NEW YORK – December 3, 2014 – AmeriMerchant, a leading financial technology company that provides business loans and merchant cash advance solutions for businesses since 2002, today announced William Franey has joined the company as Chief Financial Officer (CFO). Franey, a Certified Public Accountant, brings more than 20 years of financial services industry experience to his new position. He is leading the Finance team at AmeriMerchant, and plays a key role in long-range strategic planning and initiatives for the company.
Prior to joining AmeriMerchant, Franey served as Vice President of Finance at NYSE Euronext (New York Stock Exchange), a global operator of financial market and trading solutions. Previously, Franey was Corporate Controller at NYFIX Inc. (acquired by NYSE Euronext in November 2009), and Controller at Tullett Prebon. He gained Public Accounting experience while working at KPMG Peat Marwick.
“Bill brings extensive knowledge of the financial services industry and deep leadership skills that will help us plan and execute our immediate and long-term strategies,” said David Goldin, CEO and President of AmeriMerchant. “We’re delighted to add him to our executive team as we build on our …
Last week in Las Vegas, First Data unveiled Clover, a wireless, tablet-based Point-of-Sale system. Fully equipped, forward thinking, and ultra durable, it was a signal that the 45-year old payment processor is still number one for a reason. Unveiled in private the night before the official release, CEO Frank Bisignano oohed and aahed the crowd with the new gadgetry. First Data might not be the most talked about company in payment processing circles, but they’re probably the most respected.
In the 21st century rush to marketplace domination, the modern entrepreneurial slogan is adapt or die. But the aggressive tech crowd often misunderstands who that applies to. In the case of Square, a payments industry newcomer and First Data competitor, their company is less a business than it is a cultural movement. In 2012, Square CEO Jack Dorsey communicated Square as being something even bigger, a revolution.
Adapt or die has been a cornerstone of the Square revolution, but the question remains, is it everyone else that needs to adapt or is it Square? Earlier this year, The Wall Street Journal reported that Square …
If the Money20/20 conference handed out medals for popularity, nonbank business financing companies would’ve warranted participation ribbons for showing up at best. Approximately 1% – 2% of the conference’s attendees would likely have identified themselves as a short term business lender or merchant cash advance company.
In a crowd of 7,500 financial professionals, business lenders were background noise, marginalized bystanders to the great fintech disruption table. Somewhere up in the merchant cash advance heavens Rodney Dangerfield probably looked around the conference and said, “I don’t get no respect!”
Even Bitcoin overshadowed business lending’s technological rock stars, but perhaps with justifiable reason. Bitcoins began to have value in 2010 and by the end of 2013, had a market capitalization of $13.9 billion. Contrast that against the relatively slow growth of the merchant cash advance industry, which produced only $3 billion in funding volume in its 15th year.
And while bitcoins have lost a lot of their value, they still currently have a market cap of $4.6 billion. Not bad for an intangible currency run by nobody and created by an anonymous elusive legend known only as Satoshi.
LAS VEGAS, NV. NOVEMBER 3 2014—LendVantage is honored to announce that it has agreed to a sponsorship deal with CNBC’s hit television show “Shark Tank”. The reality series, which features aspiring entrepreneurs pitching business ideas to potential millionaire investors, has been a ratings bonanza for CNBC, giving the cable network its highest prime-time audience in six years.
LendVantage, which gives small businesses easier access to capital they need to grow, is airing two spots during the 8 p.m. (EST) time slot of Shark Tank, Monday through Friday for the rest of the year. The show, which debuted in 2009, features Dallas Mavericks owner Mark Cuban, and real estate magnet Barbara Corcoran among its panel of “sharks.” Other sharks have become household names due to the popularity of the show, including Daymond John, Kevin O’Leary, Robert Herjavec and Lori Greiner.
“We are proud to be a presenting sponsor of Shark Tank,” said Charles Benard, Co-Founder and Managing Partner of LendVantage. “The show has done such an incredible job of highlighting the boundless creativity and drive of America’s entrepreneurs and small businesses. …
The 2014 Lend360 conference in New Orleans brought consumer lenders and business lenders together for a three-day event that set attendees off on a collaborative mission, to do what’s best for the customer.
Heavy hitters from both sides of the lending aisle coalesced with industry renowned attorneys, politicians, and institutional investment groups. Lend360 at its core was a brain trust for standards and best practices.
Two industry captains, David Goldin of AmeriMerchant and Jeremy Brown of RapidAdvance, walked the crowd of nearly 500 people through the history and methodologies of merchant cash advance financing. Several consumer lenders described the two-man panel as a wake up call. “Wow, there’s a real market there,” said a lead generator who asked not to be identified. Goldin and Brown were up on stage twice at the conference.
“We don’t really consider banks as a competitor,” Goldin explained. Much like the consumer lenders in attendance, merchant cash advance companies described helping the underbanked, customers that can’t get a bank loan.
Brown, who like Goldin is also a founding member of the North American Merchant Advance Association, believes there are similarities …
Building a bridge takes experience, technical aptitude, and passion – qualities found in abundance at Quick Bridge Funding.
Ben Gold and Jason Osiecki were among four co-founders in 2011 motivated to create a timely, efficient, and personalized lending experience. Ranked #1 Fastest Growing Private Midsized Company by the Orange County Business Journal, Quick Bridge has grown exponentially from 1.5 million to 34.7 million in revenue between June 2011 and 2014.
“All of our business is sourced through broker partners,” Gold said. “Prior to starting Quick Bridge, Jason had I had both worked in the equipment leasing/financing vertical since 2003.”
As former loan originators, the business partners understood the pain points and keys to building relationships that bridge the broker-lender credibility gap.
“We care most about developing lasting sales partnerships, not simply getting an application,” Osiecki said. “Consistency and transparency are the building blocks of trust.
“Our partners bring the same level of passion and intensity toward providing fast and efficient products to their customers. As an originator, nothing is worse than feeling that a lender doesn’t care. Who wants to receive an automated response that …