On Deck Capital raises $10,000,000

On Deck Capital Inc., a New York-based provider of financing for small businesses that wouldn’t normally qualify for bank loans, has raised $10 million in Series B funding.  “On Deck reviews your company’s cash flow to determine your eligibility, so that we can offer performance-based loans to businesses that were previously locked out of needed capital.  Unlike Merchant Cash Advance companies that approve even poorly managed businesses and charge APRs upward of 125%, On Deck provides affordable rates to well-run small businesses for whom traditional financing is not the appropriate option.”