OnDeck Partners with HomeAdvisor

Rhea-AI Summary

OnDeck has announced a partnership with HomeAdvisor to provide financing options for home service professionals. This collaboration aims to support small businesses recovering from the pandemic by giving them access to transparent and flexible financing solutions. With nearly 15 years of experience, OnDeck has issued over $13 billion in loans, helping businesses grow. This partnership aligns with growing demand for financing in the contracting and building sectors, facilitating easier access to capital for professionals using HomeAdvisor's platform.

Positive

• Partnership with HomeAdvisor enables access to flexible financing for home service professionals.
• OnDeck has provided over $13 billion in loans, indicating strong lending capabilities.
• Increased demand for financing options supports business growth for contractors.

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• None.

NEW YORK, Feb. 22, 2021 /PRNewswire/ -- OnDeck®, a part of Enova International, today announced a partnership with HomeAdvisor to support home service professionals and companies on the HomeAdvisor network with access to transparent, flexible and timely financing options. As the nation continues to recover from the pandemic, small businesses will need resources to restart, grow and thrive again. This partnership will enable HomeAdvisor service professionals to effortlessly access leading online financing options to support their businesses and assist American families.

OnDeck, a leader in online small business lending, has nearly 15 years of experience providing small businesses with over $13 billion in online financing that meets the individualized needs of each business. HomeAdvisor is the nation's leading marketplace for Americans to find qualified and available home service professionals.

With businesses beginning to reopen, contracting and building services demand continues to rise. Now, the professionals who use HomeAdvisor to find clients will also be able to use HomeAdvisor to further grow their business, finance their projects and further support homeowners around the nation.

"This partnership with HomeAdvisor is a great fit for OnDeck," said Jim Granat, senior vice president at Enova and co-head of OnDeck. "We share a unified mission of expanding access to quality and transparent products for our customer base. Since the summer, we've seen an increasing demand for financing options for contracting and building professionals. Partnering with HomeAdvisor was a natural choice to further our mission and provide access and choice to small businesses. Through this partnership, HomeAdvisor professionals will have timely access to OnDeck's suite of small business financing options, allowing them to remain focused on managing their businesses and the projects they're taking on."

"Across the U.S., home service activity is booming, which creates an opportunity for home pros and their businesses to grow and thrive," said Bryan Ellis, EVP of Operations at HomeAdvisor. "For pro businesses to continue to grow, access to capital is essential. We are excited to be partnering with OnDeck, who has proven to be a great resource for small businesses."

More information on OnDeck's small business financing options can be found at OnDeck.com. Information about the services, professionals and range of options offered by HomeAdvisor is available on HomeAdvisor.com.

About OnDeck
OnDeck®, a brand of Enova International, is the proven leader in transparent and responsible online lending to small business. Founded in 2006, the company pioneered the use of data analytics and digital technology to make real-time lending decisions and deliver capital rapidly to small businesses online. Today, OnDeck offers a wide range of term loans and lines of credit customized for the needs of small business owners. The company also offers bank clients a comprehensive technology and services platform that facilitates online lending to small business customers through ODX, a wholly owned subsidiary. OnDeck has provided over $13 billion in loans to customers in 700 different industries across the United States, Canada and Australia. The company has an A+ rating with the Better Business Bureau and is rated 4.9 stars by Trustpilot. For more information, visit www.ondeck.com.

About HomeAdvisor
HomeAdvisor® is a digital marketplace evolving the way homeowners connect with service professionals to complete home projects. With HomeAdvisor's on-demand platform, homeowners can find and vet local, prescreened home service professionals; view average home project costs using True Cost Guide; and instantly book appointments online or through HomeAdvisor's award-winning mobile app, which is compatible with all iOS, Android and virtual assistants, including Amazon Echo. HomeAdvisor is based in Denver, Colo., and is an operating business of ANGI Homeservices, Inc. (NASDAQ: ANGI).                                        

OnDeck, the OnDeck logo, OnDeck Score, ODX and OnDeck Marketplace are trademarks of On Deck Capital, Inc.

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SOURCE OnDeck

FAQ

What is the importance of the OnDeck and HomeAdvisor partnership for small businesses?

The partnership allows small businesses in the HomeAdvisor network to access flexible financing options, essential for growth and recovery post-pandemic.

How much financing has OnDeck provided to small businesses?

OnDeck has provided over $13 billion in financing to small businesses since its inception.

When was the OnDeck and HomeAdvisor partnership announced?

The partnership was announced on February 22, 2021.

What services will HomeAdvisor professionals benefit from through OnDeck?

HomeAdvisor professionals will benefit from timely access to a range of financing options offered by OnDeck.

What is OnDeck known for in the lending industry?

OnDeck is known for its transparent and responsible online lending to small businesses, utilizing data analytics for real-time lending decisions.