NEW YORK, Sept. 5, 2019 /PRNewswire/ -- OnDeck (NYSE:
ONDK), the leader in online lending to small business, today
announced that TyMac Electric of Plano,
Texas is its Small Business of the Month for August,
2019. The 30-person company serves the Dallas-Fort Worth area with high-quality,
professionally managed electrical services.
TyMac Electric provides commercial electric services, primarily
in high rise buildings, and works with architects and engineers to
secure new business. Owner Ty
McCaslin says fast, flexible access to financing from
OnDeck® was important to his company's ability to keep
up with new business opportunities in the fast-growing Dallas commercial real estate market. The
company received its first line of credit from OnDeck in 2017.
"Our customers typically have tight deadlines, so securing the
financing we need on short notice is crucial to winning new
business," said Mr. McCaslin. "Obtaining a line of credit from
OnDeck was fast and easy and allowed us to maintain focus on our
clients and their requirements, rather than spending time on
obtaining financing offline."
Over the last two years, OnDeck has provided additional
financing to TyMac Electric as the business grew to meet demand in
the Dallas-Fort Worth commercial
marketplace. The area is renowned as a national leader in delivered
office space, new construction, and corporate migrations.
"Our clients love seeing one of our projects come to fruition,"
said Mr. McCaslin. "When you complete a multi-million dollar
lighting job, it is amazing to see the transition of a commercial
building from empty to powered up and shining brightly. We
plan to continue fulfilling that mission for commercial clients
throughout the Dallas-Fort Worth
area in the future."
"OnDeck is committed to offering timely financing options to
small business owners like Ty at critical points in their business
cycle," said Andrea Gellert, Chief Revenue Officer,
OnDeck. "Since our inception, OnDeck has provided more
than $300 million in financing to
electrical and wiring installation contractors.
We are proud to be an important financial partner for
this critical industry and all of us at OnDeck congratulate TyMac
Electric on its success."
Overall, OnDeck has provided more than $879 million in financing online to small
business owners in the State of Texas.
The Small Business Spotlight series from OnDeck is designed to
highlight and reinforce the vital importance of small businesses.
Every month, OnDeck spotlights the achievements of its small
business customers and how they are thriving as a result of
receiving capital from OnDeck. To learn more about Ty McCaslin's small business journey,
visit: www.ondeck.com/smallbusinessspotlight
For more information on TyMac Electric, visit:
www.tymacelectric.com
About OnDeck
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. 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 $12 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 5 stars by
Trustpilot. For more information, visit www.ondeck.com.
OnDeck, the OnDeck logo, OnDeck Score and OnDeck Marketplace are
trademarks of On Deck Capital, Inc.
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SOURCE On Deck Capital, Inc.