Small-Business Lending Success StoryFebruary 15, 2012
NSBA is pleased to report that in less than 30 days, our partnership with On Deck Capital is already producing tangible results for small businesses. The NSBA-On Deck partnership is predicated on providing NSBA members greater access to capital as well as important insights on their creditworthiness. Long-time NSBA member Don Pelham was recently was approved for a loan through the partnership. Here is his story.
On Deck recently spoke with Don, who is the founder of DPA Branding, a brand development agency specializing in digital solutions like online reputation management and turn-key social media for small- to medium-size businesses.
After receiving NSBA’s electronic The Weekly Advocate, newsletter announcing the partnership with On Deck, Don decided to reach out in order to learn more about his financing options. Don had been in the digital branding business for over eight years, and was looking for some additional working capital in order to accommodate his growing customer base.
“Our small-business division tripled our revenue in 2011, and we really needed a bigger line of credit to execute projects already in the pipeline as well as our forecasted growth,” Don explained. “In our industry, the lag time between delivering client projects and the billing cycle can often create cash flow issues. With our On Deck loan, we were able to effectively bridge the gap. The On Deck process was easy, simple to understand and required very little documentation compared to other sources we were considering.”
NSBA and On Deck wish Don and the DPA Branding Team the best of luck with their increased client base and look forward to their continued success. For more information about DPA Branding, click here or visit Facebook.
If you are interested in learning more about On Deck’s small-business loans or receiving detailed information on your lending profile and tips for increasing creditworthiness, please click here.