OnDeck Receives $130M in Debt

OnDeck, a NYC-based company that leverages a technology platform to act as a Main Street lender, received funding commitments for credit facilities totaling over $130m.

Backers included Deutsche Bank, Key Bank and Square 1 Bank.

The company intends to use the proceeds to deploy more funding and develop new products.

Launched in 2007 and led by Noah Breslow, chief executive officer, OnDeck uses data aggregation and electronic payment technology to evaluate the financial health and creditworthiness of small and medium sized businesses and deliver capital to a market usually underserved by banks.
To date, the company has deployed over $600 million in capital to tens of thousands of businesses nationwide, across 700 different industries.



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