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Leading Tech Powered Main Street Lender Recognized as a Hero of the U.S. Economy
NEW YORK, Nov. 1, 2013 /PRNewswire/ -- OnDeck (www.ondeck.com), the technology-powered Main Street lender, announced today that it has been honored by the 2013 Inc. Hire Power Awards. The Hire Power Awards recognize the top job creating private companies that are helping to rebuild the economy.
To meet the rapidly increasing market demand for working capital, OnDeck has grown its workforce by over 60% this year, and over the past three years has generated 197 jobs. OnDeck ranked #11 in the financial services category, #7 in the state of NY, and #18 in percentage of growth by company size. The company was also named to the Inc. 500 | 5000 list of fastest-growing private companies in America the last two years in a row.
"We are committed to fostering job creation both internally through our own expansion, and externally by connecting small businesses nationwide to the capital they need to grow," said Noah Breslow, chief executive officer, OnDeck. "We're honored to be recognized by Inc. for our job creation efforts and look forward to hiring more talented employees, and helping America's small businesses thrive."
OnDeck's industry leading technology is transforming the small business borrowing process to make it simple, fast and friction-free. Using big data, OnDeck's proprietary technology platform harnesses readily available digital information to determine the creditworthiness of small businesses based on their business financials. To date, OnDeck has delivered over $700M to tens of thousands of businesses nationwide across 700 different industry verticals.
Honorees of Inc. magazine's Hire Power Awards created almost 70,000 jobs between January 1, 2012 and June 30, 2013 and are found across the country in 25 categories that include health, financial services, software, human resources and IT services.
"For the second year in a row, we are pleased to recognize the employers who are putting Americans back to work for a second time," says Eric Schurenberg, editor-in-chief, Inc. "The Hire Power Awards are the only awards that single out job creators. We think it's fitting to pay tribute to company founders not just for their business prowess but also for their immense contribution to the welfare of U.S. workers and the vitality of the U.S. economy."
The Hire Power Awards shine a national spotlight on the crucial role private businesses play in creating jobs and will appear in Inc.'s November issue. To view a complete list of the 2013 Hire Power Awards, please visit www.inc.com/hire-power/list. To learn more about OnDeck, please visit: www.ondeck.com.
Launched in 2007, OnDeck uses data aggregation and electronic payment technology to evaluate the financial health of small and medium sized businesses and efficiently deliver capital to a market underserved by banks. Through the OnDeck platform, millions of small businesses can obtain affordable loans with a fraction of the time and effort that it takes through traditional channels. The company's proprietary credit models look deeper into the health of businesses, focusing on overall business performance, rather than the owner's personal credit history. The OnDeck system also provides a critically needed mechanism for financial institutions and other business service providers to efficiently reach the Main Street small business market.
OnDeck has deployed over $700 million in capital to tens of thousands of businesses across 700 different industries. The company is growing at greater than 100 percent annually, and was recently named to Forbes' 100 Most Promising Companies in America list, the Inc. 500/5000 for a second year in a row, and the Crain's New York Business Fast50. The company also has earned an A+ rating with the Better Business Bureau. OnDeck is financed by some of the nation's leading venture capital firms, including Google Ventures, SAP Ventures, RRE Ventures and Institutional Venture Partners.
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.
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