Post Tagged with: "OnDeck"

Startups Cotton to Venture Debt as Interest Rates Rise

Startups Cotton to Venture Debt as Interest Rates Rise

by December 20, 2016 at 11:07 am 1 comment

The year 2016 may go down as the year of debt for startups, a new report suggests. Venture capitalist plunged to its lowest levels in two years in the last quarter to $2.4 billion for fintech startups. But founders — especially for fintechs — still needed access to capital. BloombergRead More

OnDeck Adds $200 Million Revolving Debt Facility from Credit Suisse

OnDeck Adds $200 Million Revolving Debt Facility from Credit Suisse

by December 13, 2016 at 9:30 am 0 comments

Small business marketplace lender OnDeck is adding Credit Suisse to its financing toolbox with a $200 million revolving debt facility. Under terms of the deal, OnDeck has access to $125 million, and another $75 million “at the discretion of the lenders.” “OnDeck intends to initially use a portion of thisRead More

Borrowers Love Nonbank Lenders — But Still Want Banks in Their Lives

Borrowers Love Nonbank Lenders — But Still Want Banks in Their Lives

by October 27, 2016 at 12:50 pm 1 comment

Americans are quite happy to look at nonbank lenders for their borrowing needs, but that doesn’t necessarily mean they distrust banks. A recent J.D. Power survey of small business owners released some startling figures — startling to banks, that is. Most borrowers, specifically small-business borrowers, consider nonbank lending options for their financingRead More

How Amex Is Going After Banks with Its New SMB Lending

How Amex Is Going After Banks with Its New SMB Lending

by July 5, 2016 at 2:28 pm 2 comments

American Express is taking a page from Square’s book and launching an online platform for small business loans of up to $750,000 — but its main target may be banks. The news came today via Bloomberg, which reported funds could be available as soon as two days after loan approval.Read More

OnDeck Maintains ‘Hybrid’ Funding Approach

OnDeck Maintains ‘Hybrid’ Funding Approach

by June 10, 2016 at 12:48 pm 0 comments

OnDeck Capital Inc. is keeping up with its “hybrid” funding model to withstand the rockiness of marketplace lending, COO James Hobson said. In its latest earnings report, the lender said that only 15% of its originations were funded through marketplace lending, compared with 35% to 45% in the fourth quarter ofRead More

Investors on the fintech lending crash diet

Investors on the fintech lending crash diet

by May 18, 2016 at 4:13 am 1 comment

  In the US alone, the unfulfilled small business lending market was estimated to have reached $96.5 billion in Q4 of 2015. That’s a lot of lending mouths going hungry, but also a big pie up for grabs by those smart enough to work out how to actually lend toRead More

Searching for the Priceline of Fintech after Lending Market Meltdown Week

Searching for the Priceline of Fintech after Lending Market Meltdown Week

by May 16, 2016 at 2:00 am 1 comment

You could have bought Priceline stock below $10 in 2001. For many years you had little to show for it. From then until 2008, you had some appreciation, but not much. Then the stock shot up above $1,000 (as of writing it is $1,261). Yes that is 100x return fromRead More

Yet Another Association for Marketplace Lending Launches

Yet Another Association for Marketplace Lending Launches

by May 6, 2016 at 10:50 am 3 comments

That’s what the industry needs: competing marketplace lending associations. Today, the three big names in marketplace lending (for now — more on that below) that were not in the just-launched Marketplace Lending Association have formed the Innovative Lending Platform Association. This is Funding Circle, Lending Club and Prosper Marketplace of the Marketplace LendingRead More