Alternative Finances

OnDeck Launches Accountant Advisor Program

Federal Reserve

Online lender OnDeck said on Tuesday (June 7) that it has expanded its Accountant Advisor Program. The firm said via press release that it has boosted its presence through increased hiring efforts that bring new footprints into Kentucky, Florida and Alabama.

OnDeck stated that its program is a “state-of-the-art referral platform" that helps accounting firms serve their clients with expanded offerings, especially as pertains to working capital and other financing needs. The company said that the additional services include loans of up to $500,000, with additional lines of credit available for up to $100,000, and interest rates for some customers can fall below 6 percent.

In a statement that accompanied the release, Frank Orofino, director of the firm’s Accountant Advisor Program, said: "The new OnDeck Accountant Relationship Managers will enable us to provide the accounting community in the Southeast with attractive financing options for their clients. CPAs and accountants provide an invaluable service to the community. We aim to help them unlock valuable lending insights when it matters most and bring unprecedented levels of relevancy and timeliness to their client engagements."

As has been noted by the firm, OnDeck focuses on small business lending, with proprietary scoring systems in place. OnDeck also stated in its release that it has, to date, helped deploy $4 billion to more than 50,000 customers.

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