65 Percent Received a Tax Refund in 2018; 75 Percent Satisfied with Tax Return
NEW YORK, July 1, 2019 – A survey of small business owners issued today by OnDeck (NYSE: ONDK), the leader in online lending to small business, finds 65 percent of small businesses surveyed received a tax refund this year and 75 percent expressed satisfaction with the outcome of their 2018 tax returns.
Today’s announcement by OnDeck follows an April 2019 survey by the online lender that asked small businesses how they expected to be impacted by the Federal Tax Cuts and Jobs Act changes. At that time, a majority of small business owners were optimistic that the federal tax changes would help them grow their business in 2019. Two months later, almost two-thirds of small businesses now report receiving tax refunds.
Small Business Owners: Who received a refund for Tax Year 2018?
Small Business Owner Satisfaction: 2018 Tax Returns
“Our survey of small businesses reveals that the majority of respondents received a refund and they are satisfied with how the recent tax changes helped them in 2018,” said Andrea Gellert, Chief Revenue Officer, OnDeck. “Moving forward into an election year, OnDeck will continue to monitor the pulse of small businesses on the vital issue of tax changes and policy.”
OnDeck’s survey of small business owners and their opinions on the tax changes that resulted from the Tax Cuts and Jobs Act signed into law in 2017 was conducted from May 6 to May 8, 2019 by OnDeck. 700 US small businesses provided responses.
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 $11 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.
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