Letters From the Editors
Are You Ready?
The time has come for a magazine dedicated to the men and women that fund small businesses daily. Whether it’s lending money or buying future revenues, DailyFunder aims to cover an industry that seems to reinvent itself ever year. Banks aren’t lending, but so what? There are hundreds or perhaps even thousands of private companies out there filling the gap. Technology, creativity, and intuition are making deals that once seemed impossible, possible. So whether the need is a few thousand dollars or a million, small businesses have options like they never have before.
But who’s keeping score? For too long, this industry has been a footnote in payment processing and technology trade journals. Somehow a multi- billion dollar a year market has struggled to tell its own story. How did it start? Where is it going? Who’s in it? Why do certain events matter? DailyFunder will try to serve as a voice for the small business lending and merchant cash advance financing community. To those that are already a part of our growing online social network at dailyfunder.com, we hope this does you justice. And to those just learning about us for the first time, hold on to your hats and put on your funding pants, because we promise this industry is full of adventure.
By: Sean Murray
I’m particularly excited for this first ever issue of DailyFunder. Many of you may know me already as the man behind Merchant Processing Resource, an online blog dedicated to the merchant cash advance industry since 2010.
For a long time merchant cash advance was the industry that nobody talked about. It was eerie to surf the Internet and find nothing other than a list of toll free numbers to call for immediate working capital. Who were these companies? How did their funding programs really work? And more importantly, who was behind them? I suspected that many people had these questions and I set out to provide some simple answers where anyone looking could find them.
I got my first start in the merchant cash advance business in 2006.That seems like a lifetime ago. It was before the Great Recession, the ACH repayment boom, starter advances, and technology assisted underwriting. It was before AdvanceMe had their patent on split- processing invalidated. It was a different era. Today the industry is much larger, much more dynamic, and competitive. Merchant cash advance is just one piece of the pie. DailyFunder will seek to cover everything related to non-bank business financing. What are the latest developments? How many deals are being funded? I suspect that in 2014 and beyond, people are going to be asking these questions and when they do, there should be a resource to turn to. This magazine will be the authoritative source for industry information. We invite you all to contribute.
By: David Rubin
Greetings and a warm welcome to our very first issue of DailyFunder Magazine! We couldn’t be more excited to have made it to this point. Please take some time to get to know the layout of our magazine. You can look at one category at a time or just peruse the articles and contributions. Similar to using our online forum and mobile app, you may want to sit and read the whole thing at once or come back to this issue several times to digest each article in its entirety. When we set out to create a magazine that would promote Merchant Cash Advance and Alternative Funding Markets, one thing we agreed on right away was to steer-away from the glossy images of the too perfect, product driven magazines that we all sometimes read. What you will find in the pages of DailyFunder is a collection of inspired and instructive articles written by real, honest, down-to- earth folks who work hard to live deliberately, but who are not afraid to admit the struggles we sometimes face. We are honored to share the work of so many committed and thoughtful people.
We appreciate your support and are so happy to have you as a reader of DailyFunder.
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