Business Strategy

OnDeck Announces New Strategic Partnership Initiatives to Increase Equal Access to Working Capital for Small Businesses

OnDeck Announces New Strategic
OnDeck announced a growing list of strategic partnerships, including SoFi Technologies, Inc and LendingTree. The partnership aims at helping small businesses around the country. These partnerships combine best-in-class digital lending products and FinTech offerings with OnDeck's Artificial Intelligence (AI) and Machine Learning (ML) expertise, providing small businesses with more options for gaining easy access to growth-supporting working capital.

With the help of its strategic partners, OnDeck is making it easier for small business owners to find and apply for the best loan options for them, whether through an online marketplace, website, or mobile application. As industry leaders in FinTech and financial services, OnDeck, SoFi, and LendingTree are well-positioned to expand their market share and achieve success.

 "Since Enova acquired OnDeck in 2020, OnDeck Co-Head Cory Kampfer and I have been focused on delivering a faster and easier experience for small businesses seeking financing online. We hope to develop and continue to innovate with strategic partners to deliver instant underwriting and an effortless customer experience from end to end – and to become the go-to-choice on embedded financing options for partners in the future."

-Jim Granat, senior vice president of Enova and co-head of OnDeck

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