Newsletter Sent On: 12/07/2018

SBFA Announces Support for The Small Business Fairness Act Read more

Senate Bill Introduced to Ban COJs in Small Business Lending
A bipartisan bill to ban COJs nationwide in small business lending is the result of Bloomberg Businessweek's recent series Read more

OnDeck Expands Canadian Business with Merger
OnDeck announced that it has entered into an agreement to merge its Toronto-based Canadian business with Evolocity Financial Group (Evolocity), an online small business funder headquartered in Montreal. OnDeck will have majority ownership of Evolocity and the combined entity will be rebranded as OnDeck Canada Read more

Popular Business-Lending Marketplace Dealstruck Restructures
Innovative online business-lending marketplace (which has been featured in CNBC, The New York Times, Forbes and many other publications) has reorganized. A private investment group of fintech experts acquired the company. "This acquisition represents a significant strategic opportunity for our client base," said Dealstruck CEO Anthony Porrata. Read more

What We Learned About Credibly From Credibly’s Securitization
Credibly CEO Ryan Rosett told deBanked that the company’s October securitization will be used, in part, to roll out its new Market Expansion Product (MXP), which will allow Credibly to service merchants with FICO scores as low as 500 and those that have been in business for less time. Read more

Who Are The New York City's Marshals?
Bloomberg Businessweek has turned the spotlight on a group of mayoral-appointed judgment enforcers known as the city marshals Read more

Bloomberg News Lets Go of Staff, Believed to be Planning for Sale
Via the New York Post: At least 43 reporters and editors, most of them in New York, are known to have left the sprawling news operation this year, according to interviews and a list of recent departures obtained by The Post. Read more

Factoring Still Slow to Modernize, Say Industry Leaders
"We’re not seeing as much movement from traditional factoring companies…there have been some attempts of traditional factoring companies to move in [the technology] direction, but we haven’t seen something major happening." Read more

California Regulator Wants Your Feeback
The Department of Business Oversight wants your comments on how to implement the new commercial financing disclosure bill that recently became law Read more

BFS Capital Announces Mark Ruddock as New CEO
Most recently, Ruddock served as interim CEO for nearly two years at 4finance, one of the largest European consumer focused online lenders, with more than 3,000 employees and customers across 17 countries. Ruddock said that at 4finance, every day they would issue more than 16,500 loans and make about 22,500 risk decisions. And the entire process was automated. Read more

IOU Partners with FINSYNC to Fuel Growth
Montreal-based IOU Financial announced that it is partnering with FINSYNC in an effort to improve their customers’ experience and broaden access to new customers. FINSYNC is a cash flow management software and platform that allows businesses to collect income, pay bills, process payroll, automate accounting, and access financing through FINSYNC’s Lending Network. Read more

CommonBond Acquires NextGenVest to Fuel Expansion and Provide AI-Powered Financial Advice to Generation Z
CommonBond Acquires NextGenVest to Fuel Expansion and Provide AI-Powered Financial Advice to Generation Z Read more

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

Glance Technologies Provides Small Businesses With Access To Funding Through New Partnership With Merchant Advance Capital
Under the terms of the Strategic Alliance Agreement, Glance and Merchant Advance Capital will collaboratively market and promote each other’s businesses through their respective marketing and sales channels. Under the terms of the Referral Agreement, Glance will be paid a fee for each transaction that Merchant Advance Capital closes from a Glance generated lead. Read more

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