On Deck Capital
Launched in 2006, On Deck 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 platform, thousands of small businesses connect with capital 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 deploy capital to the Main Street small business market.
On Deck, the technology platform that connects Main Street directly to capital, announced the launch of On Deck Express, the fastest way for small businesses to access up to $25,000 in as fast as 24 hours online. On Deck Express is also On Deck’s most accessible loan yet, serving both Main Street and online businesses that have been open for at least one year.
BankSimple and On Deck Capital are both featured in this article about how the unique ways startups are using technology to transform the way financial services are delivered and to solve problems that traditional institutions have yet to successfully address.
At this month’s NY Tech Meetup, Mayor Michael R. Bloomberg announced the formation of the Mayor’s Council on Technology and Innovation. Mitch Jacobs, CEO and founder of On Deck Capital; was among those appointed to the committee.
