Parasail Health has built a lending platform to support loans for healthcare expenses; firm has partnered with healthcare companies to provide alternative payment options for healthcare needs; Parasail currently has contracts with over 700 providers and has built integration capabilities for approximately 15 channel partners; offers loans and simplified payment processing for a range of healthcare expenses. Source
Online small business lenders use digital and direct marketing to help find new customers but the best way to grow...
Patch Homes has officially launched after operating in private beta; the platform seeks to allow homeowners to greater utilize the equity in their homes; by offering investment versus a home equity loan, homeowners contract with Patch Homes for capital proceeds that can be used for any type of financing needs; Patch Homes then shares in the gains and losses on the home's value over the contracted timeframe; Patch Homes has identified a $4.5 trillion home equity market in the US; along with its launch it also announced $1 million in fundraising to support its growth and to expand its offering beyond California. Source
Los Angeles-based Patch of Land has expanded its executive leadership team to help manage and continue business growth and market positioning for the online real estate platform; the firm has hired Robert Greenberg as its chief marketing officer and Min Lee as its chief financial officer; over the past year the firm has been building a strong leadership team with a number of new hires including CEO Paul Deitch; the firm's founders, Jason and Brian Fritton, have substantial growth prospects for the firm and expect to continue building on the firm's compound annual growth rate of 290%. Source
Patch of Land has filed a Form D 506c with the Securities and Exchange Commission; it seeks to raise $3.2 million in debt capital with a minimum investment of $250,000; the company has already raised $1.5 million; the company raised a total of $23.6 million in 2015 and has facilitated over $100 million in loans. Source
Online real estate lender and crowdfunding platform Patch of Land has hired Matthew Zall to serve as its new chief investment product officer; the new hire occurs as Patch of Land plans to expand into the single-family rental market, identifying an opportunity to capitalize on the 24 million US single-family units valued at over $6 trillion; Zall's experience includes single-family loan structuring at Blackstone Group subsidiary B2R Finance; he has also worked as a commercial real estate trader at J.P. Morgan and Bear Stearns; in comments regarding the new hire, Paul Deitch, Patch of Land's chief executive officer said, "The addition of Matt enables us to continue the expansion of our marketplace to fully serve the lending needs of more than 10 million Americans who directly invest in single-family residential properties and need consistent, reliable access to capital to fuel their businesses." Source
Patreon is a popular platform for creators to receive support from their fans; the company has now launched Patreon Capital,...
Representative Patrick McHenry says Dodd-Frank reform is not likely to make it to the House of Representatives until June or July; he is confident in major changes for the regulation from the House of Representatives however he foresees opposition from Senate democrats; in an interview with WSJ Pro Financial Regulation he also provided his insight on a range of regulatory aspects which could be integrated into legislation in various ways. Source
Project Catalyst is a CFPB initiative designed to allow the Bureau to collaborate with startups, nonprofits and banks on new financial innovations; Patrick McHenry writes about the initiative's failed attempt for innovation through its no-action letter provision and instead says the Bureau should favor using sandbox programs; in Patrick McHenry's opinion editorial he argues for a better innovation testing environment, stating, "Congress needs to provide our federal regulators the ability to create a permanent beta testing environment that allows the agencies to test whether financial products are what they claim to be, while allowing a startup's compliance officer - who is usually the company's founder - peace of mind." Source
Patrick McHenry is working with a Senate Democrat on a bill for fintech beta testing; he introduced the Financial Innovation Act in the House of Representatives in 2016 which did not advance; the Financial Innovation Act included the creation of innovation offices with 12 regulatory agencies; he says the 2017 version of the act will include "significant changes and revisions"; he plans to introduce the new bill in two months. Source