(New York, NY) October 22, 2012 – Noah Breslow, chief executive officer of On Deck, the technology-powered Main Street lender, has been selected to participate on the panel Borrowing & Credit: Sophisticated Propositions for Resource-Constrained Businesses at the 2012 Money 2020 Expo in Las Vegas on October 23rd. The conference, which gathers innovators in payments and financial services, will focus on how businesses are using money now and in the future. The panel will zero in on how new advances are changing the business lending landscape in the U.S. today.
Demand for small business financing continues to surge, yet banks still lack the infrastructure and technology to efficiently underwrite sub $150,000 small business loans. This has led the industry to produce game changers in technological innovation. New forms for borrowing have recently emerged, including efficient services to evaluate customer creditworthiness, specialty financing for online and retail merchants, peer-to-peer lending, loans based on new data streams and marketplaces that match borrowers and lenders.
“Innovation in technology is what’s driving our economy forward and will act as a catalyst to help solve some of our economy’s most pressing problems,” said Noah Breslow, chief executive officer, On Deck. “At On Deck, we always look forward to discussing the cutting edge solutions we have developed and what they mean for the future of Main Street lending and banking.”
In the panel discussion, Noah will focus on the On Deck technology solution and its role in helping to solve Main Street’s difficulty in accessing capital. On Deck’s innovative technology platform is a key, viable solution to the challenge small businesses face in accessing capital. The On Deck system provides the infrastructure needed to evaluate businesses effectively and efficiently based on electronic performance data, rather than relying solely on the business owner’s personal credit score. To date, the On Deck platform has delivered over $300M to thousands of retailers, restaurants, doctors’ offices, auto repair shops and other local service businesses that make up the growth engine of our economy.
As the first employee of On Deck, Noah has overseen the strategic direction for product development, marketing and operations since 2007. Breslow has substantial experience in launching and scaling venture-backed software companies. Prior to On Deck, he served as Vice President of Marketing and Product Management for Tacit Networks, a leading provider of enterprise IT products. Breslow helped steer the company from customer trails through its growth to over 100 employees, and its successful sale to a public company.
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.