OnDeck Announces New Strategic Partnership Initiatives to Increase Equal Access to Working Capital for Small Businesses
OnDeck partners with SoFi and LendingTree to provide more options for small businesses seeking financing
CHICAGO, May 24, 2022 /PRNewswire/ — On the bridgewhich is part of Enova, today announced a growing list of strategic partnerships, including SoFi Technologies, Inc. (“SoFi“) and LendingTree, aimed specifically at helping small businesses across the country. These partnerships combine the best digital lending products and FinTech offerings with OnDeck’s expertise in artificial intelligence (AI) and machine learning (ML), giving small businesses more options to gain wireless access. effort to working capital that supports their growth.
“For small businesses striving to grow, quick and easy access to working capital remains one of the biggest hurdles, especially for businesses that banks often overlook,” said Jim Granat, senior vice president of Enova and co-director of OnDeck. “As we continue to improve and expand our online lending offerings to support the backbone of our country – America’s small businesses – we are focused on leveraging our ML and AI and le deepening our strategic partner channels to meet small businesses where they are and drive a more effortless funding experience.”
OnDeck, America’s largest online small business lender, has led the industry in its efforts to increase access to financing for small businesses and has issued more than $14 billion in the capital. Working with its strategic partners, OnDeck makes it easier for small business owners to find and apply for the best loan options for them, whether through an online marketplace, website or app. As leaders in fintech and financial services, OnDeck, SoFi and LendingTree are well positioned to continue to grow market share and win.
“Since Enova acquired OnDeck in 2020, OnDeck Co-Head Cory Kampfer and I have been focused on providing a faster, easier experience for small businesses seeking online funding” , added Granat. “We hope to grow and continue to innovate with strategic partners to deliver instant underwriting and an effortless end-to-end customer experience – and become the benchmark for integrated financing options for partners in the future.”
For more information on OnDeck’s small business financing options, visit OnDeck.com.
OnDeck®, part of Enova International, is the recognized leader in transparent and responsible online small business lending. Founded in 2006, the company pioneered the use of data analytics and digital technology to make real-time lending decisions and quickly provide capital to small businesses online. Today, OnDeck offers a wide range of term loans and lines of credit tailored to the needs of small business owners. OnDeck has provided over $14 billion in loans to clients in 700 different sectors. The company has an A+ rating with the Better Business Bureau and is rated 4.7 stars by Trustpilot. For more information, visit www.ondeck.com.