What's Behind the Alternative Lending Boom?

The video discusses On Deck's innovative approach to lending, focusing on the health of small businesses rather than personal credit scores. It highlights the $60 billion lending gap for Main Street businesses and explains the marketplace model that pools funding for these businesses. The On Deck score rates businesses instead of owners, and distribution is achieved through independent sales organizations. The application process is quick, and the future of financial services is expected to offer more consumer-friendly products.

What is the primary focus of OnDeck's lending platform?

• Real estate investments

• Peer-to-peer lending

• Health and performance of the business

• Personal credit scores of business owners

How does OnDeck's marketplace model operate?

• By using only internal funds

• By gathering funds from a pool of investors

• By relying solely on bank loans

• By using government grants

What concern is addressed regarding businesses using OnDeck?

• Businesses have too many employees

• Businesses use OnDeck as a last resort

• Businesses might not repay loans

• Businesses lack online presence

What is required from a small business owner to apply for a loan on OnDeck?

• A high personal credit score

• A detailed business plan

• Basic business information

• A recommendation from a bank

What future trend in financial services is mentioned?

• Increased reliance on physical branches

• Reduction in small business loans

• More products improving banking

• Decrease in online banking