Newsletter Sent On: 06/11/2019

Salespeople: Do You Need a Mentor? Read more

ForwardLine, One of the Original Funding Companies, is Back
ForwardLine Financial originated well over $65 million in loans in 2018, according to CEO Steve Carlson. ForwardLine would not share its origination numbers, but Carlson said the company is comfortably on the deBanked list of top originators. ($65 million is the lowest origination number on the list). Read more

Bitty Advance Opens Office in NYC
Bitty CEO Eddie Siegel said he is currently hiring salespeople and experienced underwriters for the New York office. There were about 10 well-dressed salespeople at the spacious Bitty Advance office in New York this morning, and Siegel said he plans to grow the office to about 20. He said there are 30 employees in Florida, none of whom moved to the New York office. The New York office does sales and underwriting, while the corporate office in Florida also handles sales and underwriting and houses the customer service and executive teams. Read more

Credit Invisibles Recap - Presented by Canadian Lenders Association in Toronto
The Canadian Lenders Association's (CLA) workshop on credit invisibles and credit deserts was held at the Toronto law offices of Blake, Cassels & Graydon on June 5th. Situated in the financial distric... Read more

Closers: Drink Up to 25 Cups of Coffee Per Day
Drink up closers! Research led by Professor Steffen Petersen from Queen Mary’s William Harvey Research Institute suggests that drinking coffee is not that bad for your heart.The study examined mor... Read more

CFA Report Shows Increase in US Factoring Volume
The Commercial Finance Association (CFA) recently published a report on asset-based lending and factoring which showed a 10.4 % increase in domestic factoring volume in 2018 compared to 2017. While th... Read more

One New York COJ Bill Moves Forward
A bill that would prevent companies from using Confessions of Judgment against out-of-state debtors is progressing through the New York Assembly. A07500 cleared the judiciary committee on Tuesday desp... Read more

IOU Originates $32.8M in Loans in Q1
IOU Financial funded $32.8M in loans in the first quarter of 2019, according to publicly filed financial statements. The company also continued its profitable streak and plans to grow originations by:... Read more

FTC Investigates Small Business Financing Via UDAP
From Pepper Hamilton LLP Read more

The SEC is Suing Kik Over its ICO
Via Coindesk: As alleged in the SEC’s complaint, Kik had lost money for years on its sole product, an online messaging application, and the company’s management predicted internally that it would run out of money in 2017. Kik’s losses averaged about $30 million a year, according to the SEC, and earlier attempts by Kik to be acquired by a larger technology company had failed, with seven potential suitors all declining to buy or merge with the company. Read more

Your Carrier Can Now Block Robocalls
Via CNN Read more

Uber is Expanding into Fintech
Uber has embarked on a hiring spree for its new Fintech Outpost in NYC Read more

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

Funding These Franchises? Read This First
United States Senator Catherine Cortez Masto is concerned with the abilities of four major franchises to repay business loans, according to a letter penned to the Small Business Administration. Th... Read more

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