OnDeck Related Content

OnDeck Names Stroff Chief People Officer

Online lender OnDeck appointed Deb Stroff chief people officer. Stroff will be responsible for leading all aspects of people strategy, including overseeing organizational design, talent management, recruiting, leadership development and learning. read more

OnDeck Reports $110.2MM Gross Revenue for Q1/2019, Up 22% Y/Y

Online lender OnDeck reported first quarter 2019 net income of $5.9 million, a decrease from the $14 million net income from Q4/2018, primarily due to higher loan loss provision, higher operating expenses and an accrual for income taxes. read more

OnDeck Survey: Small Business Owners Mixed On Tax Cut Benefits

A new survey of more than 1,200 small business owners by OnDeck
finds 37 percent of those surveyed expect the tax changes in the Federal Tax Cuts and Job Act to have a positive impact on their businesses. Sixty-three percent of respondents plan to invest in new equipment/leases. read more

OnDeck Offers Same Day Funding to Small Business Customers

OnDeck will offer to fund and debit customer bank accounts with Same Day ACH transfers, eliminating a decades long pain point for small business owners accustomed to the traditional ACH transfer process, which can take multiple days and lacks certainty on when the transactions will hit bank accounts. read more

OnDeck Sees $27.7MM Net Income in 2018

OnDeck announced fourth quarter 2018 net income of $14 million, an increase from $9.8 million from the previous quarter. The company’s full year 2018 net income of $27.7 million was significantly improved from its net loss of $11.5 million in 2017. read more

OnDeck Enters Equipment Financing Market; Hires Key EF Vet to Lead

OnDeck will offer equipment finance loans in 2019. The online small business lender hired Key Equipment Finance veteran Mark Erickson to lead. read more

OnDeck Appoints Capital One & BBVA Vets to Board of Directors

New board members, Chandra Dhandapani and Manolo Sánchez will bring decades of banking, lending and financial technology expertise in large scale organizations to OnDeck. read more

OnDeck Adds New $175MM ABL Revolver from Liberty Mutual, Ares

OnDeck closed a $175 million asset-based revolving credit facility consisting of funds provided by Liberty Mutual Insurance and its affiliates and funds managed by affiliates of Ares Management. read more

OnDeck Q2 Originations Up 26% Y/Y, Assets Exceed $1B

OnDeck reported Q2/18 originations of $587 million, an increase of 26% from a year ago, with growth in both term loans and lines of credit. Total assets increased from $996 million at year end in 2017 to $1,072 million as of June 30, 2018. read more

OnDeck Receives Highest Award from TopConsumerReviews.com

Online business lender OnDeck was awarded the best-in-class five-star rating from TopConsumerReviews.com. read more

OnDeck Reports Lower Q1 Loss on Substantial Drop in Provision Charges

OnDeck reported a Q1/18 net loss of $1.9 million, which was down from a net loss of $11.1 million in Q1/17 as provision charges were $9.9 million lower compared to a year earlier. read more

OnDeck Names CIT Veteran Brause CFO

OnDeck appointed Kenneth A. Brause CFO. Brause previously worked for CIT as treasurer. Prior to that, he led the North America Banking group, including oversight of the Equipment Finance division. read more

OnDeck Swings to Q4 Profit on Lower Provision Charges

OnDeck reported Q4/17 net income of $5.1 million compared to a net loss of $35.9 million for the same quarter in 2016. Q4/17 provision charges of $34.4 million compared to $55.7 million for the same quarter a year earlier. read more

OnDeck Adds BlackRock Fund to Platform of Financing Partners

A fund managed by an investment advisor subsidiary of BlackRock joined OnDeck’s platform of financing partners as a committed source of capital to fund small business loan growth. read more

OnDeck Adds Former GE Capital, SunTrust Executives to Finance Team

OnDeck hired Kelly Merrill and Erich Wust as SVP of Finance and SVP of Portfolio Management, respectively. The former was previously with GE Capital, the latter with SunTrust Bank. read more

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