Thursday, August 5, 2010

On Deck Capital Launches First Free Online Credit Evaluation Tools to Empower Small Business Owners and Address Broken Lending System

NEW YORK, Aug. 5 /PRNewswire/ -- On Deck Capital (http://www.ondeckcapital.com/), the leading small business lending platform, unveiled today an industry-first set of free online finance tools that help small business owners instantly peer into their credit health and clearly show them options for obtaining a loan. A majority of all small businesses seeking capital are denied traditional bank loans due to tighter and more mechanical credit standards, and millions of small business owners are left in the dark about what capital options are available to them. While small businesses account for 65% of all employment in the nation, the system to bring capital to Main Street remains flawed. Enter On Deck who looks beyond the personal credit score of the business owner.


"Despite all the talk in Washington and $30B to be made available to small businesses, the money won't make it to Main Street," said Mitch Jacobs, founder and chief executive officer, On Deck Capital. "It's dumping money into the same broken system. We are solving the problem through our lending system that allows capital to reach millions of credit-worthy businesses."


On Deck's platform helps time-strapped business owners assess their business and plan for their capital needs without ever having to set foot inside a bank or formally apply for a credit product. By easily registering and entering key information into On Deck's secure website (http://www.ondeckcapital.com/), business owners establish an On Deck profile that allows them to access the following powerful tools:


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