Today is an exciting day for the On Deck Team as we introduce On Deck Express – yet another groundbreaking innovation in small business lending. On Deck Express provides small businesses with access to up to $25,000 in capital in as fast as one business day and with a simple process that can be done entirely online.
On Deck Express addresses what the millions of small businesses we are dedicated to serving require — fast access to capital when taking advantage of opportunities and responding to everyday obstacles.
Our On Deck Express application and approval process is completely automated and can be completed in minutes. And the process gives the business owner control over choosing available terms and loan options that best meet their needs. From there, On Deck’s quick funding enables a business owner who is approved on a Monday morning to have funds deposited in their account on Tuesday.
This is a huge advancement in small business lending – a process that his historically taken weeks (if not months) can now be completed in as fast as 24 hours. We’ve been testing the system over the past few weeks and business owners are absolutely amazed by the speed and simplicity of On Deck Express. In fact yesterday, we delivered $20,000 to an Air Conditioning contractor who came to our website for the first time ever the day before – he couldn’t believe how fast On Deck could meet his needs.
We look forward to watching On Deck Express grow and meet the needs of small businesses – and rest assured, we have many more exciting developments in the works!