Welcome!

SAP HANA Cloud Authors: Pat Romanski, Elizabeth White, Peter Silva, Dana Gardner, Liz McMillan

News Feed Item

On Deck Launches New Regional Hub in Denver, Triggering Job Creation

Colorado Governor Hickenlooper and Denver Mayor Hancock Welcome Tech-Powered Main Street Lender's Expansion

NEW YORK, Feb. 26, 2013 /PRNewswire/ -- On Deck (www.ondeckcapital.com), the technology-powered Main Street lender, announced today the opening of a new Western regional office in Denver, Colorado. The Denver office, which opened with 16 employees, will expand to over 200 professionals in the next two years across sales, operations and technology functions. Colorado Governor John Hickenlooper and Denver Mayor Michael B. Hancock presided at an inaugural ceremony for local small business owners, business partners and government officials.

(Logo: http://photos.prnewswire.com/prnh/20130213/LA59048LOGO)

Continuing in the tradition of the JumpStart Biz Plan Award -- led by the Denver Office of Economic Development -- On Deck launched Colorado: Let's Grow Together, a contest sponsored by On Deck to foster growth among Colorado small businesses. Colorado small business owners may apply through On Deck's Facebook page by explaining how an extra $10,000 would help their business grow. One Colorado-based small business owner will be awarded $10,000; second place $5,000; and the third place winner will earn a counseling session from the staff at On Deck.

Denver has a strong, technology-focused community that was a natural fit to support the New York-based company's rapid growth. As the established innovator in small business lending technology, On Deck has already deployed millions of dollars in capital to local Colorado restaurants, retailers, health care professionals and other service providers. The City of Denver and the State of Colorado also provided strategic input and training subsidization programs that enabled On Deck to efficiently navigate the local area and ramp up its operations.

"Having a Western regional hub allows us to better reach and serve our surging customer demand in the Mountain and Pacific Times zones, and the City of Denver is a great fit for our needs," said Noah Breslow, chief executive officer, On Deck. "We were also looking for the right combination of a growing, educated workforce and a large concentration of high-tech workers that would provide an employee pipeline for On Deck to continue its rapid growth. Denver was the clear winner for us."   

Breslow added, "We value partners with the same level of commitment to small businesses that we have, and The City of Denver and the State of Colorado demonstrated their support for On Deck's mission by offering program benefits that will enable us to scale the company in an accelerated manner."

"On Deck's decision to expand in Colorado is reflective of the state's pro-business climate and high quality workforce," said Governor Hickenlooper. "The company has already boosted many small businesses in Colorado with capital, and we look forward to their continued support of our innovative business climate. Companies like On Deck are a powerful engine for our economy, and we look forward to a mutually beneficial relationship between them, the state, and their customers."

"Denver is proud to welcome On Deck to the Mile High City. This announcement clearly reaffirms Denver's position as a leading city nationally and internationally for business expansion and success," said Mayor Hancock. "On Deck's move into Denver further enhances our strong financial services sector while providing additional tools to spur small business growth throughout our city, region and state."

Denver was attractive to On Deck across a number of key metrics*, including:

  • Colorado has the nation's 3rd highest concentration of high-tech workers
  • Denver ranked 4th among the 50 largest metro areas for banking and finance employment concentration
  • There are approximately 145,000 students enrolled in 4 year educational programs throughout the region
  • Denver is #1 among large U.S. metro areas for total population gain in the 25-34 age group

Through On Deck's innovative technology platform, the company recently hit another major milestone of deploying $400 million to small businesses nationwide. On Deck's proven proprietary system is a transformative solution to the lending challenges of America's small and medium sized businesses and has become the catalyst for growth for thousands of entrepreneurs. To date, the company counts more than 160 employees, spanning several offices nationwide.  The company also recently opened regional offices in Atlanta, Sarasota, Chicago and Los Angeles and plans to move into larger office spaces for its New York City and Arlington, VA offices.

To enter Colorado: Let's Grow Together, please visit On Deck's Facebook page at https://www.facebook.com/OnDeckCapital.

To learn more about On Deck, please visit www.ondeckcapital.com.  

About On Deck

Launched in 2007, On Deck uses data aggregation and electronic payment technology to evaluate the financial health of small and medium sized businesses and efficiently deliver capital to a market underserved by banks.  Through the On Deck platform, millions of small businesses can obtain affordable loans with a fraction of the time and effort that it takes through traditional channels.  The company's proprietary credit models look deeper into the health of businesses, focusing on overall business performance, rather than the owner's personal credit history.  The On Deck system also provides a critically needed mechanism for financial institutions and other business service providers to efficiently reach the Main Street small business market.

On Deck is financed by some of the nation's leading venture capital firms, including SAP Ventures, Contour Venture Partners, First Round Capital, Khosla Ventures, RRE Ventures, Village Ventures and Institutional Venture Partners. For more information, please visit: www.ondeckcapital.com. For more information, follow On Deck capital on Twitter @OnDeckCapital

*Data points provided by The Metro Denver Economic Development Corporation.

Media Contact:
Jonathan Cutler/Tracy Rubin
JCUTLER media group
[email protected]
[email protected] 

SOURCE On Deck

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
In today's uber-connected, consumer-centric, cloud-enabled, insights-driven, multi-device, global world, the focus of solutions has shifted from the product that is sold to the person who is buying the product or service. Enterprises have rebranded their business around the consumers of their products. The buyer is the person and the focus is not on the offering. The person is connected through multiple devices, wearables, at home, on the road, and in multiple locations, sometimes simultaneously...
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Akana has announced the availability of version 8 of its API Management solution. The Akana Platform provides an end-to-end API Management solution for designing, implementing, securing, managing, monitoring, and publishing APIs. It is available as a SaaS platform, on-premises, and as a hybrid deployment. Version 8 introduces a lot of new functionality, all aimed at offering customers the richest API Management capabilities in a way that is easier than ever for API and app developers to use.
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.