On Deck Capital, a New York City-based firm that provides financing to companies making $2 million or less in annual revenue, is looking to expand its team by hiring a chief financial officer, a vice president of sales and five other staffers.
According to its website, On Deck offers “business success loans” of up to $100,000. Chief executive Mitch Jacobs says On Deck Capital serves companies who just miss the cut off for normal bank loans. Given the economic downturn, the demand for On Deck’s loans will grow, Jacobs says.
On Deck is in the middle of raising a round of financing, he adds. The firm’s website lists Khosla Ventures, Contour Venture Partners, First Round Capital, Village Ventures and RRE Ventures as its financial backers.