OnDeck has achieved 70% YOY growth in broker channel lending
- OnDeck’s latest appointment reflects their continued expansion in the broker channel
- Mr Fidler brings commercial lending experience spanning 12 years to OnDeck including a specialisation in third party origination channels within the SME sector
- As a small business owner, Mr Fidler understands firsthand the financing needs of SMEs.
SYDNEY, October 9, 2019: Leading online SME lender OnDeck Australia announces the appointment of Mr Robbie Fidler to the role of National Broker Channel Manager. The appointment reflects OnDeck’s continued expansion into the broker channel as part of its mission to help brokers grow their business and make commercial finance more accessible to Australian SMEs.
Mr Fidler brings to OnDeck commercial lending experience spanning 12 years. As a small business owner himself, he has firsthand knowledge of the financing needs of SMEs, and the challenges they can face securing commercial finance through traditional banks.
Mr Michael Burke, Head of Sales at OnDeck said, “Robbie is a very talented individual. He brings to OnDeck an in-depth knowledge of both SME lending and the needs of brokers.
“Robbie understands the importance of building mutually beneficial relationships with brokers, which is well aligned to OnDeck’s focus on the longevity of broker relationships. As a small business owner himself, Robbie is able to bring value to the conversations he has with brokers around SME lending.” Mr Fidler is a non-executive director of cloud-based motor dealer fleet pricing aggregator portal, FleetCloud.
OnDeck has achieved 70% year on year growth through the broker channel, and the appointment of Mr Fidler is part of OnDeck’s commitment to continued growth of their broker distribution.
“OnDeck recognises the value of the broker channel, and Robbie’s appointment is part of our strategy of investing in quality people who can support brokers’ plans to grow their business by expanding into SME lending,” added Mr Burke.
Enhancing broker education
Mr Fidler said, “I am really excited about joining the OnDeck team and working with our growing team of brokers. I understand that cash flow lending is an area many brokers are unfamiliar with, especially coming from a mortgage broking background.
“This is why I see a large part of my role involving broker education, acting as a coach or mentor to help brokers find opportunities within their existing databases,” said Mr Fidler.
Mr Fidler believes his personal experience as a small business owner has given him unique insights into the needs of Australian SMEs.
“Understanding the best product for a business, and the return on investment of a particular loan is critical – and it involves taking a transactional view of the business rather than just focusing on the interest rate.
“A toy shop for example may need an extra $25,000 worth of stock coming into Christmas but they may not have the cash flow to support that purchase upfront. Yet having this stock could deliver an additional $15,000 of gross profit to the business,” said Mr Fidler.
Mr Fidler will manage OnDeck’s recently expanded broker sales team as OnDeck move into their next phase of growth in the broker channel. “I understand best practise within the operating model of a cash flow lender, and I have had direct involvement in high growth businesses, either in an owner capacity, or an employee capacity. I am eager to be part of OnDeck’s next phase of growth and to help Australian brokers expand their business into SME lending,” said Mr Fidler.
OnDeck’s new National Broker Channel Manager was Chief Procurement Officer and Head of Fleet at one of the world’s first vehicle subscription businesses for on-demand ride share drivers, and had stints at Volkswagen, Mitsubishi and Ferrari Maserati Sydney.
OnDeck (NYSE: ONDK) 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. OnDeck has provided over $12 billion in loans to customers in 700 different industries across the United States, Canada and Australia. In Australia, OnDeck is backed by leading accounting software provider MYOB and has a 5-star rating from Trust Pilot. For more information, visit www.ondeck.com.au
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