How they describe themselves:
On Deck Capital is a financing solution for Main Street businesses unable to
access traditional loans. On Deck’s proprietary, patent-pending underwriting and loan processing platform weaves
together transaction data, credit validation sources and banking infrastructure to obtain visibility into cash flow.
With this insight, On Deck is able to expand the availability of credit to small businesses by focusing on their cash
flow in addition to their credit history. On Deck directly services small businesses and also partners with lending
institutions to enhance their small business solution set. On Deck’s Board of Directors includes James Robinson III
and Dr. Alan Blinder.
What they think makes them better: Small business borrowers have historically been underserved, and are
facing huge challenges in the current credit crisis. Traditional lending typically involves weeks of underwriting,
and time-consuming collection of disparate paperwork, only to have the small business owner declined due to
personal credit score. In the alternative financing space, our primary competitors are merchant cash advance
providers that lend at rates equivalent to 100-200% APR due to their lack of insight into the business performance
of their customers. On Deck lends on business performance in addition to credit history, which has already
differentiated us from our competitors. And now, On Deck’s new Instant Decision (SM) application provides a fast
and seamless online experience that tells a small business owner in minutes whether they are pre-qualified for a
loan, and how much.
Executives: Mitch Jacobs (Founder and CEO), Noah Breslow (SVP of Products and Technology), Robert Aiello
(Director of Finance & Compliance), Russ Cutler (VP, Financial Institution Development), Howard Katzenberg
(Director of Strategic Development), Carrie Rattle (VP, Marketing), David Sapuppo (VP of Sales), Jorge Sun
(Senior Credit Officer), Dario Vergara (Senior Director of Technology)
Investors: Contour Ventures, First Round Capital, Khosla Ventures, RRE Ventures, Village Ventures
Contacts:
Biz Dev: Russ Cutler, rcutler@ondeckcapital.com, 212-876-8600 x114 or Noah Breslow,
nbreslow@ondeckcapital.com, 212-876-8600 x101
Sales: David Sappupo, dsapuppo@ondeckcapital.com, 212-876-8600 x110
Press: Jonathan Cutler, 818-981-3023, jonathan@verseinc.com |
