Newsletter Sent On: 07/22/2015
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Acquiring borrowers isn't easy. Here's what the experts said...

AmeriMerchant Becomes Part of International Conglomerate, Partners with Alibaba

US-based AmeriMerchant merged with players in the UK, Canada, and Australia. David Goldin is now global CEO Read more
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Industry Leaders Still Believe in Human Underwriting Despite Tech Transformation


At the AltLend Conference in NYC, commercial finance CEOs said that they're automating but still human... Read story

Merchant Cash and Capital and BizFi Originated $115 Million in Q2

MCC and related marketplace platform BizFi are making waves  Read more
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The U.S. Treasury Has Questions About Your Funding Company. Will You Respond?

The Treasury is requesting public input over the next five weeks from people involved in the industry. Read more
OnDeck Flips the Script and Plans to Show a Profit in Q2 Earnings

The news was unexpected and at least one vocal stock analyst wasn't impressed.  Read more
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What do Funders Mean When they Say A-E Paper?

Industry broker John Tucker explains the ABCDEs of funding and using your network to the fullest.  Read story
Do Bank Statements Matter in Underwriting? An entire segment says, 'no'

B2B and B2C financial companies have fundamental disagreements about what's important Read more
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Strategic Funding Source Closes on a $90 Million Credit Facility

This veteran player is not slowing down a bit. Read more
Deal Alert: Angelo Gordon Acquired Reliant Funding

The PE firm now owns at least two MCA companies. Learn more

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It Might Soon Be Illegal to Know Your Merchant. And Worse, It Might Already Be...

The Expansion of the Equal Credit Opportunity Act may make subjective underwriting illegal. Read more
Will Tumulty Joins RapidAdvance as New Chief Executive Officer

Jeremy Brown has been promoted to Executive Chairman. Learn more

Don't Forget to get Leads!
Kathryn Petralia of Kabbage Was on the Lend Academy Podcast

You can listen to it or read the transcript on Peter Renton's blog. Read more
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Don't Wimp Out, Respond to the U.S. Treasury's RFI

If you've ever had any opinion whatsoever on the future of the industry, you'll want to respond to the Treasury Department's RFI. The idea that government interest in the rise of alternative finance is purely focused on the consumer side is a misnomer. The Treasury clearly mentions B2B transactions and small businesses. 


The regulatory framework going forward is not contingent on Congress to pass new laws. On the contrary, the Consumer Financial Protection Bureau (CFPB) possesses lawmaking authority despite being part of the executive branch of government. And what's worse, the Dodd-Frank Act extended them a level of influence in commercial transactions through an expansion of the Equal Credit Opportunity Act. 


The law's outline as written, threatens subjective underwriting, many lead generation tactics, and all funders and brokers who lack the technology to comply with the data collection requirements. The writers may have had their hearts in the right place but they put it together five years ago, before anyone was really familiar with the rise of alternative finance.


So whether you're a broker, funder, platform, or even a third party tied into the ecosystem, you should respond to this inquiry. Read the full Treasury document and instructions here.


- Sean Murray

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