinTech enabled Non-Bank Financial Services companies and allow them the opportunity to increase lending to ‘main street’ businesses,” a company release said. […]

Law Firm or Law Fail? Debt Settlement Company’s Legal Footing Called into Question

December 6, 2017
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Above: Michael Hamill gets a lap dance at the office of New Jersey-based telemarketing firm Corporate Bailout.   PLG, a purported Illinois law firm, says that they hire Corporate Bailout to perform tasks for them and that this in effect makes Corporate Bailout a law firm too.   Plaintiffs Yellowstone Capital and Everest contend that […]

Small Business Finance Association Releases Best Practices Just in Time

April 13, 2016
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best practices

The Small Business Finance Association (SBFA) has finally released their long awaited best practices guide. The four overarching principles are transparency, responsibility, fairness and security. Unlike other organizations that have called for APR disclosures, the SBFA believes that the total dollar cost of the transaction is the most important way to achieve that goal. It’s […]

Mr. Broker: Stop Helping ME, Compete With YOU

November 29, 2015
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To quote comedian Dennis Miller, “I rant, therefore I am.” I know everyone is in the holiday spirit and I surely would hate to kill off that jovial mood, but I thought that it was time for Part Three of my Rants, this time on one of the most crucial elements of our industry, The […]

The Telephone Is The Broker’s Best Friend

November 9, 2015
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phones are a broker's best friend

As we enter the second week of November 2015, we are indeed continuing the Year of The Broker, which I believe will not end on Thursday, December 31st at 11:59 p.m., but instead will continue into the year of 2016. As a result, I plan on remaining right here with deBanked to continue the Year […]

World Business Lenders Acquires Uber Capital, Adds Another Branch

October 2, 2015
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Zachary Ramirez, a Branch Manager for NY-based World Business Lenders (WBL) confirmed the company had set up two new branches. South Miami-based Uber Capital was acquired and will become a WBL branch. “The founders of Uber Capital, Jessica Fonseca, Tim Fenimore and Tristan Olmedo-Tigertail have joined WBL as Co-Branch Managers,” wrote Ramirez. The company was […]

A Return to the Fundamentals? (At Transact 15)

April 3, 2015
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we have to go back

The Transact ’15 conference opened to a record crowd and there was no shortage of merchant cash advance players in attendance. Those facts were to be expected. And if you walked in and poked your head around, you might not have noticed anything to be different. Payment processors touted the latest mobile technology and at […]

Merchant Cash Advance Now In-Depth

December 1, 2014
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For quite possibly the first time ever, Google has blessed merchant cash advance with its own array of In-depth articles. What are In-depth articles? Why, they’re featured stories at the bottom of the normal search results. The In-depth feature launched in 2013 and has only worked for certain keywords. Today it appeared for the very […]