“An Insider’s View: Securing Capital to Grow Your Business” Educational Workshop Brings OnDeck’s Business Financing Resources to SCORE’s Network of Small Business Owners
Interactive Fundability Quiz Helps Small Business Owners Pinpoint Viable Lending Options”
NEW YORK, April 5, 2016 — To provide educational resources to America’s small business owners about the myriad financing options available to them, OnDeck® (NYSE: ONDK), the leader in online lending for small business, has teamed up with SCORE — introducing a small business financing workshop to SCORE’s volunteer mentors in more than 300 chapters across the country.
Developed by OnDeck’s Head of Small Business Education Ty Kiisel working with a team of SCORE volunteer small business mentors, the workshop, An Insider’s View: Securing Capital to Grow Your Business, helps SCORE clients survey the non-traditional financing options available to them, including: non-profit lending, crowdfunding, invoice financing, online business loans, and loan matching sites. Attendees learn how different types of financing work, who provides them, which financing options make sense for which business needs, how to apply, and what to expect throughout the application process.
OnDeck and SCORE first conducted the workshop and corresponding webinar last year. In 2015, Ty Kiisel led seminars in eight SCORE chapters and hosted a webinar with hundreds of attendees. In order to help SCORE chapters implement this workshop in their communities and scale the program across the country, OnDeck has created a workshop-in-a-box kit, enabling every SCORE chapter to offer their own seminars to local small businesses.
“Small business owners and aspiring entrepreneurs will walk away from these workshops with a strong grasp of their lending options, empowered to make informed financing decisions to fuel their business’s growth,” said Noah Breslow, CEO of OnDeck. “Our partnership with SCORE is a powerful way for us to support our nation’s small businesses.”
Workshop participants will also be guided through OnDeck and SCORE’s interactive Business Fundability Quiz. The quiz—used by over 3,000 entrepreneurs to date—helps small business owners assess their current financial standing and evaluate what types of financing they may qualify for. Workshop facilitators will help attendees find ways to improve their profile and increase their odds of successfully funding their business needs. SCORE will also offer participants free one-on-one mentoring to talk through their individual business aspirations and chart a customized pathway to achieve those goals.
“At SCORE, we regularly meet with small business owners who are unsure of what financing options are available to them,” said David R. Bobbitt, President of the SCORE Foundation and Vice President of Development at the SCORE Association. “With these resources now available to both our mentors and chapters nationwide, we believe more small businesses will consider the full spectrum of borrowing options. Informed small business owners can compare options for themselves and are more likely to locate the funds they need to put their goals into action.”
Are you looking to learn the ins and outs of small business lending options? These resources can help you get started:
- Visit OnDeck and SCORE’s Financing/Loans Center of Excellence: Check out tips and resources for evaluating your small business loan options, applying for small business grants, investigating the process for commercial lending, and more at www.score.org or tune in to the An Insider’s View: Securing Capital to Grow Your Business webinar online.
- Join the Discussion on Twitter: Tune in to OnDeck and SCORE’s upcoming Twitter Q&A on April 20, 2016 at 1 p.m. ET, by following the hashtag #AskTy for small business lending insights from industry experts, including OnDeck’s Ty Kiisel and SCORE’s David Bobbitt.
- Learn More About the World of Online Lending: For more information about your lending options, visit BusinessLoans.com, OnDeck’s educational website.
OnDeck’s partnership with SCORE is part of the company’s commitment to financial literacy, both during the celebration of National Financial Literacy Month in April and year round.
Since 1964, SCORE has helped more than 10 million aspiring entrepreneurs. Each year, SCORE’s 10,000 volunteer business experts provide free and low-cost small business mentoring, workshops and education to 500,000+ clients in more than 300 chapters. In 2014, SCORE volunteers provided 1.2+ million hours to help create over 45,000 jobs and 55,000 small businesses.
For more information about starting or operating a small business, call 1-800-634-0245 for the SCORE chapter nearest you. Visit SCORE at www.score.org. Connect with SCORE at www.facebook.com/SCOREMentors and www.twitter.com/SCOREMentors.
OnDeck (NYSE: ONDK) is the leader in online small business lending. Since 2007, the company has powered Main Street’s growth through advanced lending technology and a constant dedication to customer service. OnDeck’s proprietary credit scoring system – the OnDeck Score® – leverages advanced analytics, enabling OnDeck to make real-time lending decisions and deliver capital to small businesses in as little as 24 hours. OnDeck offers business owners a complete financing solution, including the online lending industry’s widest range of term loans and lines of credit. To date, the company has deployed over $4 billion to more than 45,000 customers in 700 different industries across the United States, Canada and Australia. OnDeck has an A+ rating with the Better Business Bureau and operates the educational small business financing website www.businessloans.com. For more information, please visit www.ondeck.com.