February 2, 2010
by Kyle Stock
…Since it made its first loans in 2007, On Deck Capital Inc., a New York-based asset-based lender, has handed out $50 million to some 2,000 businesses, few of which had revenue of more than $3 million a year.
“The financial system has been focused more or less uniformly on the credit bureau, but had no system to take a broader look at the performance of a Main Street small business,” said On Deck founder and CEO Mitch Jacobs. “Now, we’re counting on these businesses to push our economy forward and this century-old problem is in the spotlight…”