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SME lenders promise cash in a flash as competition fires up

by OnDeck Australia,   Jun 09, 2021

Australian Financial Review

10 June 2021


“The Australian subsidiary of United States SME lender OnDeck on Wednesday revealed a new product called Lightning Loans which use an algorithm to approve borrowers in 90 minutes and deposit up to $100,000 in their account in less than two hours.”


“OnDeck CEO Cameron Poolman says for many borrowers who have had bad experiences with banks taking weeks before ultimately declining the customer, it’s just as much about knowing you can get a loan quickly than accessing the funds right away.”


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