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This is wild!
09/09/2021
The Sports World Is Going Nuts for Crypto

This is wild!

Miami Mayor Francis Suarez wants NFL Quarterback Tom Brady to know that he’s totally in to crypto. Strange times as it may be, and stranger yet with a new TV commercial that has Brady communicating agreeably with New York Jets super fan Fireman Ed, the cool place to be is “in crypto.” That’s...

Collecting this data on every application for the government will soon become a normal part of operating in the small bu...
09/02/2021
CFPB Publishes Long Awaited Proposed Rule on Small Business Loan Data Collection

Collecting this data on every application for the government will soon become a normal part of operating in the small business finance space.

A 918-page proposed rule published by the Consumer Financial Protection Bureau (if you don’t know what this bureau is, now is a good time to read up), is finally out. Its application is broad, extending to “loans, lines of credit, credit cards, and merchant cash advances,” the CFPB said today....

We talked to this Capital Dude, who just ranked #1,044 on the Inc 5000!
08/18/2021
What The “Capital Dude” Said About Experience, Success, and the Future

We talked to this Capital Dude, who just ranked #1,044 on the Inc 5000!

Coming in at rank #1,044 on the 2021 Inc 5000 list was a small business finance provider with a whimsical name, Capital Dude. Having some common ownership overlap with another Inc ranked company, Central Diligence Group (#2,893), the Dude told deBanked that they didn’t shut down or pause funding t...

Big change over at Reliant Funding!
08/10/2021
Reliant Funding Announces Steve Kietz as New CEO

Big change over at Reliant Funding!

Industry veteran and former Chief Marketing Officer is appointed Chief Executive Officer of the leading alternative finance company San Diego, CA (August 10, 2021) – Reliant Funding, a leading small business finance company, today announced that it has named Steve Kietz to the role of Chief Execut...

The average loan size is only $6,000.
08/04/2021
Square Loans (Formerly Square Capital) Originated $627M in Small Business Loans in Q2

The average loan size is only $6,000.

Square Loans, the lending arm of the fintech bank Square, originated $627M of its Flex Loans in Q2, according to the company’s latest announcement. That brings the year-to-date total to $1.02B across 167,000 loans. The numbers produce a rough average of only $6,000 per loan. “After pausing flex ...

Lots of change at IOU!
08/04/2021
Wave of Management Changes Come to IOU Financial As it Ramps Up For the Future

Lots of change at IOU!

Small business lender IOU Financial is undergoing one of the largest management shakeups of 2021. The company announced a slew of new hires and new roles for existing team members early this morning. Joining the company are: Carl Brabander, EVP of Strategy Jason Stevens, VP of Loss Mitigation Sam Ab...

The OnDeck acquisition is proving to be majorly profitable.
08/03/2021
Enova Originated $400M in Small Business Loans in Q2

The OnDeck acquisition is proving to be majorly profitable.

Enova, the international lending firm that owns the OnDeck brand, reported Q2 small business loan originations of $400M. That brings the year-to-date figure to $722M, approximately half of the volume OnDeck was producing prior to Covid. (OnDeck’s 2019 originations were $2.475B) “OnDeck’s perfo...

Instant commissions, instant funding via stable coins!
08/02/2021
Velocity Capital Group Becomes First Funder to Offer Broker Commissions Via Crypto

Instant commissions, instant funding via stable coins!

Velocity Capital Group is bullish on crypto as a means of payment. Company President and CEO Jay Avigdor told deBanked that the company is officially incorporating cryptocurrency in two ways: (1) Brokers can now choose to get paid commissions in cryptocurrency instead of cash. (2) Merchants can now....

Big news for Greenbox Capital
07/29/2021
Greenbox Capital Acquired Level Up Funding

Big news for Greenbox Capital

Miami-based Greenbox Capital, a small business finance provider, has acquired Level Up Funding. Level Up, which focused on small business lines of credit, was co-founded in 2019 by industry veterans Maciej Bykowski, once the Director of Sales for OnDeck, and Drew Batiato, the former Chief Credit Off...

paying back a business loan through your credit card sales is now just something you can do at the bank.
07/20/2021
Square Capital is Now Just a Bank Loan Product

paying back a business loan through your credit card sales is now just something you can do at the bank.

Square Capital has been reduced to just one of several banking products under the Square Financial Services umbrella. That’s one result of Square successfully becoming a bank earlier this year. Loans will be one product offered alongside checking accounts, savings accounts, and debit cards. Just a...

National Funding on Growing its Team to Prepare for the Bull Run of 2022
07/15/2021
National Funding on Growing its Team to Prepare for the Bull Run of 2022

National Funding on Growing its Team to Prepare for the Bull Run of 2022

“We’re about people and platforms,” President of National Funding Joe Gaudio said. “PP: People and platforms, not PPP, that’s my little acronym.” National Funding is back and looking to hire fresh talent, rebuilding their team after the pandemic rolled through the California market. “W...

Wow, big news for The Fundworks! $70 million
07/14/2021
Fundworks Completes a Refinancing of its Capital Structure of up to $70 Million

Wow, big news for The Fundworks! $70 million

The Company Announced Today the Closing of a New Bank Credit Facility and the Issuance of Corporate Notes VAN NUYS, CA, July 13, 2021: The Fundworks, LLC, a leading a tech-enabled small business finance company, announced the recent closing of a $25.0 million Credit Facility with a commercial bank a...

