This partnership extends immediate, pre-authorized and transparent funding to the 50,000 U.S. businesses using CardConnect to accept billions of dollars in transactions each year.

With OnDeck's technology platform integrated into CardConnect's underwriting process, CardConnect merchants have immediate access to both payment processing and small business loans. CardConnect merchants can secure fixed amounts of capital -- ranging from $5,000 to $250,000 -- for what is typically 50 percent less expensive than a merchant cash advance.

"Small and medium-sized businesses are continually inhibited from taking advantage of time-sensitive opportunities that require additional capital, whether it be due to the slow-moving approval process by a bank or external economic factors like a government shutdown," said Pat Shanahan, Chief Operating Officer at CardConnect. "We wanted to make sure our clients always have an avenue to secure funds quickly and fairly. There's no company doing this better than OnDeck."

"The thousands of Main Street businesses using CardConnect are now empowered with instant access to the capital they need to grow," said James Hobson, Chief Operating Officer at OnDeck. "Providing capital to small business owners is OnDeck's biggest priority, and working with CardConnect enables us to further extend our reach."