New York State Restaurant Association and On Deck Partner to Offer Financing to New York State Restaurants

ALBANY, NY (06/04/2013)(readMedia)-- The New York State Restaurant Association (NYSRA) announced today that it has partnered wi¬th On Deck to offer financing solutions to the hospitality industry across New York State.

"Restaurateurs have historically faced challenges accessing capital, which is why we're so excited about our partnership with On Deck," says New York State Restaurant Association President and CEO, Rick Sampson. "We're thrilled to be working with a New York-based company to deliver financing to our members. On Deck offers restaurant owners a new way to quickly access the financing they need to expand their businesses, hire new employees and purchase new equipment."

On Deck uses technology to efficiently analyze the true health of small businesses and deliver financing in a fraction of the time and with higher approval rates than traditional lenders. The company has loaned over $450 million dollars to restaurants and other businesses nationwide since 2007, and was recently named to the Inc. 500 list of the fastest growing companies in the United States.

"Restaurants have traditionally been forced to choose between banks with their mountains of paperwork and low approval rates and high-interest rate merchant cash advances that don't build business credit," said James Hobson, chief operating officer, On Deck. "We're excited to use our technology to offer NYSRA members a better option– higher approval rates, a fast and simple funding process and real business loans that help build business credit."

New York State operators interested in learning more about On Deck can visit www.ondeckcapital.com/nysra or call the NYSRA On Deck team at (888) 725-4144

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About the New York State Restaurant Association (NYSRA)

The New York State Restaurant Association, founded in 1935, is the leading business association for the restaurant and hospitality industry in New York State. Comprised of more than 56,000 restaurants, bars, clubs, New York restaurants represent more than 628,000 employees and sales of approximately $27 billion - making it the cornerstone of the economy, career opportunities and community involvement. Along with the New York State Restaurant Association and New York State Restaurant Association Educational Foundation, NYSRA and its chapters work to represent, educate and promote the rapidly growing hospitality industry. For more information, visit our Web site at www.nysra.org.

About On Deck

Launched in 2007, On Deck uses data aggregation and electronic payment technology to evaluate the financial health of small and medium sized businesses and efficiently deliver capital to a market underserved by banks. Through the On Deck platform, millions of small businesses can obtain affordable loans with a fraction of the time and effort that it takes through traditional channels. The company's proprietary credit models look deeper into the health of businesses, focusing on overall business performance, rather than the owner's personal credit history. The On Deck system also provides a critically needed mechanism for financial institutions and other business service providers to efficiently reach the Main Street small business market.On Deck has deployed over $450 million in capital to tens of thousands of businesses in 700 different industries. The company is growing at greater than 100% annually, and was recently named to Forbes' 100 Most Promising Companies in America list and the Inc. 500. On Deck is financed by some of the nation's leading venture capital firms, including Google Ventures, SAP Ventures, RRE Ventures, and Institutional Venture Partners. For more information, please visit: www.ondeckcapital.com. For more information, follow On Deck capital on Twitter @OnDeckCapital