WASHINGTON, Jan. 17, 2012 /PRNewswire-USNewswire/ -- The National Small Business Association (NSBA) this week launched a new partnership with On Deck Capital (On Deck) to provide America's small-business owners with greater access to the capital they need to grow. The new partnership is designed to provide small-business owners with a one-stop destination where they can both apply for credit and gain detailed insights into how lenders view their business.
"Small-business owners have struggled throughout the downturned economy to secure critical financing, which has had a chilling effect on broad economic recovery," stated NSBA President Todd McCracken. "This new partnership with On Deck Capital—a true innovator when it comes to small-business lending—will begin to address that need."
Traditional lenders historically have faced challenges underwriting small businesses due to the costly and time consuming process to fully analyze them. As a result, many lenders focus on the personal credit score of the business owner when making lending decisions. This approach has left many healthy small businesses unable to access capital. On Deck uses data aggregation and electronic payment technology to look beyond the personal credit score of the business owner to evaluate the true financial health of the company. It is On Deck's unique lending model and NSBA's long-time commitment to enhancing capital opportunities for small businesses that makes this partnership a perfect fit.
On Deck has created a first-of-its-kind tool for business owners that can provide powerful credit insights and deliver capital to qualified applicants in as fast as seven business days. Whether financing is an immediate need or required for future growth plans, all NSBA members can now receive free information on their lending profile and tips for increasing creditworthiness. Creating a profile with On Deck will allow NSBA members to understand what a lender sees when they view their business, as well as quickly apply for a small-business loan.
"Since its inception, On Deck has been dedicated to creating a platform for delivering capital to small businesses," stated Brad Kime, President. "We look forward to working alongside a veteran small-business advocate such as NSBA to help this critical segment of the economy."
To get started, click here. On Deck and the NSBA look forward to helping small businesses grow.
Celebrating its 75th Anniversary in 2012, NSBA continues to advocate on behalf of America's entrepreneurs. A staunchly nonpartisan organization, NSBA reaches more than 150,000 small businesses across the country and is proud to be the nation's first small-business advocacy organization. For more information, please visit www.nsba.biz.
SOURCE National Small Business Association