INDIANAPOLIS--(BUSINESS WIRE)--Angie's List (Nasdaq:ANGI), a local services marketplace and leading provider of consumer reviews, today announced plans to team with On Deck Capital, Inc. (NYSE: ONDK), a leading platform for small business loans, to offer financing to its service providers.
As part of this agreement, service providers on Angie’s List will have access to OnDeck’s loans for up to $250,000. Qualifying service providers can use their loans to invest in their business’ growth, manage cash flow or finance their Angie’s List subscriptions.
"We are focused on providing convenience and value to service providers as they grow their businesses and we are excited to work with OnDeck to help make that happen,” said Tom Fox, Angie’s List chief financial officer. “As a result of this relationship, service providers will have access to a leading small business lender and seamless customer service experience.”
“OnDeck and Angie’s List share a commitment to small business,” said Jerome Hershey, vice president of business development, OnDeck. “We are thrilled to partner with Angie’s List to provide their tens of thousands of eligible service providers with an opportunity to access critical growth capital.”
Service providers on Angie’s List who apply to OnDeck will have access to business term loans up to $250,000 and business lines of credit up to $20,000, and can start applying for OnDeck financing today. Interested parties should contact their Angie’s List advertising account manager.
About Angie's List
Angie's List helps facilitate happy transactions between more than three million consumers nationwide and its collection of highly-rated service providers in 720 categories of service, ranging from home improvement to health care. Built on a foundation of authentic reviews of local service, Angie's List connects consumers directly to its online marketplace of services from member-reviewed providers, and offers unique tools and support designed to improve the local service experience for both consumers and service professionals.
OnDeck (NYSE: ONDK), a leading platform for small business loans, is committed to increasing Main Street’s access to capital. OnDeck uses advanced lending technology and analytics to assess creditworthiness based on actual operating performance and not solely on personal credit. The OnDeck Score®, the company’s proprietary small business credit scoring system, evaluates thousands of data points to deliver a credit decision rapidly and accurately. Small businesses can apply for a line of credit or term loan online in minutes, get a decision immediately and receive funds in as fast as the same day. OnDeck also partners with small business service providers, enabling them to connect their customers to OnDeck financing. OnDeck's diversified loan funding strategy enables the company to fund small business loans from various credit facilities, securitization and the OnDeck Marketplace®, a platform that enables institutional investors to purchase small business loans originated by OnDeck.
Since 2007, OnDeck has deployed more than $2 billion to more than 700 different industries in all 50 U.S. states, and also makes small business loans in Canada. The company has an A+ rating with the Better Business Bureau and operates the website BusinessLoans.com which provides credit education and information about small business financing. On December 17, 2014, OnDeck started trading on the New York Stock Exchange under the ticker ONDK. For more information, please visit www.ondeck.com and follow OnDeck on Twitter @OnDeckCapital.