Newsletter Sent On: 10/24/2018

Is Small Business Lending Stuck in the Friend Zone? Read more

Noah Breslow The Discussed PNC Bank Deal at Money2020
"We’re keeping a laser focus on small business lending," Breslow said, when asked if OnDeck would begin to serve other segments of the market, like student or auto loans. Read more

GOING NATIONAL: How David Gilbert Built One of the Largest Small Business Lenders in the Country
As featured in the Sept/Oct magazine issue Read more

Sir Richard Branson Adds Charm, Not Expertise, to Money 2020
While over 20 years ago Branson founded Virgin Money, a sizable UK-based bank, he demonstrated clear discomfort and disinterest in talking about banking. Read more

NYIC – IFA Northeast – AFBA – deBanked Conference Recap
The New York Institute of Credit (NYIC) hosted a conference in Manhattan with attendees from several segments of the commercial finance industry, including factoring, MCA, and asset based lending. Approximately 100 registrants gathered at Arno Ristorante in the garment district section of midtown. In addition to local New York firms, attendees travelled from as far as Chicago and California to be at the event. Read more

Regulators Say ‘Sandboxes’ Work
According to Cook, a regulatory sandbox is an arrangement between a company and a regulator where, in order to test the viability of a new business or product, the regulator grants some kind of allowance to the company for a fixed period of time in exchange for the regulator’s ability to observe carefully how the new business or technology works and behaves in the market. Read more

Heard at Money2020
Celebrities including Shaquille O'Neal put in their two cents at the major financial conference Read more

HSBC partners with Avant
Via Bloomberg: Beginning in the first half of next year, London-based HSBC’s U.S. arm will employ Avant’s Amount platform to offer loans of as much as $30,000 with terms up to five years, according to a press release. Consumers will be able to apply in minutes and have the money in their account within a day. Rates will go from 5.99 percent to the low-20 percent range Read more

National Business Capital surpasses $1B in originations
ational Business Capital (NBC), a leading business financing and services company based in Long Island, NY announced it has provided over $1 billion in financing for small businesses across all industries, and all 50 states. This landmark achievement comes 10 years after NBC's creation in 2007—a time when financing was notoriously difficult to obtain for small business owners Read more

SoFi CEO Anthony Noto Sees Volatile Rates as an Opportunity
Via CNBC Read more

How Regulators Like to be Approached
When the first person to broach the issue an a lobbyist, one regulator said he puts them on ignore Read more

Square Expands into Consumer Lending, Keeps Banking Hopes Alive
Square is no stranger to payments and is looking more and more like a bank every day. Square Capital already facilitates loans to small businesses, and now they’re expanding into consumer loans. Meanwhile, it’s been several months since Jack Dorsey’s fintech startup withdrew its application to become an Industrial Loan Company (ILC), but Square’s banking pursuits appear far from over Read more

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

Is Your Firm Ready for Machine Learning?
From deBanked's Sept/Oct issue - Artificial intelligence such as machine learning has the potential to dramatically shift the alternative lending and funding landscape. But humans still have a lot to learn about this budding field Read more

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