Newsletter Sent On: 07/12/2018

Thinking Capital, Equifax Create Canadian Small Business Credit Grades Read more

MCA Funder Says Debt Relief Co is Breaking the Law
A new lawsuit alleges that a debt relief company is really running an illegal budget planning operation Read more

iAdvance Now Hires Chief Revenue Officer
iAdvance Now has hired John Kuriger as Chief Revenue Officer, who was formerly Vice President at Lendio. Read more

Yellowstone Capital Expands Credit Facility to $120 Million
So far in 2018 the company has originated more than $350 million in financing to small businesses nationwide Read more

Lendistry Becomes a Member of the Federal Home Loan Bank of San Francisco
This will allow the lender to expand its commercial real estate loan business, which Lendistry launched in January. Read more

The Past, Present and Future of the ILC Bank
Square confirmed that it withdrew its application to the FDIC for depository insurance, which would allow it to take deposits from customers in all 50 states. The company said it plans to refile. This is not the first time that a fintech company has withdrawn a bank application from the FDIC. Read more

What Will Happen to HomeZen After the Breakout Capital Deal?
HomeZen’s co-founder and Head of Technology Mike Spainhower will work with Breakout Capital to help integrate the HomeZen technology into Breakout Capital’s system, Breakout Capital Chief Operating Officer Mendelsohn told deBanked. But Spainhower will not be joining Breakout Capital as an employee, nor will any other former HomeZen employees. HomeZen will still service its existing clients, but will no longer seek additional clients or operate under the HomeZen name. Read more

OnDeck Taps Stephen Klimas To Lead Investor Relations
Klimas joins OnDeck from Avolon, a global commercial aircraft leasing company, where he served as Managing Director for Finance and Capital Markets following the company's acquisition of CIT Aerospace in 2017. From 1998 to 2017, Klimas held several finance leadership positions at CIT Group, including Senior Vice President for Investor Relations, Chief Financial Officer of the Transportation and International Finance segment, and multiple management roles in the Treasury department. Klimas began his career in the Treasury division of Beneficial Management Corporation, now HSBC. Read more

California Legislature Mulls Rewrite Of Broker Law
This may soon change if the legislature enacts AB 3207 (Limón). This bill completely rewrites the definition of Read more

Axiom Bank Acquires Allied Affiliated Funding
Axiom Bank, a community bank with retail branches located inside Walmarts throughout Florida, announced this week that it has acquired a factoring company, Allied Affiliated Funding. Read more

Business Loan Drought Ends for Banks
Preliminary second-quarter data from the Federal Reserve indicate the year-over-year growth rate of business loans rose to 5.5% in late June from less than 1% near the end of 2017. The upturn marks the reversal of a prolonged slump in business-loan growth that began in earnest about two years ago. Read more

Fintech lenders are tracking and judging your digital trail
The study, "On the Rise of FinTechs: Credit Scoring Using Digital Footprints," written by a team led by Tobias Berg of the Frankfurt School of Finance and Management and published by the National Bureau of Economic Research, found that a dozen broad personal tech clues, used together, did a better job predicting who would pay for what they bought over time than traditional FICO credit scores and other common credit measures banks use to grant or refuse loans. Read more

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

Lendio Opens Franchise in Rochester, NY
endio Rochester will provide financing solutions to businesses from Syracuse to Buffalo and Niagara Falls to the Canadian border. Lendio franchise owner RJ Muto hopes to ease the financial hurdles for local business owners by helping them apply for loans, review their options and secure funding through Lendio’s network of over 75 lenders. Read more

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