Friday, May 29, 2015

Lender lifts lid on Shark Tank pay-to-play

Amir Kassar says his MultiFunding is an easier way to raise cash for good ideas.

Lender lifts lid on Shark Tank pay-to-play

Amir Kassar, the ex-Advanta Corp. executive who runs online small-business loan-broker MultiFunding Corp. from an office up in Broad Axe, Montgomery County, created a minor stir this morning when he posted this item about ABC's popular Shark Tank fund-an-entrepreneur TV reality-type show.

Turns out that, for the chance to raise money from millionaire and Dallas Mavericks owner Mark Cuban and his fellow hosts, competitors can be asked to pledge 5% of their company or 2% of future operating profits.

Bad deal, says Kassar; but then he would, he's in the competitive business of finding business-owners money (from lenders like Philly's Valley Green Bank) at today's low rates while keeping a profitable fee. 

About this blog

PhillyDeals posts drafts, transcripts and updates of Joseph N. DiStefano's columns and stories about Philly-area business, which he's been writing since 1989.

DiStefano studied economics, history and a little engineering at Penn and taught writing at St. Joseph's. He has written thousands of columns and articles for the Inquirer, Bloomberg and other media, wrote the book Comcasted, and raised six children with his wife, who is a saint.

Reach Joseph N. at,, 215.854.5194 or 302.652.2004.

Reach Joseph N. at or 215 854 5194.

Joseph N. DiStefano