What's Behind the Alternative Lending Boom?

The video discusses On Deck's innovative approach to lending, focusing on the health of small businesses rather than personal credit scores. It highlights the $60 billion lending gap for Main Street businesses and explains the marketplace model that pools funding for these businesses. The On Deck score rates businesses instead of owners, and distribution is achieved through independent sales organizations. The application process is quick, and the future of financial services is expected to offer more consumer-friendly products.

What challenges do small business owners face in obtaining loans from traditional financial institutions?

Evaluate responses using AI:

OFF

What is the significance of the OnDeck score in the context of business lending?

Evaluate responses using AI:

OFF