Newsletter Sent On: 04/04/2018

Broker Fair On Pace For Major Success Read more

Strategic Funding Builds Executive Team
New York-based Strategic Funding has announced the expansion of its executive team with the appointment of a new CFO and the addition of two new roles, Chief Risk Officer and Chief Product Officer. Read more

Caught! Backdoored Deals Leads to Handcuffs
An employee caught sending deals out the backdoor has been arrested, the third such person to-date that deBanked is aware of Read more

Funding a Deal Near the Holidays?
Do merchants move faster before the holidays or slower? deBanked check in with two people to hear what they've seen Read more

Accord Business Funding Makes New Marketing Hire
Houston-based Accord Business Funding recently hired Aldo Castro to lead its marketing efforts. His title is Vice President of Sales & Marketing. Read more

Usury Lawsuit Made Null and Void by Judge
An attorney suing MCA companies in New York has once again been told by a judge that he was ineligible to file a lawsuit in the state because he's in violation of Judiciary Law 470. Read more

Experian to Stop Reporting All Tax Lien Data
According to a March 19 letter sent by Experian to its clients, the company will remove all remaining tax liens from its consumer credit reporting database beginning the week of April 16. Read more

Pearl Beta Funding Decision a Boon to MCAs, as Long as They’re True to Their True-ups
The true-up is a contractual obligation on the part of an MCA funder to adjust the daily payment it receives from a merchant to more accurately reflect the percentage of receivables it is owed. Read more

Larry Summers Steps Down from Lending Club's Board
It's been a privilege to work with my fellow board members and with the LendingClub management team over the last six years, said Lawrence H. Summers Read more

Funding Circle Expands U.S. Operations with New Office in Denver
The company announced it is expanding its U.S. operations with a second office in Denver, Colorado. With the move Funding Circle will look to hire around 290 new employees in the Denver area over the next two years to support the company's growth. Read more

Judge Throws Out Case, Cites Champion Auto Sales Decision
A merchant seeking to have a judgment against them voided on the basis that the underlying Purchase and Sale of Future Receivables agreement they entered into was actually a usurious loan, has had their motion denied pursuant to the law as decided in Champion Auto Sales, LLC et al. v Pearl Beta Funding, LLC, court records show. Read more

Forging Success: Hercules Brings Gibraltar Business Capital into the Fold
This Q&A on ABL Advisor explains the acquisition Read more

Get Certified in MCA Basics
Make sure you know how MCAs really work before you sell them Read more

FinTech Ventures Fund, LLLP Announces Disposition of Securities of IOU Financial Inc.
Immediately after the transaction, FinTech directly owns 11,126,852 Common Shares representing 12.72% of IOU's outstanding Common Shares. Read more

Credit Karma and Silver Lake Announce $500 Million Strategic Secondary Investment
Credit Karma, the leading personal finance technology company in North America, today announced that Silver Lake, the global leader in technology investing, will acquire a significant minority stake in the company worth approximately $500 million from existing equity holders through an organized secondary process. Read more

Marshall Lux Joins Marlette Funding as an Advisor
Marshall Lux has been a Financial Services consultant and practitioner for 30 years. Read more

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