ChamberofCommerce. com Partners with On Deck Capital to Provide Affordable Lending to Small Businesses
ChamberofCommerce. com helps over 1M local merchants get access to On Deck Capital’s short term business loans.
New York, NY (PRWEB) May 9, 2010
ChamberofCommerce. com has signed an exclusive online marketing partnership with On Deck Capital, a leading provider of alternative business loan solutions. The partnership will provide more than one million ChamberofCommerce. com small business users access to an innovative proprietary lending formula that is tailor-made for small businesses that may not qualify for a traditional bank loan due to a less-than-perfect credit score. Knowing that there is more to analyzing the health of a business than a single credit score, On Deck Capital recognizes a strong, healthy cash flow and good payment behavior as positive indicators of a small business’s health. As a result, a business that may be considered too risky by a traditional lender can still get access to a credit loan of $5,000 up to $100,000.
“Oftentimes, the one thing preventing a quality small business from growing is affordable working capital,” said David Bayer, CEO of ChamberofCommerce. com. “With On Deck Capital’s alternative lending solutions, small businesses are able to get loans to help them expand.”
On Deck Capital will contribute weekly columns on the Chamber of Commerce website, educating small businesses on all aspects of the lending process, including their patent-pending proprietary business loan financing platform and how businesses can improve their credit scores through successful repayment of their loans.
“We are looking forward to the opportunity to offer the On Deck financing platform to the millions of ChamberofCommerce. com small business members,” said Mitch Jacobs, CEO of On Deck Capital. “We know there are countless small businesses who have been prevented from borrowing because current lending technology looks only at their credit score and not the success of their business. Through the On Deck platform we hope they will access the capital needed to grow their businesses.”
For questions or inquiries about www. ChamberofCommerce. com or ChamberofCommerce. com’s Partner Program please contact Kamuti Kiteme, EVP of Sales & Marketing of ChamberofCommerce. com at 407.896.0486 or kkiteme(at)chamberofcommerce(dot)com.
For questions or inquiries about On Deck Capital please contact Gordon Brott, Marketing Director at 888-269-4246 x 114.
About ChamberofCommerce. com
ChamberofCommerce. com helps local businesses grow their business on the web and facilitates connectivity between local businesses and more than 7,000 Chambers of Commerce worldwide. ChamberofCommerce. com helps facilitate increased membership with local Chambers of Commerce, provides technology tools and education to Chambers of Commerce to help them more effectively communicate with and support their members online, and provides technology tools and education to local businesses to help them develop, manage and grow their web presence. ChamberofCommerce. com works with industry-leading business-to-business solutions providers to introduce innovative products and services to more than one million small, medium and enterprise businesses.
About On Deck Capital
On Deck Capital offers fast financing to small businesses that do not meet traditional bank lending criteria. Through the company's network, millions of small businesses can obtain loans to meet their daily operating and long term goals. The company's proprietary underwriting and loan processing platform looks deeper into the health of small businesses, focusing on the overall business performance, in addition to personal credit history. On Deck Capital is making financial history by enabling institutional funds to directly reach Main Street for the first time.
On Deck Capital is financed by some of the nation's leading venture capital firms, including Contour Venture Partners, First Round Capital, Khosla Ventures, RRE Ventures and Village Ventures. For more information, please visit: www. ondeckcapital. com.
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