Yalber Obtains $20 Million Credit Facility

A leading FinTech-driven financing company for small and mid-sized businesses, Yalber, has announced the closing of a $20 million senior credit facility to increase its funding capabilities.

“We are pleased to announce this $20 million credit investment, which increases our funding capabilities and enhances our ability to take advantage of significant market opportunities,” stated Yalber’s CEO, Amir Landsman. “The new facility, from a leading institutional financing partner, is a validation of the strength of our team, our track record of success and the robust platform that Yalber has built.”

Since its founding, Yalber has provided more than 5,000 businesses with over $300 million in working capital solutions to grow. Proceeds from the transaction will be used by the Company to execute its strategic growth plan and accelerate their ability to provide more small businesses with access to attractive non-bank financing.

Mr. Landsman continued, “Small businesses are thriving; representing 99 percent of all U.S businesses, 60 percent of total net job creation and 46 percent of private nonfarm GDP. Yet, bank credit to this important sector of the economy has contracted sharply. It is estimated that the amount of small business loan originations plummeted by more than half during the financial crisis and has seen only a very limited recovery post-crisis, leaving small business loan originations down 40 percent.”

Small businesses are thriving; representing 99 percent of all U.S businesses, 60 percent of total net job creation and 46 percent of private nonfarm GDP. Yet, bank credit to this important sector of the economy has contracted sharply. It is estimated that the amount of small business loan originations plummeted by more than half during the financial crisis and has seen only a very limited recovery post-crisis, leaving small business loan originations down 40 percent.

When small businesses find it hard to overcome funding issues from traditional sources of capital, Yalber remains committed to helping them accomplish their goals. Yalber offers small business owners in a variety of industries across the U.S. the option to fund their businesses for any purpose with up to $500,000. The Company’s technology-enabled platform allows for a streamlined process, with most qualified businesses funded within 24 hours.

Mr. Landsman concluded, “The closing of this transaction demonstrates that institutional investors have confidence in our business model and expect to see continued, rapid growth.”

Brean Capital served as exclusive financial advisor to the Company on the transaction. The senior credit facility provided by an institutional credit fund focused on specialty finance and related investments.

About Yalber

Founded in 2007 and headquartered in New York City with strategic offices in Dallas, Los Angeles and San Francisco, Yalber is a technology-enabled specialty lender, leveraging proprietary origination, disciplined underwriting and performance analytics to improve the speed, cost and choice of capital available to small and mid-sized businesses throughout the U.S.

Setting the Record Straight

When did you last Google your name or your company name? Or maybe a colleague or a company you are doing business with? How credible is the information you find? We all know that you have to take some of the search results ‘with a pinch of salt’.

We have our senses and instincts that help us seperate credible from the non-credible. Fake news rings a bell? For example, a government website is considered to be a credible source, but did you think otherwise? Can information on a government website could be incorrect, wrong or misleading?

Lets say someone was wrongly arrested – your friend, or an employee candidate. You look her up and find an arrest record. You should stay away, right? Well, not really. An arrest or an indictment are not a conviction. While the record may reside on the prosecutor website for years to come, the case could have been dismissed. But the dismissal is usually not as sensational as the indictment, so you are likely to see only the negative rather than the positive. This is how it works these days, and we know it from experience.

On November 10th 2015, Wilkey Legal Consultants, LLC published an article on the PRNewswire entitled: Class-Action Filed on Behalf of Asian-American and U.S. Business Owners Against National Finance Lender H-Capital Advance a/d/b/a Yalber. The article was self-promotional. Although the class action was later dismissed, one is hard pressed to find that on the internet. The dismissal only appears occasionally and far below the original Wilkey posting.

Now, over two-years later, Yalber on behalf of its affiliates, Got Capital, LLC, YLH, LLC, Kedma Capital, LLC, S-Capital, LLC, and Perfect Funding, Inc. wants to set the record straight.

The author of the November 10, 2015 release, Robert Wilkey was originally one of the attorneys for the plaintiffs in the class-action. Mr. Wilkey was forced to withdraw from the case when it was determined he was not admitted to the federal court where the case was to be litigated. He was ably replaced by his co-counsel.

From the standpoint of the plaintiffs, the class action was a disaster. The plaintiffs had to file two amended complaints to stave off dismissal motions filed by Yalber. Ultimately, the federal court judge dismissed 10 counts of the complaint and two of the plaintiffs were dropped from the case. A class-action hearing resulted in another victory for Yalber: the federal judge refusing to certify their case as a class-action.

“MEMORANDUM AND ORDER THAT PLAINTIFFS MOTION (DOC. 49) IS DENIED AS THE MERCHANT PLAINTIFF’S OFFER NO CLASS REPRESENTATIVE ADEQUATE TO REPRESENT THE MERCHANT CLASS AS EACH NAMED CLASS REPRESENTATIVE WAIVED ITS RIGHT TO PARTICIPATE IN A CLASS ACTION IN EXCHANGE FOR BUSINESS FINANCING. May 27th 2015

Shortly after the plaintiffs lost their class-action, the federal court dismissed what remained of the case with prejudice. After the case was dismissed, each of the remaining plaintiffs stated in writing that  they “Now having the benefit of discovery provided in the civil action, withdraw their assertion that the transactions referenced in the second amended complaint were loans or instances of predatory lending.”

