OnDeck Capital Starts Applications Process for SBA's Paycheck Protection Program

On Deck Capital Inc., in partnership with Celtic Bank, will be serving small business owners seeking funding under the Small Business Administration's Paycheck Protection Program loan applications, a part of the Coronavirus Aid, Relief and Economic Security Act, known as the CARES Act.

Under the Paycheck Protection Program, OnDeck Capital will be processing and servicing loans on behalf of national SBA lender Celtic Bank, a Utah-Chartered Industrial bank.

On April 9, OnDeck Capital also applied to the SBA to become a direct lender under the Paycheck Protection Program.