NEW YORK, June 18 /PRNewswire/ -- On Deck Capital, the leading small business lending technology platform, today announced that Founder & CEO Mitch Jacobs received the Ernst & Young Entrepreneur Of The Year ® 2010 Award in the Emerging Business Category for the New York Metro area. According to Ernst & Young LLP, the award recognizes outstanding entrepreneurs who are building and leading dynamic, growing businesses. Jacobs has been recognized for his work in using technology that is fundamentally changing the way Main Street business owners access working capital to grow their small businesses.
The Ernst & Young Entrepreneur Of The Year awards honor entrepreneurs who have demonstrated exceptionality in such areas as innovation, financial performance and personal commitment to their businesses and communities.
"Ernst & Young's recognition is a testament to the transformative effect the use of technology can have on solving the national challenge of delivering capital to Main Street," said Jacobs. "I am extremely honored and humbled to be a part of this prestigious program and hope this honor brings more attention to the new approach to meeting the needs of the American growth engine: small businesses nationwide."
Through On Deck Capital's proprietary performance lending system, $70M in loans have been made to the more than 2,500 small businesses. On Deck's innovative technology platform has emerged as a viable solution to America's small business lending challenges. The On Deck system provides the infrastructure needed to evaluate businesses based on real time performance data rather than relying solely on the business owner's personal credit score.
For more information on On Deck Capital please visit www.ondeckcapital.com.
About On Deck Capital
Launched in 2006, the On Deck Capital system uses data aggregation and electronic payment technology to offer fair and fast financing to small businesses 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 Capital system also provides a critically needed efficient mechanism for institutional funds to directly reach historically fragmented and difficult to serve Main Street small businesses.
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.
About Ernst & Young's Entrepreneur Of The Year® Awards Program
Ernst & Young's Entrepreneur Of The Year® is the world's most prestigious business award for entrepreneurs. The award makes a difference through the unique way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Ernst & Young Entrepreneur Of The Year® celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 135 cities in 50 countries.
Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young LLP is a client-serving member firm of Ernst & Young Global Limited located in the U.S.
SOURCE On Deck Capital