Newsletter Sent On: 10/16/2018

New Jersey Moves to Regulate SMB Lending & MCA Disclosures Read more

The Broker: How Andy Savarese Changes Collars and Closes Deals
Savarese wakes up every day at 3:37AM to start his first job. By 10:30AM, he's at job #2, his ISO, where he can be found closing deals Read more

Is Your Firm Ready for Machine Learning?
A featured story in the Sept/Oct issue of our magazine Read more

How Dealstruck Arrived, "Disrupted," and Died – A Cautionary Online Lending Tale
When Dealstruck popped up on the online lending scene in 2013 with promises of long term loans and low interest rates, some industry insiders rolled their eyes at the naïveté. "It’s not about disintermediating the banks but the very high-yield lenders," Ethan Senturia, chief executive of Dealstruck, told the New York Times in March 2014. Read more

Sean Murray to Moderate NYIC Panel
The event brings together factors, asset based lenders, and MCA companies for educational debate Read more

Yoel Wagschal Becomes Last Chance Funding's CFO
Wagschal says that he will still retain his own independent CPA Practice Read more

ISO Impersonating Funder May Be Jailed
After ignoring a judge's restraining order, an ISO is ordered to face fines or worse, imprisonment, if it does not comply Read more

Capital Stack Sued in Class Action
Former employees have filed an unfair wage complaint in federal court Read more

IOU Financial Surpasses $600M in Originations
US$600 million in originations is a significant milestone that we are incredibly proud of, and a testament to the strength of our team, the power of our technology, and our reputation in the industry. As we continue to pursue opportunities to grow and expand our market share, we look forward to continuing to serve the working capital needs of hard-working North American merchants and small business owners, said Phil Marleau, CEO of IOU Financial Read more

Square Plummets 15% After CFO Leaves
The market is not happy about Square's #2 jumping ship Read more

US Congressman Visits CFG's Office
NJ Rep. Tom MacArthur visited CFG's Maiden Lane office on Monday Read more

OnDeck Launches New Subsidiary
OnDeck announced today that it has created a new internal company, called ODX, which will help banks become more efficient online lenders. OnDeck’s CEO Noah Breslow told deBanked that ODX is an expansion of OnDeck’s successful partnership with JPMorgan, which started in 2016. Read more

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

Goldman Sachs Marcus Has Already Signed Up 50,000 New Accounts in the UK
On September 27, Marcus launched in the UK with little fanfare, offering customers a savings account paying an interest rate of 1.5% for one-year, with a rate of 1.35% after that. That's the best rate on the UK high street for a standard savings account. The number of signups has been far in excess of what the bank expected, Des McDaid, who is leading the project in the UK said last week. Read more

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