Online small business lender OnDeck Capital plans to launch an equipment finance loan business in early 2019, applying its algorithmic know-how to the $35 billion market.
OnDeck would become one of the first financial technology companies to enter the market, and the move could help it differentiate its business from a growing pool of fintech competitors in online small business lending.
OnDeck uses an algorithmic underwriting process to offer loans to small businesses that are often neglected by traditional financial institutions. The technology hasn’t penetrated the equipment finance market in the same way, OnDeck CEO Noah Breslow said in a ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.