Tagged: ondeck

OnDeck Appoints Chandra Dhandapani and Manolo Sánchez As New Board of Directors Members

OnDeck (NYSE: ONDK), a small business online lending platform, announced last week it has appointed Chandra Dhandapani, Chief Digital and Technology officer of CBRE Group, and Manolo Sánchez, former CEO of BBVA Compass, to its board of directors. OnDeck reports at her position at CBRE Group,… Read More

PNC Bank Announces New Partnership With OnDeck to Launch Digital Business Lending Platform in 2019

U.S.-based banking firm PNC Bank announced on Monday it has partnered with online lender OnDeck to create a new digital business lending platform, which is set to launch in 2019. According to the banking group, the lending portal will offer fully digital business lines of… Read More

OnDeck Introduces ODX, Brian Geary Selected as President

OnDeck (NYSE: ONDK), a small business online lending platform, has introduced ODX, a new company that will focus on helping banks digitize their small business lending process.  ODX will operate as a wholly-owned subsidiary of OnDeck. “OnDeck is a pioneer of online lending to small… Read More

OnDeck Milestone: Small Business Online Lending Tops $10 Billion

Online lending platform OnDeck (NYSE: ONDK) announced on Wednesday it has surpassed $10 billion in total loan originated to small businesses. According to OnDeck, the latest milestone is the latest indication that small businesses increasingly prefer to seek financing online. OnDeck reported that it provided its first… Read More

OnDeck Closes a $175 Million Asset-Backed Revolving Credit Facility

Online lending platform OnDeck (NYSE: ONDK) announced on Wednesday it closed a $175 million asset-backed revolving credit facility that consisted of funds provided by Liberty Mutual Insurance Company and certain of its affiliates, as well as funds managed by affiliates of Ares Management L.P. (NYSE: ARES). According to OnDeck,… Read More

OnDeck Closes on Two Asset Backed Credit Facilities Totaling $100 Million

Online lender OnDeck (NYSE:ONDK), has closed on two asset backed credit facilities totaling nearly $100 million. One in the amount of AUD 75 million with Credit Suisse, and another for CAD 50 million with Crédit Agricole, The two facilities will finance loan originations in Australia… Read More

OnDeck Appoints Stephen Klimas as New Head of Investor Relations

Online lending platform for small businesses, OnDeck (NYSE: ONDK), announced last week it has appointed Stephen Klimas as its new Head of Investor Relations. Prior to joining OnDeck, Klimas was Managing Director for Finance and Capital Markets of Avolon, a global commercial aircraft leasing company,  following the company’s acquisition of… Read More

OnDeck Announces $100 Million Revolving Credit Facility Closing

Online lending platform for small business OnDeck announced last week the closing of a $100 million asset-backed revolving credit facility with Pioneers Gate LLC, a lending vehicle of a life insurance company managed by 20 Gates Management. According to OnDeck, the new facility provides the longest revolving funding… Read More

OnDeck Prices $225 Million Initial Principal Amount Of Series 2018-1 Fixed Rate Asset-Backed Notes

Online lending for small business OnDeck (NYSE: ONDK) announced this week that it has priced $225 million initial principal amount of Series 2018-1 Fixed Rate Asset-Backed Notes in a private securitization transaction. According to OnDeck, the notes will be issued in four classes and were priced with a weighted average… Read More

OnDeck Appoints Kenneth Brause As New Chief Financial Officer

Online lending platform for small businesses OnDeck (NYSE: ONDK) announced it has appointed Kenneth Brause as its new Chief Financial Officer, effective March 26th, as part of a mutually agreed upon transition process. The lender reported that current Chief Financial Officer, Howard Katzenberg. Katzenberg will serve as an advisor to… Read More

OnDeck Reports Fourth Quarter and Full Year 2017 Financial Results

Online lending platform for small businesses OnDeck (NYSE: ONDK) announced on Tuesday the release of its fourth quarter and full 2017 year financial results. The online lender reported it achieved a record $5 million of GAAP net income during the fourth quarter. While sharing more… Read More

OnDeck Announces New BlackRock-Managed Fund

Online lending platform for small businesses OnDeck (NYSE: ONDK), the leader in online lending for small business, announced today that a fund managed by an investment advisor subsidiary of BlackRock has joined OnDeck’s platform of financing partners as another committed source of capital to fund… Read More

OnDeck Appoints Former GE Capital & SunTrust Executives to Finance Team

On Tuesday, small business lending platform OnDeck announced two senior financial services executives to join its management team. Kelly Merrill and Erich Wust will assume new leadership roles that directly support the online lender’s  mission of empowering small business owners with the fastest and most… Read More

OnDeck Celebrates 10 Years of Online Lending

On Friday, online lender for small businesses OnDeck (NYSE: ONDK) celebrated 10 years of lending. The company stated that to date it has provided more than $7 billion in capital to over 70,000 customers in 700 different industries in the U.S., Canada, and Australia. Noah Breslow, CEO… Read More

OnDeck Releases Second Quarter 2017 Financial Results & Announces Extension of Existing Relationship With JPMorgan Chase

On Monday, online lender OnDeck released its second quarter 2017 financial results, which revealed a significant narrow quarterly loss along with providing an update regarding the lender’s ongoing $45 million cost rationalization plan, and reaffirmed it is on track to achieve GAAP profitability by the end of 2017…. Read More

OnDeck Results Disappoint as Shares Move Lower

OnDeck (NYSE: ONDK), a leading online lender targeting small business, published Q1 results today. While the lending platform reported and increase of loans under management to $1.2 billion, a 25% increase versus prior year, the news was not good enough to boost shares in the… Read More

Is Kabbage Buying Out Rival OnDeck?

Current State of Affairs Small business lender Kabbage announced earlier this month that it would begin selling over $525 million worth of loans to investors, which will in turn increase its lending capacity to over $2.7 billion. In contrast, Kabbage’s competitor OnDeck, has seen its share… Read More

CreditEase Wealth Management’s Fund Invests $30 Million in Two Transactions With OnDeck & LendingHome

CreditEase Wealth Management announces on Monday its Offshore Private Credit Fund (OPCF) has invested a total of $30 million in two transactions with OnDeck and LendingHome. This announcement comes just one year after the fund made its first investment in Avant and Prosper. According to… Read More

OnDeck Announces Extension & Upsize of Revolving Credit Facility with Deutsche Bank

Online lending platform OnDeck (NYSE: ONDK) announced earlier this week it has officially amended its asset-backed revolving credit facility with Deutsche Bank to extend the facility’s maturity date to March 2019 and also increase the facility’s borrowing capacity by approximately $52 million to a total of approximately… Read More

OnDeck Appoints Former Morgan Stanley COO Jim Rosenthal to Board of Directors

Online lending platform OnDeck (NYSE: ONDK) announced on Monday former Morgan Stanley COO, Jim Rosenthal, is set to join its board of director. This appointment will go into effect on April 3rd.  OnDeck reported during his tenure at Morgan Stanley, Rosenthal served in various roles, including… Read More

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