OnDeck Canada Announces Strategic Partnership with Integrated Communications Firm, CASACOM
(Toronto, Canada) October 31, 2016 – OnDeck, a leader in online small business lending, has enlisted national integrated communications and public relations firm, CASACOM to support their Canadian communications initiatives, which will be geared toward educating small business owners on additional lending options.
CASACOM’s Toronto office team will work with OnDeck to roll out a series of communications programs including strategic media relations campaigns, speaking engagements and events, local business outreach, and other exciting initiatives designed to empower and educate small business owners across the country.
“We are thrilled to be partnering with an innovative company like OnDeck to help them reach the small business owners who have an opportunity to benefit greatly from their personalized, customized approach to online lending,” said Suzanne Rappaport, Vice President Strategy, CASACOM Toronto. “As a small business that’s experienced significant growth ourselves, we feel as though we understand and can relate to OnDeck’s target audience—positioning us to disseminate their brand story in a meaningful way.”
OnDeck has been supporting and empowering small businesses in the United States since 2007 via reliable, short-term online lending solutions. In 2014, they extended their offering to the approximately 1.1 million small businesses in Canada, and last year they increased that offering, providing flexible loans up to $250,000. Today, the brand is on a mission to educate and grow small businesses in Canada by enabling business owners to have quicker access to funds, right when they need them.
“Many small businesses rely on borrowed capital to help them fuel growth and fund working capital, but less than half actually get it,” said Gary Fearnall, Country Manager, OnDeck Canada. “The traditional loan approval process may be too slow to meet the needs of a business trying to respond to an opportunity quickly. Our goal is to empower small businesses and arm them with both the information and the tools they need to recognize, react and grow.”
Since OnDeck entered Canada in 2014, the company has delivered more than CAD$50 million in financing to Canadian small businesses. OnDeck’s term loans enable eligible Canadian small businesses to access capital from CAD$5,000 to CAD$250,000 (up from CAD$150,000) with loan repayment terms of 6 to 24 months. With a simplified application process – hours instead of weeks – and deposited funds in a business’ bank account within 24 to 48 hours, OnDeck is specifically designed to meet the unique needs of small businesses.
Also unique is the brand’s proprietary technology and small business credit scoring system, the OnDeck Score®, which efficiently evaluates a business’ creditworthiness allowing it to make targeted lending decisions in real time.
“Our scoring system evaluates businesses based on their actual performance, not just personal credit, allowing small business owners to keep their personal finances separate and establish boundaries while building a strong credit profile, said Fearnall. “Building a good credit profile and becoming a savvier borrower will help business owners be prepared when growth opportunities come knocking.”
With Small Business Month in full swing, CASACOM is already diligently working alongside OnDeck to contribute to the conversation around small business growth and success in Canada.
To learn more about OnDeck and its lending options for Canadian small businesses, visit www.ondeck.com/canada