Newsletter Sent On: 06/11/2018

US Business Funding Will Retain Name, Sauce in Wake of Fora Deal Read more

An Inside Look at Strategic Funding's Portfolio
What Kroll revealed about SFS's portfolio when rating the SFS securitization Read more

BlueVine Raises $60 Million in Major Equity Deal
BlueVine announced last week that it closed $60 million in equity funding, the company’s largest funding round to date. The series E round was led by Menlo Ventures and includes new investors, including SVB Capital. All major existing investors also participated Read more

$400M A Year: Fora Financial / US Business Funding Deal to Make Fora an Originations Leader
Fora Financial’s newly acquired stake (a significant one) in US Business Funding will put them on track to originate $400 million a year, the company said. Those numbers will place them on the list with industry titans like BFS Capital, Strategic Funding and National Funding Read more

PeerIQ Report Shows Mixed Signs for Non-Bank Lending
Credit performance this quarter is mixed, the report says. The analysts observe improvements, yet also record low delinquencies from OnDeck, OneMain Holdings and FinTechs in particular Read more

LeaseQ Partners with SEFA
Aside from the benefit of LeaseQ getting new business from SEFA members, SEFA members will benefit by receiving certain perks from LeaseQ . For instance, Tirey said that LeaseQ has introduced a kiosk program for SEFA members where, among other offerings, SEFA members will be able to receive instant funding for transactions under $15,000 Read more

How Gibraltar Capital Advance Became Wellen Capital
Gibraltar Capital Advance had been a sister company of Gibraltar Business Capital, but since that company was acquired in March of this year, Gibraltar Capital Advance has operated independently Read more

$15 Million Facility Allows for Growth of Breakout Capital Factoring Program
Breakout Capital announced that it obtained a $15 million facility with a fund managed by Medalist Partners. While the facility is not earmarked for any single product, Chief Operating Officer James Mendelsohn told deBanked that the facility will certainly help fund the company’s relatively new and popular FactorAdvantage product. Read more

CA Commercial Financing Disclosures Bill Approved in the State Senate
The bill that would impose mandatory disclosures on commercial financing products in California has advanced to the Assembly, where it is one step closer to becoming law Read more

Breakout Capital Promotes James Mendelsohn to Chief Operating & Revenue Officer
In his new role, Mendelsohn will oversee firm strategy and operations, in addition to continuing to lead marketing, sales, and business development Read more

Cross River Hires Veteran Banker To Lead SBA Loan Practice
Kevin Gallagher joins Cross River from Empire State CDC: The 504 Company, where he led business development efforts around various SBA loan products and community lending products. Prior to that, he served as national sales director for SBA-related programs at Customers Bank and Citibank Read more

SoFi's Ex-Venture Head to Raise $150 Million Fintech Fund
Via Bloomberg: Social Finance Inc.’s former head of ventures and corporate development, Logan Allin, is raising a $150 million fund to invest in early stage financial technology firms in the U.S. and abroad, including Asia, Europe and Israel, according to people familiar with the matter. Mike Cagney, the former SoFi chief executive officer who quit amid allegations of sexual harassment at the fintech firm, will serve as a senior adviser to the fund, called Fin Venture Capital Read more

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

Dan Loeb Wants to Raise $400M to Target Fintech
Via NY Post: The hedgie behind Third Point is looking to raise $400 million for Far Point Acquisition Corp., a so-called "blank check" acquisition company, he revealed in a regulatory filing Read more

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