NEW YORK, Sept. 12, 2012 /PRNewswire/ — On Deck (www.ondeckcapital.com), the technology-powered Main Street lender, announced today that it has been named to the prestigious 2012 Inc. 500 list of America’s fastest growing companies.
On Deck has fundamentally transformed small business lending by using data aggregation and electronic payment technology to instantly evaluate the financial health of Main Street businesses. The company’s proprietary platform looks deeper into the health of small businesses, focusing on the overall business performance, rather than the owner’s personal credit history. On Deck offers loans from $5,000 to $150,000 in as fast as 2 business days to restaurants, retailers, auto repair shops and other local service providers. Demand for financing through the On Deck platform has surged, with more than $100 million of loan volume delivered in the last 10 months. To date, more than $250 Million has been deployed to small businesses nationwide through the On Deck platform.
“We are honored to be included on this prestigious list and ranked among the most innovative and forward thinking companies shaping our nation today,” said Noah Breslow, chief executive officer, On Deck. “This announcement further validates our industry-leading solution for delivering capital to small businesses – the growth engine of our economy.”
Published annually, the Inc. 500 is an exclusive list of the nation’s fastest-growing private companies and represents the most comprehensive look at the most important segment of the economy—America’s independent entrepreneurs. In the company’s first year of eligibility, On Deck ranked #302 overall and #17 in the financial services category with a three-year growth rate of 1,233 percent. Companies such as Microsoft, Zappos, Intuit, Jamba Juice, Zipcar, Clif Bar, Vizio, Oracle, and many other well-known names gained early exposure as members of the Inc. 500.
To make the cut, companies had to have achieved a staggering minimum of 770% in sales growth. The Inc. 500’s aggregate revenue is $15.7 billion, with a median three-year growth of 1,431 percent. The companies on this year’s Inc. 500 employ more than 48,000 people and generated over 40,000 jobs in the past three years. Complete results of the Inc. 500|5000 can be found at www.inc.com/500.
“Now, more than ever, we depend on Inc. 500/5000 companies to spur innovation, provide jobs, and drive the economy forward. Growth companies, not large corporations, are where the action is,” says Inc. magazine Editor Eric Schurenberg.
To learn more about On Deck, please visit www.ondeckcapital.com.
About On Deck
Launched in 2007, On Deck Capital uses data aggregation and electronic payment technology to evaluate the financial health of small businesses and to efficiently deliver capital to a market underserved by traditional bank loans. Through the On Deck Capital platform, millions of small businesses can obtain affordable loans to meet their daily operating and long term goals. The company’s proprietary platform looks deeper into the health of small businesses, focusing on the overall business performance, rather than the owner’s personal credit history. The On Deck system also provides a critically needed mechanism for commercial institutions to efficiently reach and serve the historically underserved Main Street small business market.
On Deck Capital is financed by some of the nation’s leading venture capital firms, including SAP Ventures, Contour Venture Partners, First Round Capital, Khosla Ventures, RRE Ventures and Village Ventures. For more information, please visit: www.ondeckcapital.com.
Founded in 1979 and acquired in 2005 by Mansueto Ventures, Inc. is the only major brand dedicated exclusively to owners and managers of growing private companies, with the aim to deliver real solutions for today’s innovative company builders. Total monthly audience reach for the brand has grown significantly from 2,000,000 in 2010 to over 6,000,000 today. For more information, visit www.inc.com.
SOURCE On Deck