Statement from Clive van Horen, Executive General Manager, Small Business, Retail Banking Services, Commonwealth Bank:
We have entered into an exclusive banking referral partnership with leading online small business lender OnDeck Australia. We are working towards commencing the program in early 2016.
In the spirit of innovation and meeting more of our small business customers’ needs, we are working with OnDeck to identify customers that may be suitable for OnDeck loans.
CBA has made a significant investment in small business and has a range of products to meet the needs of our small business customers. The partnership with OnDeck provides an opportunity to meet more of our small business customer needs.
This partnership builds on CBA’s leadership in technology and innovation with OnDeck’s sophisticated credit platform and OnDeck Score®. The power of both partners combined is a real ‘win’ for Australian small businesses.