Educational Content and Advice to Help Navigate the World of Financing
NEW YORK, June 17, 2014 – OnDeck (www.ondeck.com), the technology-powered Main Street lender, announced today their sponsorship of SCORE (www.score.org), America’s premier source of free and confidential small business mentoring and advice. OnDeck’s sponsorship will include providing original educational web content for both business owners and SCORE mentors to help them understand and navigate the quickly changing lending landscape.
Both OnDeck and SCORE share a passion for small business success. More than half a million entrepreneurs count on SCORE each year for free mentoring, resources and information about launching and growing small businesses. In 2013 alone, SCORE advised 124,000 businesses, which helped to create 67,000 jobs. And OnDeck recently released their Economic Impact Report, which estimated that $3.3 billion in business activity and 22,000 jobs have been created through OnDeck’s loans to date.
“The partnership with SCORE was a natural fit for us,” said Andrea Gellert, senior vice president of marketing, OnDeck. “We are both dedicated to empowering Main Street and providing valuable education content about the small business lending landscape.”
“Financial literacy is such a critical part of successful business ownership,” said David R. Bobbitt, executive director, The SCORE Foundation. “We are grateful that OnDeck’s expertise can help our small business clients and any entrepreneur who visits www.score.org.”
OnDeck’s use of disruptive technology has fundamentally transformed how growth capital flows to Main Street. The company’s platform and proprietary business score, the OnDeck Score, enables fast application, approval and funding processes that have helped trigger strong momentum across Main Street. To date, OnDeck has financed over $1 billion in small business loans in all 50 states across approximately 700 industries. For more information please visit www.OnDeck.com.
Launched in 2007, OnDeck uses data aggregation and electronic payment technology to evaluate the financial health of small and medium sized businesses and efficiently deliver capital to a market underserved by banks. Through the OnDeck platform, millions of small businesses can obtain affordable loans with a fraction of the time and effort that it takes through traditional channels. The company’s proprietary credit models look deeper into the health of businesses, focusing on overall business performance, rather than the owner’s personal credit history. The OnDeck system also provides a critically needed mechanism for financial institutions and other business service providers to efficiently reach the Main Street small business market.
OnDeck has deployed more than $1 billion in capital to tens of thousands of businesses across 700 different industries. The company grew 150% in 2013, and was recently named #11 on Forbes’ 100 Most Promising Companies in America list and was listed on the Inc. 500/5000 for a second year in a row. The company also has earned an A+ rating with the Better Business Bureau. OnDeck is financed by some of the nation’s leading venture capital firms, including Google Ventures, SAP Ventures, RRE Ventures, Institutional Venture Partners and Tiger Global.
Since 1964, SCORE has helped more than 10 million aspiring entrepreneurs. Each year, SCORE provides small business mentoring, workshops and education to more than 375,000 new and growing small businesses. More than 11,000 business experts volunteer as mentors in over 320 chapters serving local communities with entrepreneur education.
For more information about starting or operating a small business, call 1-800/634-0245 for the SCORE chapter nearest you. Visit SCORE at www.score.org. Connect with SCORE at www.facebook.com/SCOREFans and www.twitter.com/SCOREMentors.