You can’t change the way search engines work, but what you can do is make sure your story and narrative is not going to be lost within the endless amounts of search results.

 

Looking for funding? Apply here.

 

Purchase Order Financing: Funding without the Hassle

We at Yalber, are highly determined in making business financing simple and easy for our loyal customers. We are passionate to making sure our customers have a positive and streamline funding experience. We don’t only offer MCA funding,we also offer Purchase Order Financing.

What is P.O financing you ask?

It is a funding option for business owners that need cash to fill single or multiple customer orders. Cash flow problems do exist for many business owners- and Yalber is here to help.  There will be times when there is not enough money to cover expenses in a business. For an example, an owner of a kitchen appliance store may get more demand for a heavy duty oven they have…than supply. If they turn down orders- they can lose revenue, quickly.  It can also tarnish reputation and restaurateurs  may go elsewhere for their kitchen needs. To avoid this scenario, it is imperative that businesses find the capital that they need. A Purchase order financing can be a great alternative to traditional funding.

How does it work?

It involves one company paying the supplier of another company, for goods that have been ordered to fulfill a job for a customer. Many Purchase order financing services have way too many requirements to secure their funding. These requirements can also prohibit and limit capital access to new businesses. At Yalber, we put our financial expertise to work. We offer a solution without the hassle and less requirements. We are determined to making sure you never have to stop gaining revenue and your business stays afloat, always….and that is the Yalber way.

Looking for funding? Apply here.

8 Invoicing Mistakes

Invoicing sucks. It can be highly tedious with tons of numbers and something that people may leave to the last minute. But it is absolutely crucial, if you want your business to maintain an organized and positive cash flow.  In order to get compensated for your goods or services on time, there are some mistakes you have to avoid! Capitalize on opportunities and don’t let them slide by!

1) Procrastination

It’s not college anymore. You can’t leave things to the last minute. The best time to sent out an invoice is immediately following the completion of a sale.

2) Having unclear terms

When writing out an invoice, avoid using vague language. If you want the client to pay the invoice in a timely manner- make sure that you include a clearly state item description, prices and quantities.

3) Not itemizing services

Some clients require a detailed and itemize service breakdown. For many customers it can be a matter of procedure and helps tracking, recording and reporting expenses.

4) Poor formatting or editing

 Always make sure that your invoice looks super tidy as the button down white shirt you are wearing. Spelling errors, incorrect dollar amounts and generic formatting can make your business look unprofessional. It can also prevent you from receiving correct payments on time. Always make sure you double check and proofread your invoices- so you can catch them before they are sent out.

5) Not understanding invoice factoring

Invoice factoring is a popular option when you need funding fast. In a nutshell, it is an option that you can sell unpaid invoices to an invoice factoring company for cash–*hint* YALBER OFFERS THIS*

6) Not branding your invoices

Having a company logo on your invoice can verify it to be an established brand and differentiates you from other invoices that your client’s are receiving. You can also take advantage of this to vamp up your branding opportunity and awareness!

7) Not taking your invoice as a marketing opportunity

Invoices can be a great medium between your company and your customer- to know more about your products.  You can use the invoice as a marketing tool- this can have a positive affect and increase your revenue! When you send out an invoice, try including marketing materials such as newsletters or promotional flyers.

 

8) Sending an invoice with hidden charges

This is a massive no-no. Transparency is key to any business-to-business relationship. When sending an invoice, each charge should match the terms and expectations as agreed upon by both parties.

Bottom-line: Avoid these common mistakes businesses make when they send out invoices- as a business owner you should always strive for a streamlined transaction process. Cash flow is critical to managing day-to-day operations and is key to maintain a stable organizational structure.

 

What mistakes do you think are also important to address?

Please comment below – we would love to hear what the rest of the business community is saying!

 

Looking for funding? Apply here.

What is Invoice Financing?

Did you know as a business owner you have the ability to turn your unpaid customer invoices into fast cash?

With invoice factoring…its is ‘Mission Possible’.

Invoice Financing is also known as Factor Financing- it a great and easy solution for businesses offering their clients a specific payment terms. Offering easy terms to your clients is a viable asset for businesses.

Invoice financing is fast. It can provide immediate working capital to help cover a funding gap caused by slow payments from customers. Also it improves cash flow in a small business. You can keep loyal customers on longer payment terms but still improved your cash flow- helping your business grow. Yalber provides an easy and quick capital to companies that might not be able to get it from other sources- like a traditional bank.  A big benefit of invoice financing is that no collateral is required- no hassle…the Yalber way.

 

Looking for funding? Apply here.

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