Newsletter Sent On: 10/10/2018

deBanked CONNECT San Diego PHOTOS Read more

National Funding Acquires QuickBridge
The two companies will combine back-end resources, including advanced technology, innovation and product development, but they will continue to operate independently, as separate brands. Ben Gold, QuickBridge’s founding President, will remain in his current post and will work closely with National Funding founder and CEO Dave Gilbert. Read more

Brief San Diego Recap
More than 300 people attended the first deBanked CONNECT event on the west coast at the Andaz Hotel in San Diego. The half-day learning and networking conference drew people in the small business finance space from across the country, including New York, Philadelphia, Detroit, Houston, Salt Lake City, and cities in Florida and all throughout California. Read more

The Largest MCA Deal in History
Did you hear about the $40M MCA deal?! Read more

Fora Financial, Expansion Capital Group Integrate With Ocrolus
Growing beyond online small business lending, into online personal lending and traditional banking, Ocrolus has added a couple of prominent lending executives to its team. Matt Burton, former CEO of Orchard Platform has joined Ocrolus as a Board Advisor. Kevin Bailey, former Senior Advisor at the US Department of Treasury, has joined Ocrolus as Head of Growth. Read more

Digital Mortgage Lender Goes Where No Fintech Has Gone
Better Mortgage is an end-to-end mortgage lender that matches investors interested in giving loans to a subset of consumers. Read more

National Funding Promotes Justin Thompson
The new position is an expanded role that will include Thompson’s previous management of a 100-person sales division that includes Direct Sales, Renewal Sales, Broker Sales, Equipment Financing and the responsibilities of developing the company’s new Strategic Partnership vertical. Read more

Renaud Laplanche is Barred From The Securities Industry
The former Lending Club CEO said: I am pleased to have worked out a settlement with the SEC to put to rest any issues related to compliance lapses that might have occurred under my watch at Lending Club. Consistent with SEC policy, I have agreed not to admit nor deny the specific narrative of the events contained in the settlement order. Read more

Square Pushes Into Consumer Lending
Through Square Installments, the San Francisco-based company will be extending credit to the customers of merchants that use its technology to accept payments online and in-store for purchases ranging between $250 and $10,000. Read more

PayPal, Square, eBay fighting lending turf war
PayPal sent a stern warning to eBay sellers advising them they might be out of compliance with the terms of their PayPal Working Capital loans if they had opted into the initial phase of eBay managed payments that began rolling out Read more

Ascentium Hits $2 Billion in Managed Assets
Ascentium Capital provides equipment financing, leasing and small business loans, among other products. Read more

Goldman Sachs Looking to Pullback on Marcus
Via Bloomberg: The firm’s Marcus unit cut its loan-originations target for next year, according to people with knowledge of the plans. The revision reflects concern about the stage of the credit cycle and changes in market data, the people said, asking not to be identified as the information isn’t public. Read more

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

Capify to Drive £125M into UK SMB Market
As it celebrates ten years in the UK, the company is lining itself up to support the expected annual festive spike in funding requests in 2018, as well as driving over £125 million into the UK economy to power small business growth and jobs over the next few years. Read more

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