On Deck, the technology platform that connects Main Street directly to capital, today announced another key growth milestone. The company has reached 1,000 distribution partners who work directly with small businesses to connect them to much needed financing, and provide key insights and guidance on how to best secure capital for their operational needs. The surge in On Deck’s partner network is a direct result of the company’s innovative solution to identifying creditworthy small businesses and providing them with financing to help grow their businesses.
Over the past year, On Deck’s distribution network has experienced strong growth among small business service providers such as accountants, payroll firms, and web-based businesses offering small business tools and applications. These partners are helping to connect the millions of local small businesses that are the engine of the U.S. economy to the financing they need to grow. Combined, these partners reach more than 1 million Main Street businesses nationwide.
Many of these partners are leveraging On Deck’s API to connect seamlessly to the On Deck financing platform. To bring increased efficiency to the small business lending process, these partners are incorporating On Deck’s loan origination and credit scoring functionality into their own software applications. Launched in January, the API is enabling a new category of partners to efficiently deliver financing to their customers.
“As we continue to improve the way small businesses access capital, strengthening our already robust partner network is key,” said Brad Kime, president, On Deck. “Reaching 1,000 distribution partnerships underscores the strong demand from Main Street for On Deck’s products and services. Financing this sector is triggering job creation and helping with the country’s continued economic recovery.”
All On Deck partners gain access to the industry leading On Deck Partner Portal – a powerful online platform where partners can submit, track and monitor loans and applications in real time. On Deck’s partner program also includes dedicated account management, customized training and webinars, online revenue management tools as well as turnkey marketing programs designed to maximize partner success.
“As a company that works daily with thousands of small business customers, I understand the challenges they face obtaining capital to grow and sustain their business,” said Andy Aziz, executive vice president, True Payroll Integration. “Working with On Deck provides our company with an efficient way to deliver a proven and in-demand financing solution to creditworthy businesses nationwide.”
On Deck’s proprietary technology platform is a proven system that evaluates the creditworthiness of small businesses based on factors reflecting the true financial health of a business – rather than the traditional benchmark of the personal credit score. The typical On Deck customer is a “Main Street” business (retailer, restaurant, salon, dentist, florist, etc.) that has been in business more than one year and has revenue between $300,000 and $3,000,000.
Potential partners interested in joining On Deck’s Funding Advisor program are encouraged to contact On Deck for additional information. The company can be reached via phone at 888-269-4246 or by email at partners@ondeckcapital.com.
About On Deck
Launched in 2007, On Deck Capital uses data aggregation and electronic payment technology to evaluate the financial health of small businesses and to efficiently deliver capital to a market underserved by traditional bank loans. Through the On Deck Capital platform, millions of small businesses can obtain affordable loans to meet their daily operating and long term goals. The company’s proprietary platform looks deeper into the health of small businesses, focusing on the overall business performance, rather than the owner’s personal credit history. The On Deck system also provides a critically needed mechanism for commercial institutions to efficiently reach and serve the historically underserved Main Street small businesses market.
On Deck Capital is financed by some of the nation's leading venture capital firms, including SAP Ventures, Contour Venture Partners, First Round Capital, Khosla Ventures, RRE Ventures and Village Ventures. For more information, please visit: www.ondeckcapital.com.