Sep 27, 2016, 07:01 ET
NEW YORK, Sept. 27, 2016 /PRNewswire/ -- OnDeck® (NYSE: ONDK), the leader in online lending for small business, announced today the launch of an expanded national marketing campaign featuring real estate entrepreneur and Shark Tank judge Barbara Corcoran. Beginning this month, Ms. Corcoran will be featured in television and radio commercials and customer communications emphasizing OnDeck's unique ability to provide small businesses across the United States access to much-needed financing. She will also serve as a contributing editor to the OnDeck blog, offering advice to OnDeck's customers and small business readers.
To view one of the new national television commercials featuring Barbara Corcoran for OnDeck, click here.
Ms. Corcoran started her career as an entrepreneur when, at the age of 22, she decided she wanted to be her own boss, borrowed $1,000 and launched a real-estate company in New York City. She would later sell The Corcoran Group for $66 million. The relentlessly energetic Ms. Corcoran subsequently launched a second career helping promising entrepreneurs realize their dreams on ABC's Shark Tank, investing her own money in dozens of small businesses to date.
The expanded relationship with OnDeck builds off of the success of the online lender's Barbara Corcoran Seal of Approval Contest, held for the first time last year. Three winners selected from nearly 600 submissions received personalized coaching from Barbara in OnDeck's New York offices to formulate a game plan for their businesses, with each small business receiving a $10,000 prize from OnDeck to kick start their vision into motion. The second Barbara Corcoran Seal of Approval Contest is expected to open for entries next month.
"All small business owners have grit and perseverance. That's a given. What they sometimes lack is access to capital. That's where OnDeck becomes so valuable. OnDeck has the services and solutions that entrepreneurs need to meet daily challenges and grow their business," said Ms. Corcoran. "I'm delighted to communicate the good news to small businesses that, thanks to OnDeck, financing their dreams is easier and faster than ever."
The launch of the Barbara Corcoran marketing campaign follows a busy summer for OnDeck, which unveiled a new brand identity with the enhanced www.ondeck.com, featuring a deep focus on personalized customer service for small businesses seeking financing. According to Andrea Gellert, chief marketing officer of OnDeck, the decision to collaborate with Ms. Corcoran was driven by her passionate interest in and respect for what it takes to be a successful small business owner.
"Lack of financing should never be a barrier for determined, responsible small business owners seeking to achieve their American Dream," said Gellert. "Through our campaign with Barbara Corcoran, we hope to further spread awareness about how OnDeck's leading solutions and exceptional service are helping to fuel the growth of our nation's entrepreneurs."
The U.S. Small Business Administration estimates that 28 million small businesses in America account for 54 percent of all U.S. sales. Furthermore, they provide 55 percent of all jobs and have created 66 percent of all net new jobs since the 1970s. Yet small business owners seeking capital have been vastly underserved by traditional lenders.
A recent study by economic consulting firm Analysis Group and commissioned by OnDeck, measured the impact of the first $3 billion lent by OnDeck to small businesses and found that these loans have powered $11 billion in business activity and created 74,000 jobs nationwide. Since then, OnDeck's innovative data-driven model has substantially increased the flow of capital to Main Street year-over-year, expanding growth opportunities for thousands of small businesses. To date, OnDeck has delivered over $5 billion in small business loans across approximately 700 industries in all 50 U.S. states.
OnDeck (NYSE: ONDK) is the leader in online small business lending. Since 2007, the company has powered Main Street's growth through advanced lending technology and a constant dedication to customer service. OnDeck's proprietary credit scoring system – the OnDeck Score® – leverages advanced analytics, enabling OnDeck to make real-time lending decisions and deliver capital to small businesses in as little as 24 hours. OnDeck offers business owners a complete financing solution, including the online lending industry's widest range of term loans and lines of credit. To date, the company has deployed over $5 billion to more than 50,000 customers in 700 different industries across the United States, Canada and Australia. OnDeck has an A+ rating with the Better Business Bureau and operates the educational small business financing website BusinessLoans.com. For more information, please visit www.ondeck.com.
Note: Barbara Corcoran is being compensated for this endorsement.
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