Saturday, August 23, 2014
Inquirer Daily News

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 dot.com 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. 

Joseph N. DiStefano
About this blog

PhillyDeals posts raw drafts and updates of Joseph N. DiStefano's columns and stories about Philly-area finance, investment, commercial real estate, tech, hiring and public spending, which he's been writing since 1989, mostly for the Philadelphia Inquirer.

DiStefano studied economics, history and a little engineering at Penn, taught writing at St. Joe's, and has written the book Comcasted, more than a thousand columns, and thousands of articles, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano
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