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Mayor Bloomberg Helps Open NYC Tech Company

Mayor Bloomberg Helps Open NYC Tech Company
On Deck has provided NYC companies with $10 million in loans.

Mayor Bloomberg helped to open the new headquarters of a New York City tech company that focuses on helping small business. 

On Deck Capital is a small business lender that considers a wide range of data when determining if a company is eligible for a loan. Some of the companies they provide loans for were denied by traditional lenders. 

Bloomberg says On Deck's technology makes it faster for small businesses to get up on their feet.

"There's nothing more thrilling than a small business," he said, "Small businesses are the backbone of our economy. That's where the real growth in employment has been. Something like On Deck helps the entire economy all across the country."

Bloomberg said On Deck is an important part of the City's push to grow its tech sector, which according to him is catching up to Silicon Valley.

"We have to work to make sure that we keep going in all of these different industries," he said, "I don't think there's any argument that a strong tech sector is going to be crucial in global finance and all of these other industries." 

Bloomberg added New York City is already a leader in other industries like fashion and finance.