The On Deck Team had a record breaking year in 2013 with a growth rate of over 100% and more than $350 million delivered to small businesses nationwide. By tripling the number of distribution partners to 1,500 nationwide, expanding our bank partnerships, and unveiling the On Deck API, we continued to advance our mission of bringing Main Street closer to capital than ever before.
We made substantial progress this year in connecting this historically underserved market to capital. A few highlights:
- Repeat customers grew to 34%
- 93% of customers would recommend On Deck to another business
- In just 90 days after taking an On Deck loan, the average business grows revenues by 24%
- On Deck improved distribution and lending ability across many industries. Range of industries served shot up 171% to 725 different types
To read more about how our CEO Noah Breslow thinks we’re going to continue our progress in 2013, click here.