Oct 22, 2018

On Deck Capital, an online lender to small businesses, is teaming up with PNC Financial Services. On Deck’s pitch: Make loans to small businesses relatively quickly. It currently has $1 billion worth of loans on its balance sheet, but it can earn revenue by letting established banks use its underwriting technology. PNC, the eighth largest American bank, says using On Deck will cut costs, speed up lending and help find new customers. (JPMorgan Chase has worked with On Deck since 2016.)

PNC’s small business customers should be able to get a loan through On Deck within hours. “By compressing weeks down to a couple of hours, and eventually minutes, you transform the way small business access capital,” Noah Breslow, On Deck’s chief executive, told Peter Eavis. (The service will also be open to businesses that aren’t PNC clients.)

Take your business further with the experts in small business lending

Apply in minutes

— No obligation

Apply Now

Would you rather talk to us?

Give us a call

(888) 269-4246