OnDeck Customer Survey Results from June 2024

This document is a report detailing the results of a customer survey conducted by OnDeck from June 23 to June 28, 2024, involving 413 current customers. The survey aimed to gather insights into various aspects of small business ownership, including motivations for starting a business, ownership demographics, business operations, and financial concerns. It presents data on the importance of factors such as being one's own boss, income potential, and passion in starting a business. The report categorizes businesses by ownership type, industry, and duration of operation, and it discusses customer concerns regarding inflation, cash flow, and hiring qualified staff. Additionally, it outlines the approaches used by business owners to manage cash flow and their reasons for seeking loans, including operational necessities and strategic expansion. The findings reflect a trend towards alternative lending solutions among small business owners, highlighting their preferences and experiences with traditional banking versus non-bank lenders.