Tagged: ondeck

OnDeck Receives NYSE Notice Regarding Price Per Share of Under $1

OnDeck (NYSE: ONDK), an online lender serving SMEs, has received a notice from the New York Stock Exchange (NYSE) as the company does not meet the continued listing standard that requires OnDeck to maintain a minimum average closing price of $1.00 per share over a… Read More

Back in the Game: OnDeck to Restart Lending in June

OnDeck (NYSE:ONDK), an online lender supporting SMEs, is planning to start originating loans at some point in June. This is according to a recent 8-K filed by the company. Last month, it was reported that OnDeck had hit the pause button on lending as it… Read More

OnDeck May be Sold in “Fire Sale” – Report

There has been a lot of chatter regarding the fate of Fintech lenders in the past few weeks. The COVID-19 pandemic has hammered online lenders as sources of capital have shied away and some borrowers have backed off. Existing borrowers are not always making payments… Read More

Online SME Lender OnDeck Approved for CARES Act PPP Loans

OnDeck (NYSE: ONDK), an online SME lender, has been approved as a Small Business Administration (SBA) lender to facilitate the Paycheck Protection Program (PPP), part of the CARES Act Coronavirus assistance program. Under the PPP, OnDeck will be processing and servicing loans on behalf of… Read More

OnDeck Appoints Linda Tan as New Head of Internal Audit

OnDeck (NYSE: ONDK), a small business online lending platform, recently announced he has appointed Linda Tan as its new Head of Internal Audit. OnDeck reported that Tan will oversee its Internal Audit team and deliver independent, objective assurance and advisory audit services that align with… Read More

OnDeck Appoints Scott Totman as New Chief Product & Technology Officer

OnDeck (NYSE: ONDK), a small business online lending platform, recently announced it has appointed Scott Totman as the company’s Chief Product and Technology Officer. OndDeck reported that Totman will oversee its engineering, product, and design organizations with a focus on building the next generation of… Read More

OnDeck: Cloud Banking Platform Mambu Chosen to Offer Servicing Tech for ODX’s Online Lending Platform

Mambu, a cloud-based banking solution, revealed on December 12 that it had been chosen by ODX, an established provider of digital lending products for small businesses and a subsidiary of OnDeck (NYSE:ONDK), in order to provide servicing technology for ODX’s digital lending platform. The steady… Read More

OnDeck’s Latest Survey Reveals: Economy is Top Concern for Small Businesses Ahead of 2020 Election

OnDeck (NYSE: ONDK), a small business online lending platform, announced on Friday its latest survey reveals that the economy is a top concern for small businesses ahead of next year’s presidential election. According to OnDeck, the survey is the first in a series that the… Read More

Fintech OnDeck Whiffs, Shares Get Hammered as JP Morgan Stops Using Platform, OnDeck Decides to Pursue Bank Charter

Earlier today before market open, online lender Ondeck (NYSE:ONDK) posted Q2 earnings. Ondeck said that it generated net income of $4.3 million, adjusted net income of $6.9 million and gross revenue of $110.2 million. Second-quarter results were inclusive of the company’s business combination with Evolocity… Read More

OnDeck Appoints Lonnie Hayes as New Head of Sales & Strategy at ODX

OnDeck (NYSE: ONDK), a small business online lending platform, announced on Wednesday it has appointed Lonnie Hayes as the new head of sales and strategy for ODX, a wholly-owned subsidiary of OnDeck that assists banks with streamlining and digitizing small business credit origination. According to… Read More

OnDeck Teams Up With Upserve For Restaurant Financing

OnDeck (NYSE: ONDK), a small business online lending platform, announced on Wednesday it has formed a new partnership with  Upserve, a restaurant management platform, to provide Upserve’s restaurant customers with online financing options from its website. According to OnDeck, more than 10,000 restaurants currently use… Read More

OnDeck Canada Announces Small Business Partnership With Coast Capital Savings

OnDeck Canada announced last week it has formed a new partnership with Canadian credit union, Coast Capital Savings, to accelerate online lending to Coast Capital small business members. According to OnDeck Canada, Coast Capital Savings small business members may now apply for term loan financing… Read More

OnDeck Announces “Summer of Small Business” National Campaign

OnDeck (NYSE: ONDK), a small business online lending platform, recently announced the launch of its new national “Summer of Small Business” campaign. According to OnDeck, the campaign spotlights the hard work and achievements of small business owners and as part of the event, CEO of… Read More

OnDeck Announces First Quarter 2019 Financial Results

OnDeck (NYSE: ONDK), a small business online lending platform, announced on Thursday its 2019 first quarter financial results. According to OnDeck, net income of $5.9 million, Adjusted Net Income of $8.3 million and gross revenue of $110.2 million. “Net income was $5.9 million, or $0.07 per diluted share, and decreased from the… Read More

OnDeck Now Offering Same Day Funding For Small Businesses

OnDeck (NYSE: ONDK), a small business online lending platform, announced on Friday it will offer to fund and debit customer bank accounts with Same Day ACH transfers. According to OnDeck, same Day ACH transfers will provide qualified OnDeck Term Loan and Line of Credit customers… Read More

OnDeck Completes Transaction Combining OnDeck Canada With Evolocity Financial Group

OnDeck (NYSE: ONDK), a small business online lending platform, announced earlier this week it has completed the transaction combining its Canadian operations with Evolocity Financial Group (Evolocity), a Montréal-based online small business lender. According to OnDeck, the transaction combines the local operations, technology and Canadian… Read More

OnDeck Announces Extension of Two Revolving Credit Facilities With Credit Suisse & Deutsche Bank

OnDeck (NYSE: ONDK), a small business online lending platform, announced on Wednesday extensions to its existing credit facilities with Credit Suisse and Deutsche Bank on improved terms.  According to OnDeck, the amended facilities provide an aggregate of $360 million of committed funding capacity and are… Read More

OnDeck Announces Addition of Experienced Risk, Partnerships & Marketing Executives to Growing Team

OnDeck (NYSE: ONDK), a small business online lending platform, announced on Friday it has added three senior financial services executives as members of its management teams in Risk, Partnerships and Marketing. This news comes just days after OnDeck announced the closing of its $85 million corporate revolving credit facility… Read More

OnDeck Completes $85 Million Corporate Revolving Credit Facility

OnDeck (NYSE: ONDK), a small business online lending platform, announced on Thursday the closing of its $85 million corporate revolving credit facility with a lender group, which included four banks. According to OnDeck, the new committed facility can be used for general corporate purposes and replaces OnDeck’s prior $30… Read More

OnDeck to Offer Equipment Finance Loans to Select U.S. Small Businesses

OnDeck (NYSE: ONDK), a small business online lending platform, announced on Wednesday it is set to offer equipment finance loans to select U.S. small businesses next year, bringing its technology and digital lending expertise to what it believes has traditionally been a slow-moving, opaque, and… Read More

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