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| Up Next: Funder, Lender, and Broker Licensing in NY Read more |
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TBF Financial Buys $60 Million in Commercial Debt from Major Online Lender TBF Financial purchased nearly $60 million in non-performing loans from a major online small business lender Read more |
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Stripe Ventures Into MCA Financing |
| Stripe, a payments firm lauded as the world's most valuable private fintech company (at $22.5B), has officially launched an MCA product. Read more |
A Side-By-Side Look At Small Business Funding Securitization Pools |
| Several small business funding companies have closed majored securitization deals since 2018 with Kroll Bond Rating Agency rating the transactions. For the most recent transaction with National Funding, Kroll compared each securitized pool side-by-side in a chart. Read more |
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National Funding Closes $120 Million Securitization |
| National Funding, one of the largest U.S. specialty finance companies serving small- and medium-sized businesses, closed its first asset-backed securitization (ABS) for $120 million. Guggenheim Securities served as sole structuring advisor and sole initial purchaser of the notes. Read more |
Lending Valley Originates Over 100 Micro Deals in Debut |
| Lending Valley has originated 100 fundings to small businesses since the company’s debut in early June. The company was founded by small business finance veteran Chad Otar Read more |
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OAREX raises $50M |
| OAREX has closed a line of credit for $50M from a group of lenders led by Arena Investors, LP, a New York based global investment firm. The funds will be used to provide funding to high growth digital media firms, allowing them quick access to the cash needed to grow without having to raise VC funds. Read more |
Four Plead Guilty In Fake Business Loan Scheme |
| Four of the five loan brokers indicted in a fake business loan scheme have pled guilty to charges. Toplica and his co-conspirators were alleged to have duped an Ohio victim out of hundreds of thousands of dollars in upfront fees, the title to 55 vehicles including a Ford Mustang, several dump trucks, several tractors, several restored classic vehicles, a Freightliner motor home, and trailers. The ruse was that the money was going towards upfront fees to secure a loan and the vehicles were to serve as collateral. In reality there was no loan. Read more |
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PNC Bank Launches Fintech Startup numo |
| Last week, PNC Bank announced its latest venture, numo, which aims to function as an internal startup, developing apps and other services to expand PNC’s operations.The first such app is indi, a b... Read more |
New York's COJ Restrictions Have Been Signed Into Law |
| Governor Cuomo has signed S6395, the law that outlaws entering a Confession of Judgment in New York against a non-New York debtor. Rich Azzopardi, a senior advisor to the governor, said on social ... Read more |
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LendingPoint closes $178M securitization |
| LendingPoint announced that it closed its inaugural securitization of consumer loans. Read more |
Snapshot On Australia: Growth In The Making |
| The Australian alternative lending market continues to gain momentum, bolstered in part by increased awareness, heightened competition and growing dissatisfaction with the status quo. Read more |
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