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| How Joe Cohen Closes Deals & Dodges The Backdoor Read more |
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Join the Industry on Jan 24th in Miami Beach Register now for deBanked CONNECT - Miami at the Eden Roc Read more |
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Confession of Judgments Are Crucial for Small Business Growth |
| Via RealClearMarkets: Unfortunately, entrepreneurs occasionally embezzle cash advances. To protect themselves from such fraud, fintech firms often require entrepreneurs to sign a confession of judgment prior to receiving a cash advance as a part of the advance process Read more |
Square Capital Loaned $405 Million in Q3 |
| By contrast, OnDeck, a Square Capital competitor, reported loan originations of $648M for the quarter. Both companies find themselves facing new competition from a growing field of tech players like Shopify (who last quarter originated $76.4M in merchant cash advances). Read more |
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Elevate Tests Geofencing to Lure Customers Away from Competition |
| Daniel Rhea, Elevate’s Senior Communications Manager, said that they don’t have the ability follow people. Instead, what they can do is tell when someone gets near one of their targets stores and then present them with ads. The mobile ads are not served immediately. Rhea said that ads could be served to someone who entered the target zone up to 90 days later. Read more |
SoFi CEO Ponders Opening Physical Locations |
| At Money 20/20 a few weeks ago, SoFi CEO Anthony Noto said that eventually the online lender will need to open some physical locations, not unlike ATM machines, for people who get paid in cash. Read more |
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Fico Nearing Rollout of UltraFICO |
| Fintech firms like Upstart are encouraging the use of additional data to make the scoring of borrowers more accurately Read more |
Payroll Costs Still Exceed Revenues at StreetShares |
| It's not the cost of marketing that's sending this company deep into the red, it's payroll Read more |
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Georgia Supreme Court Ruling Is Helpful Precedent for Litigation Financing Industry |
| Via National Law Review: The decision is significant because it is helpful precedent not only for litigation financing providers facing similar challenges but also for providers of merchant cash advances and companies involved in other transactions structured as sales rather than loans. Read more |
National Funding Announces New President |
| National Funding announced that Joseph Gaudio has been promoted to President of the company, reporting directly to founder and CEO Dave Gilbert. Previously, Gaudio was Chief Operating Officer. Read more |
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Reliant Funding Supports Veteran-Owned Businesses with Special Promotion |
| Reliant Funding is offering a special deal for veteran-owned shops Read more |
LendingClub Hits Another Record for Originations |
| They loaned $2.9B in Q3 Read more |
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Get Certified in MCA Basics |
| Make sure you know how MCAs really work before you sell them Read more |
YieldStreet Wants to Make Exotic Bets Available to Individual Investors Online |
| Via Bloomberg: The implicit pitch? That YieldStreet Inc., his online investment company, can help democratize high finance. It’s selling alternative investments normally reserved for billionaires and hedge funds. For now, his crowdfunding startup caters to the mass affluent—individuals who are so-called accredited investors, meaning they have $1 million in net worth or make at least $200,000 a year. A successful New Jersey doctor or dentist, perhaps. Read more |
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