Newsletter Sent On: 12/17/2018

Bloomberg Reporter Wipes His Twitter After deBanked Story Read more

deBanked's Ice Edition is in the mail
And don't forget that Wednesday is the last day to become a sponsor of deBanked CONNECT - Miami. Email for info! Read more

The ABCs of Small Business Development Centers
An often-overlooked national network of nearly a thousand Small Business Development Centers has the potential to help alternative funders cement relationships with existing clients and locate new ones. The centers, known as SBDCs, offer free or low-cost training and consultation to established and aspiring merchants and manufacturers. Read more

From Office of One to Eighteen in Under a Year
Not even a full year in business, Velocity Capital Group announced that it has secured $15 million in financing; $5 million in a series A, plus a $10 million line of credit. Read more

Defunct MCA Company Tried to Escape Signed Confession of Judgment
Eaglewood required that WGF sign a Confession of Judgment (COJ) as part of the agreement that would afford Eaglewood the right to file and obtain a judgment without further litigation if WGF breached the settlement. On August 3, that’s exactly what happened. After WGF failed to make the stipulated payments to Eaglewood, the COJ was filed in the New York Supreme Court so as to obtain a nearly $6 million judgment Read more

MCA Participations and Securities Law: Recognizing and Managing a Looming Threat
By attorneys at Pepper Hamilton LLP Read more

Trump Administration Criticizes Postal Banking Concept
A Trump administration report diminished the idea of having the United States Postal Service take on the role of a bank. Read more

Smarter Loans Publishes The State of Alternative Lending in Canada 2018 Study
The research has confirmed that the industry has seen a lot more interest from consumers in Canada over the past few years, but as it continues to expand there are a number of key issues that still need to be addressed. Read more

Instant PayPal withdrawals now available for all U.S. Coinbase customers
These withdrawals are not only fast; they’re free and incur no fees. Read more

Merchant That Defaulted on Several MCAs Gets Visit from the FBI
According to the Springfield News-Leader, Willhoit’s wife told an investigator that her husband’s exotic car business was gone. But if so, several banks want to know where $4.25 million in unpaid loans went and what happened to the 33 vehicles that Willhoit had given them paperwork for. Read more

Fintech Brokerage Firm May Have Goofed With New Offering
Via Techcrunch: The head of the nonprofit insurer that protects investors from losses in the event a brokerage fails said Friday he was as surprised as anyone to hear about Robinhood's plans to offer checking and savings accounts for 3 percent interest. Read more

Cross River Bank Raises $100 Million
Cross River Bank, which provides banking services to fintech companies, recently announced the completion of a funding round of roughly $100 million. This was comprised of a $75 million equity investment from KKR, along with capital from Andreessen Horowitz, Battery Ventures, Rabbit Capital, and funding from new investors CredEase and Lion Tree. This adds to a $28 million raise a little over two years ago. Read more

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

Small Businesses Are the Casualty of Rising Interest Rates
Rising interest rates mean that the rate at which banks can lend reserve balances to other banks is rising, increasing the costs for small businesses to receive traditional loans from banks. As costs exponentially increase, consumers will have even less cash due to paying off inevitably higher interest rates on credit cards. Read more

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