·
[Editor’s note: This is a guest post from Noah Breslow, CEO of OnDeck. OnDeck is a gold sponsor and will be in...
Yesterday, OnDeck released their Q4 and FY 2015 earnings. 2015 was the first full year as a public company for OnDeck,...
OnDeck announced a record $590 million in originations for Q2 2016 in yesterdays earnings report. This is an increase from...
Yesterday, the Innovative Lending Platform Association (ILPA), made up of small business online lending leaders OnDeck, Kabbage and CAN Capital,...
This morning OnDeck released their Q3 2016 earnings. The company continues to increase originations which were $613 million for the quarter,...
At the end of every year I like to look back at the biggest stories that made news in the...
Yesterday, OnDeck released their Q1 2016 earnings. The company is facing headwinds that are affecting the entire industry as investor...
OnDeck has partnered with institutional data consultant, Orchard, to provide data reporting for institutional investors on its platform; OnDeck is a small business lender with significant investment from institutional investors; through the partnership Orchard will manage the loan reporting for OnDeck's institutional investors and provide investors with access to investor dashboards, portfolio benchmarking, automated daily holdings reports and a variety of customized reporting options held within the Orchard for Originators data system. Source
Zhengyuan Lu, OnDeck's Senior Vice President of Capital Markets, will soon move to investment firm, Victory Park Capital; his last day is Tuesday; Victory Park invests in and provides credit facilities to online lenders, including Avant Inc. and Square Inc.; the last year has been a challenge for OnDeck as investors have not been buying loans at the same pace and this has forced the lender to hold more loans on its balance sheet. Source
On November 3rd, On Deck Capital, the largest online small business lender in the US, reported its third quarter earnings; Lend Academy provides details of the earnings report in their article; company reported a loss of $16.6 million; it had reported a profit for the same period in 2015; the adjusted loss came to -$0.18 per share, versus Wall Street expectations of -$0.15 per share; originations increased from $590 million in the second quarter to $613 million for the third quarter; company expects full-year revenue of $280 million to $290 million; shares closed at $4.52, down from $9.46 a year ago; last week, it was publicized that Zhengyuan Lu, an executive for investor loan sales, is leaving the firm to join Victory Park Capital. Source