Fintech lender OnDeck, Inc. is joining forces with Utah-based Celtic Bank to provide small business relief loans through the Paycheck Protection Program.
The partnership pairs one of the largest online small business lenders in the U.S. with one of the leading banks in the Small Business Administration’s 7(a) loan program, OnDeck said in a statement Monday. The New York-based online lender has also applied to the SBA to offer the federally-guaranteed loans directly.
A spokesman for the company said OnDeck expects a decision soon on its application.
“We plan to carefully scale our application intake to ensure an outstanding customer...