Upserve, a restaurant administration platform, will present on-line financing choices from OnDeck, a web-based lender to small companies, underneath a partnership between the businesses, in accordance to a press launch.
“Working directly with Upserve, we can now help restaurants when they are most in need,” Andrea Gellert, chief income officer at OnDeck, stated within the launch. “Our partnership is a game changer for small business financing in the restaurant and hospitality industry.”
“The partnership with OnDeck will allow us to offer tailored credit offerings to our restaurant customers whenever they need them, including capital improvements or opening a new location,” stated Andrea Kayal, Upserve’s chief advertising officer, within the launch.
The partnership will allow Upserve restaurant clients to be pre-qualified for credit score choices from OnDeck, together with on-line time period loans and features of credit score. Last month, Upserve shared an e mail publication to its clients with a hyperlink previewing the partnership and permitting them to apply early for OnDeck on-line financing.
“The e-mail about the new financing option from Upserve couldn’t have come at a better time,” stated Laurence Addeo, proprietor of Addeo’s Pizza in Bronx, New York, within the launch. “I am opening a second location and needed money for some small renovations. I figured let me give it a shot. The process was simple and not invasive, and I received my money fast. OnDeck and my advisor Carl were great. He was very thorough when going over the whole process. I am happy I followed up with the email and made the call. I’ll be opening my second location soon.”
To date, OnDeck has offered greater than $900 million in on-line financing to restaurants throughout the U.S., Canada and Australia.