This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

IPO May Be Around the Corner for On Deck Capital

The investment by IVP is an encouraging sign. Small businesses looking for financing have not had an easy time of it. And while the credit markets seem to be easing, industry players say that's only for the most lendable companies.

Numerous so-called alternative lenders like On Deck Capital have seized upon an opportunity to provide financing -- through a more streamlined, tech-savvy process -- to Main Street businesses that might not be approved by more traditional institutions.

On Deck Capital has deployed $400 million directly to thousands of small- and medium-sized businesses in the U.S., the six-year-old company says.

There's no doubt that businesses are cautious, Breslow says. "At the same time where they have opportunity to invest in their business and get a return, they're taking advantage of it," he says.

Banks are still very conservative when it comes to small-business lending, approving loans to only the top 5% to 10% of businesses.

"Clearly, there's a lot more fundable small businesses out there besides that," Breslow says.

The latest funding round follows a busy year of record performance for On Deck Capital.

In 2012, the lender doubled its business, raised nearly $100 million in credit facility commitments jointly led by Goldman Sachs (GS - Get Report) and Fortress Investment Group (FIG - Get Report), tripled the number of distribution partners to 1,500 nationwide, expanded its bank partnerships and increased its industry coverage to over 700 vertical markets, serving essentially all types of Main Street businesses, it noted.

On Deck also recently opened regional offices in Atlanta, Sarasota, Chicago and Los Angeles. This year it will open an office in Denver, and move into larger office spaces for its New York City headquarters and office in Arlington, Va.

-- Written by Laurie Kulikowski in New York.

To contact Laurie Kulikowski, send an email to: Laurie.Kulikowski@thestreet.com.

>To submit a news tip, email: tips@thestreet.com.

RELATED STORIES:



Follow TheStreet on Twitter and become a fan on Facebook.
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
ZNGA $2.42 -0.41%
FIG $6.25 5.57%
GS $189.21 2.61%
AAPL $112.92 2.94%
FB $89.73 2.91%

Markets

Chart of I:DJI
DOW 16,654.77 +369.26 2.27%
S&P 500 1,987.66 +47.15 2.43%
NASDAQ 4,812.7080 +115.1720 2.45%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs