Using big data, we are able to evaluate lending with a multitude of sources beyond most credit bureaus and other lending sources. This results in financing solutions to businesses far faster than our peers at half the cost of merchant cash advances.
New York, NY (PRWEB) February 19, 2014
The Ivy Family Office Network hosted its February 2014 Family Office Trends Forum in New York, NY on February 13th. Zhengyuan Lu, Vice President of Capital Markets for OnDeck, the technology-powered Main Street lender, led a discussion panel on credit markets. Lu led the panel with a discussion focused on “Credit Strategies” for family office investing, structure and operational excellence.
“There has been a pull back in lending from regional banks and larger national banks to small and emerging businesses,” said Zhengyuan Lu, Vice President of Capital Markets, OnDeck. “Using a big data approach, we are able to evaluate business lending using a multitude of data sources that most credit bureaus and other lending sources do not consider. As a result, we can provide financing solutions to businesses far faster than our peers at half the cost of merchant cash advances.”
He continued, “From our unique approach and proprietary credit model, we have been able to deploy over $900 million in capital to tens of thousands of businesses across 725 different industries. We consider ourselves to be a disruptive financial and technology firm, compared to many of the emerging firms today in the peer-to-peer space.”
Other speakers on the panel included Eric Rosen of Reef Road Capital, Patrick Maldari of Aberdeen Asset Management, Phil Darivoff of DFG Investment Advisors and Mickey Vetter of Market Access Partners.
Zhengyuan Lu (known as Lu) works directly with the company’s Chief Financial Officer, Howard Katzenberg. He coordinates and manages capital markets activities, and develops diversified financing strategies for loans originated through the OnDeck platform.
Prior to OnDeck he was with Gleacher & Company, where he held the position of Managing Director of the Asset Finance Group. He was responsible for the origination and structuring of asset based financing transactions. Previously, Lu served as Managing Director and Head of Structured Products Group at Keefe, Bruyette & Woods where he was in charge of organizing and trading all structured products, as well as a Senior Vice President with Fortis Securities and WestLB AG, where he originated and structured a variety of cash and derivative transactions. Lu was also a Portfolio Manager at PPM America (Asset Management arm of Prudential UK), where he built and managed a multi-billion dollar portfolio involving a wide range of assets.
Lu holds a B.A. in Economics and Computer Science from Middlebury College, where he was elected Phi Beta Kappa.
Launched in 2007, OnDeck 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 OnDeck 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 OnDeck system also provides a critically needed mechanism for financial institutions and other business service providers to efficiently reach the Main Street small business market.
OnDeck has deployed over $900 million in capital to tens of thousands of businesses across 725 different industries. The company is growing at greater than 100 percent annually, and was recently named to Forbes' 100 Most Promising Companies in America list and the Inc. 500/5000 for a second year in a row. The company also has earned an A+ rating with the Better Business Bureau. OnDeck is financed by some of the nation's leading venture capital firms, including Google Ventures, SAP Ventures, RRE Ventures and Institutional Venture Partners.
About The Ivy Family Office Network Forum
The Ivy Family Office Network Forum, IvyFON, provides an ongoing dialogue for family offices to support high-value education and information on trends for family office investing, structure and operational excellence. Attendees gain practical strategies and solutions to achieve both short and long-term objectives. The program features off-the-record, peer-to-peer discussions in a non-commercial setting, in-depth and highly interactive sessions.
IvyFON, is a leading peer to peer global family office network with several hundred family offices attending events around The Americas every year. Some of the more than 2,000 past speakers include most of the top 10 largest asset allocating consultancies, pre-eminent alternative investment funds, leading institutional investors, best-in-class asset management professionals, family office subject matter experts and world-class family offices.
Forum sessions are multi-format and cross-disciplinary covering a range of family office centric topics.
IvyFON originates from one of the United States’ oldest and largest alternative investment networks, the IvyPlus network. IvyPlus originated as a peer to peer private equity, real estate and hedge fund network consisting of Ivy League and comparable school alumni as well as meritorious participants in the program. The group includes New York City and Los Angeles deal networks across multiple disciplines including private equity, health care and real estate. More than 15,000 investment, family office and institutional investment professionals have attended forums globally.
For more information on OnDeck contact Josh Wishnick at jwishnick(at)ondeck(dot)com or at (646) 405-5940. For more information on the Ivy Family Office Network, contact us at 646-290-8114 or at ivyfon.com/contact.html.