NEW YORK, Sept. 23, 2020 /PRNewswire/ -- OnDeck®
(NYSE: ONDK), a leader in online small business lending, today
announced it has surpassed $1 billion
in financing to small businesses across the State of New York. Small businesses are the
lifeblood of the American economy and have an enormous impact and
influence on the communities in which they reside. This significant
milestone demonstrates OnDeck's commitment to supporting thousands
of small businesses statewide over the past 14 years.
As a New York City
(NYC)-headquartered company, OnDeck makes this announcement in
partnership with the New York
City's Economic Development Corporation's (EDC) All In
NYC Campaign. All In NYC is designed to remind the world
of the spirit of New Yorkers and small business owners. During the
two-week campaign, participating companies are highlighting how
significant NYC small businesses are to the wellbeing of the
city.
Since 2007, OnDeck has lent nearly $500
million to businesses in NYC. NYC has an abundance of small
businesses that support, improve, innovate, and benefit the lives
of New Yorkers daily. Now, more than ever, OnDeck remains committed
to assisting these small businesses by providing them with the
access, choice, and transparency in securing the financing they
need to navigate the pandemic and the re-opening of the
economy.
"I'm thrilled that OnDeck has been able to support so many
New York-based small businesses
over the past 14 years and that nearly half of that lending has
gone to small businesses located in New
York City, where we are headquartered," said Noah Breslow, CEO and Chairman, OnDeck. "We're
proud to be a New York born and
bred company and to be able to serve the small businesses that
represent the unique and vibrant identity of NYC make it a great
place to live and work."
As NYC and New York State look
to recover and re-open from the global pandemic, serving and
supporting small business owners has never been more important.
We've supported New York
businesses for over a decade and will continue to advocate for
small businesses in New York and
around the nation.
A fundamental part of OnDeck's advocacy for small businesses has
been supporting legislation that advances transparency in small
business lending disclosures. OnDeck is proud to have partnered
with the NY State Senate and General Assembly to promote and pass
SB5470, legislation that requires online lenders doing business in
the State of New York to present
small business borrowers with a clear, concise disclosure of the
key terms and conditions of their loan. New York has some of the best and most
resilient businesses in the world, and we believe this legislation
ensures that New York small
businesses receive clear and transparent terms from their
lenders.
About OnDeck
OnDeck (NYSE: ONDK) is the proven
leader in transparent and responsible online lending to small
business. Founded in 2006, the company pioneered the use of
data analytics and digital technology to make real-time lending
decisions and deliver capital rapidly to small businesses
online. Today, OnDeck offers a wide range of term loans
and lines of credit customized for the needs of small business
owners. The company also offers bank clients a
comprehensive technology and services platform that facilitates
online lending to small business customers through ODX, a wholly
owned subsidiary. OnDeck has provided over $13 billion in loans to customers in 700
different industries across the United
States, Canada and
Australia. The company has an A+
rating with the Better Business Bureau and is rated 5 stars by
Trustpilot. For more information, visit www.ondeck.com.
Media Contact:
Patrick
Cuff
OnDeck
pcuff@ondeck.com
P: (708) 846-7827
Investor Contact:
Stephen Klimas
OnDeck
sklimas@ondeck.com
P: (646) 668-3582
OnDeck, the OnDeck logo, OnDeck Score, ODX and OnDeck
Marketplace are trademarks of On Deck Capital, Inc.
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SOURCE On Deck Capital, Inc.