Daily News: September 5, 2017

OnDeck Marks 10th Anniversary, Extends Agreement with Chase

Since launching in August 2007, online lender OnDeck has provided more than $7 billion in capital to more than 70,000 customers in 700 different industries across the U.S., Canada and Australia.

OnDeck and JPMorgan Chase recently announced a landmark new contract extending their collaboration on Chase’s digital small business lending solution, Chase Business Quick Capital, for up to four years. The multi-year agreement enables Chase to develop and deliver increased digital functionality as it delivers lending solutions to its small business banking customers.

“OnDeck started lending online to small businesses 10 years ago with a customer-first philosophy and a relentless commitment to providing capital online with speed, efficiency and top-quality service to America’s small business owners,” said Noah Breslow, CEO of OnDeck and the company’s first employee. “This is still the hallmark of our business today as we celebrate a decade of innovation on behalf of small business owners, truly the lifeblood of our economy.”

In the retail industry alone, OnDeck has lent more than $1 billion online.