Technology Firm Thrives in West Texas with OnDeck Financing
NEW YORK, NY., July 31, 2018 – – OnDeck® (NYSE: ONDK), the leader in online lending to small business, today announced that CieloIT, a Managed Services Provider (MSP) specializing in technology solutions for business, has been selected as the OnDeck Small Business of the Month for July 2018.
Based in Lubbock, Texas, CieloIT was founded in 2009 by entrepreneur Imre Szenttornyay. Imre selected Lubbock as the headquarters for the company due to his family roots in the area, outstanding universities and a firm belief that the City of Lubbock had the potential to become “the Silicon Valley of West Texas.” The journey from startup to a Texas technology star was not an easy one for Imre as he encountered challenges at nearly every stage in funding his dream.
“Securing financing to grow CieloIT was difficult for us due to antiquated processes within traditional financing institutions,” said Imre Szenttornyay, Chief Executive Officer, CieloIT. “The application process to obtain a small business loan was convoluted and we were stuck in cycle upon cycle of paper work in underwriting departments, delaying our application and frustrating us to no end. I thought to myself, there has to be another way.”
In the spring of 2011, with multiple projects underway that required financing, Imre was referred to OnDeck and immediately he found simplicity and ease online.
“The team at OnDeck has assisted our organization in obtaining financing five times over the last four years,” said Imre. “The simplified application and ease of doing business with them makes for the perfect financial solution for us. Other banks were willing to work with us based on our excellent business credit, but they could not respond to our needs in a timely manner like OnDeck.”
OnDeck stepped up to provide financing for CieloIT in 2011 and has provided additional loans at key times in the company’s growth. According to Imre, he works closely with OnDeck to take just the right amount of financing at just the right time for his business needs.
“In the face of shrinking funding from traditional banks, having a strong relationship with OnDeck has been crucial as we build out our business strategically with smart and timely financing,” said Imre. “The high standards set by OnDeck, the seamless experience and fast decision making, along with their transparency has changed my view of small business financing for the better.”
“At OnDeck, we are focused on building long-term relationships with our customers,” said Andrea Gellert, Chief Revenue Officer, OnDeck. “It has been a privilege for us to work with Imre over the last seven years and to see how our financing has helped CieloIT become a leading company in the West Texas region.”
Today, CieloIT specializes in Cloud and Internet-based solutions for business, offering rapid development and prototyping of custom managed cloud hardware and software through CieloLabs’ Blue Kit. The company owns its own VOIP platform (CieloVoice) and PINK Verify certified service desk software platform with built-in Artificial Intelligence (AI), Internet of Things (IoT) sensor support and Machine Learning (ML). CieloIT also provides low voltage, IT, security, A/V and cabling systems integration, monitoring, consulting, staging, deployment, training, maintenance, field service management and project management through its own multi-lingual call center and ITIL certified helpdesk with English, Spanish, German, and Portuguese capabilities.
To learn more about how CieloIT is turning the West Texas region into a hotbed of technology innovation, visit: https://www.cieloit.com/
Since its inception in 2007, OnDeck has provided more than $826 million in capital to small businesses in Texas.
The Small Business Spotlight series from OnDeck is designed to reinforce the vital importance of America’s small business owners. Every month, OnDeck spotlights the achievements of its small business customers and how they are thriving as a result of receiving capital from OnDeck. To learn more, visit https://www.ondeck.com/smallbusinessspotlight
About OnDeck
OnDeck (NYSE: ONDK) is the leader in online small business lending. Since 2007, the company has powered Main Street’s growth through advanced lending technology and a constant dedication to customer service. OnDeck’s proprietary credit scoring system – the OnDeck Score® – leverages advanced analytics, enabling OnDeck to make real-time lending decisions and deliver capital to small businesses in as little as 24 hours. OnDeck offers business owners a complete financing solution, including the online lending industry’s widest range of term loans and lines of credit. To date, the company has deployed over $8 billion to customers in 700 different industries across the United States, Canada and Australia. OnDeck has an A+ rating with the Better Business Bureau and is rated 5 stars by Trustpilot. For more information, please visit www.ondeck.com.
Contact:
Jim Larkin
OnDeck
jlarkin@ondeck.com
P: 203-526-7457