LendUp Stops Making New Loans
07/10/2021
LendUp Stops Making New Loans

LendUp Stops Making New Loans

LendUp, a fintech lender that hoped to disrupt the payday loan industry, is no longer making new loans. A note posted on its website said “We are currently not offering loans to new customers.” When deBanked sat down with the now former CEO Sasha Orloff in 2017, he said that their product was si...

Wow!
07/08/2021
Clearco gets the SoftBank stamp of approval in new $215M round – TechCrunch

Wow!

Toronto-based Clearco, a fintech capital provider for online companies, has raised $215 million in a round led by SoftBank Vision Fund II. The financing event closed just weeks after Clearco completed its most recent financing, a $100 million round that quintupled its valuation to $2 billion. Clear....

The #1 side business that finance industry professionals tell us they do to make money is real estate. We spoke with Kur...
07/07/2021
Real Estate Investing Tips With Kurtavious Ball

The #1 side business that finance industry professionals tell us they do to make money is real estate. We spoke with Kurtavious Ball, a physician assistant near Philadelphia who walked us through how easy and hard investing in it can be.

deBanked TV: Real Estate Investing Tips With Kurtavious Ball

BREAKING NEWS:
07/07/2021
DataMerch.com Surpasses 50,000 Records

BREAKING NEWS:

DataMerch grows past 50,000 unique records entered by funder-members Tampa, July 7th, 2021 /DeBanked/ — DataMerch.com, an online underwriting database for the alternative financing industry, announced they had surpassed 50,000 records in their database. The company that was founded in 2015 has gro...

07/06/2021
deBanked

We're building up a free archive of Merchant Cash Advance tutorials and tips! See them here:

The official news channel for fintech, online lending, alternative finance, and more

Do you invest in crypto? You should probably be following the Tether story...
06/26/2021
Tether is Now So Big, Its Collapse Could Disrupt the Short-Term Credit Markets

Do you invest in crypto? You should probably be following the Tether story...

Mmore than $62.5 billion worth of Tethers have been printed in the last few years to facilitate liquidity in the crypto markets. The system has worked because the company behind Tether had long claimed that each unit of the digital currency was backed somewhere by a real dollar in a bank account. Th...

"Sean, would you actually recommend a merchant use alt finance that takes a percentage of their credit card sales?"Sean:...
06/17/2021
Would I Recommend Alt Funding? Yes, I've Used It Myself

"Sean, would you actually recommend a merchant use alt finance that takes a percentage of their credit card sales?"

Sean: Yes, because I've done this for my own business...

deBanked TV: Would I Recommend Alt Funding? Yes, I've Used It Myself

Split-funding deals are still a hot market but you have to be well acquainted with the payments space. Cash Buoy
06/15/2021
CC Splits Still Make Profits, Payments Knowledgeable Funders Benefit

Split-funding deals are still a hot market but you have to be well acquainted with the payments space.

Cash Buoy

Back in its heyday, the MCA industry began as credit card factoring. The original product was simple- purchase future credit card receivables, and collect a percentage of them every day: easy peasy. Then, the industry broadened into ACH, funding businesses that did not have credit card purchases and...

We've acquired the Lend Academy P2P/Investor Forum (just the forum, not the whole site) after it was seemingly permanent...
06/14/2021
LendAcademy P2P/Investor Forum is Returning

We've acquired the Lend Academy P2P/Investor Forum (just the forum, not the whole site) after it was seemingly permanently lost. We've been able to restore a lot of it back. Email [email protected] to restore account access.

The P2P Lending/Investor Forum formerly at LendAcademy.com is coming back! In late May, the online forum at LendAcademy.com went offline. Soon after, the forum URL was redirected to a note from the company that said the server hosting the data was no longer accessible. “Upon further investigation ...

So many people in alternative finance are also investing in real estate. We spoke with successful real estate investor R...
06/10/2021
Real Estate Investing With Ralph DiBugnara

So many people in alternative finance are also investing in real estate. We spoke with successful real estate investor Ralph DiBugnara about how to get started and how he got into the business.

deBanked TV: Real Estate Investing With Ralph DiBugnara

06/09/2021

Work harder, not smarter! Wait...what?

Thoughts?
06/02/2021
MCA Vets Launch Funding Crypto Token

Thoughts?

With years of funding experience, a duo is creating an MCA cryptocurrency called Seed Token to build better payment collections and take part in what they call the future of financial transactions. “We started with the notion of using smart contracts and algorithms and blockchain to quicken the co...

Tomorrow, Sean Murray will be LIVE with Oz Konar from Business Lending Blueprint on deBanked TV. We'll be together in pe...
06/01/2021

Tomorrow, Sean Murray will be LIVE with Oz Konar from Business Lending Blueprint on deBanked TV. We'll be together in person. Tune in!

Tomorrow, Sean Murray will be LIVE with Oz Konar from Business Lending Blueprint on deBanked TV. We'll be together in person. Tune in!

Have you seen Kabbage appear in your business Amex dashboard?
05/27/2021
Kabbage Spotted in American Express Cardholder Dashboard

Have you seen Kabbage appear in your business Amex dashboard?

American Express business cardholders may be seeing a notification from Kabbage in their online dashboards. This writer did today. “Introducing Kabbage®, now an American Express company. Streamline your business banking with Kabbage Checking™ and earn 1.10% APY on balances of up to $100,000, wi...

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