JPMorgan Working With On Deck to Speed Small-Business Loans

Updated on
  • Bank plans to offer a new lending product with On Deck in 2016
  • Executive: `We'll be able to offer almost real-time approvals'

Is Peer-to-Peer Lending the Future of Banking?

JPMorgan Chase & Co., the biggest U.S. bank, is collaborating with On Deck Capital Inc. to dramatically speed up the process of providing loans to some of the lender’s 4 million small-business customers. On Deck’s stock surged 28 percent in extended trading.

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