Cloudsquare’s lending platform integration with OnDeck just got more powerful. With the release of version 1.10, brokers and merchants will no longer be prompted to submit unnecessary FinCEN paperwork, a change that saves time, eliminates confusion, and ensures faster approvals in the Merchant Cash Advance space.
What Changed with OnDeck v1.10 Integration?
The OnDeck integration has been updated to handle ownership data more intelligently. Previously, single-owner businesses could be required to provide unnecessary FinCEN documentation due to incomplete owner information in the application payload.
With this update, the integration now automatically detects single-owner businesses and ensures all required ownership details are correctly passed to OnDeck. This means no more irrelevant FinCEN requests, helping your deals move faster and with less friction.
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Why This Matters for Brokers and Lending Teams
This isn’t just a technical fix. It’s a strategic improvement that strengthens your lending platform:
- Faster Approvals: No wasted time chasing unnecessary documents.
- Less Confusion: Brokers and merchants only complete the required steps.
- Smarter Stipulation Logic: Single-owner businesses = no FinCEN request.
Multi-owner or large-stake partners = compliant documentation collected.
In the fast-paced Merchant Cash Advance integration market, these changes can mean quicker funding and happier clients.
Single-owner businesses or those without large-stake partners = No FinCEN request.
“OnDeck has been a leading online lender since 2007, providing small businesses with fast, flexible financing solutions.” (Ondeck, 2021)
FAQs about OnDeck v1.10 Integration
Q1: What is the OnDeck integration in Cloudsquare’s lending platform?
A: The OnDeck integration connects Cloudsquare’s lending platform with OnDeck to streamline the Merchant Cash Advance process, reduce paperwork, and speed up approvals.
Q2: What’s new in OnDeck v1.10 integration?
A: Version 1.10 automatically detects single-owner businesses and prevents unnecessary FinCEN requests, making deals faster and less confusing for brokers and merchants.
Q3: How does this update help Merchant Cash Advance integrations?
A: The update improves Merchant Cash Advance integration by removing irrelevant compliance steps, ensuring only required ownership details are collected, and speeding up approvals.
Q4: Do I need to reconfigure my system to use OnDeck v1.10?
A: No. The upgrade requires no extra configuration. Once you install v1.10, the improvements take effect immediately.
Q5: How is Cloudsquare different from Salesforce Financial Services Cloud (FSC)?
A: Unlike Salesforce FSC, which was built for traditional financial services, Cloudsquare is purpose-built for alternative lending. That means features like OnDeck integration v1.10 are designed specifically for MCA brokers and lenders, making workflows faster and smarter.
What Do You Need to Do?
Nothing changes in your current setup, just upgrade to OnDeck v 1.10 Integration, and the improvements will take effect immediately.
Closing Thoughts
This update enhances the lending experience by saving time and reducing friction in the Merchant Cash Advance process. Upgrading to version 1.10 delivers a faster, smarter solution that benefits brokers, merchants, and lenders alike.
No extra configuration. No disruptions. Just a better workflow.
You can find the installation link in the Lender API: Latest Versions here.
