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OnDeck looks to boost broker partnerships

by Reporter3 minute read
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The small business loan specialist is looking to increase its broker footprint by seeking new partnerships and expanding its BDM team.

OnDeck’s head of sales, Michael Burke, has revealed that it is “seeking alliances” with commercial loan brokers, mortgage brokers and other business finance brokers to offer unsecured small business loans via their broker platforms.

He said that the move came off the back of the lender’s “successful partnership with MYOB” [small business specialist, Mind Your Own Business].

“There's great synergy between our two companies in terms of innovation, technology and customer experience,” Mr Burke said.

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“We would like to continue to provide an online lending solution to small business owners by expanding our industry relationships.”

As well as this, the lender revealed that it was seeking to build on its recently expanded BDM team and add more account managers to “strengthen OnDeck’s broker offering”.

Mr Burke commented: “We are identifying key personnel to bring on board to help OnDeck expand and enhance business opportunities across the country.”

“We expect further growth in accreditation as more brokers recognize the benefits of doing business with us,” Mr Burke said.

[Related: ‘Brokers have to expand their offering’, says SME lender]

 

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