Financing With On Deck Capital
March 9, 2009 by Stephen Kersey
Filed under Business
If you have been in business for a year or so and now need more capital, you may think it’s next to impossible to get money right now. If you are looking for financing alternatives for your business, consider On Deck Capital. This online lender is interesting in that they look at your cash flow, not your credit score and tax returns, when making a decision whether to lend money.
Image: sxc.hu
You may have read about this small business financing company in Business Week or other publications. It’s definitely worth looking into–especially during these rough economic times.
They believe cash flow is a great indicator of the performance of your business. Therefore, they can help you qualify for loans up to $100,000 if you have been in business over a year and process at least $3,000 in credit card transactions each month. If your company doesn’t operate with credit cards, then you will need to have been in business for two years and have an average bank account balance of $3,000.
On Deck Capital also collects small daily debits instead of larger monthly installments, which is oftentimes last painful for many businesses.
Check out their website at ondeckcapital.com for more information or to apply.
Stephen,
Hi – nice to e-meet you and thanks for the coverage. I also wanted to share that our CEO has been a small business owner 3 times, so the executive team gets what our customers are going through. If there are small business owners out there on main street, with a diversified customer base and lots of small transactions who need loans, don’t be afraid to contact us.
Thanks again for the blog – we’re trying to do our bit to help.