Enova International and OnDeck®, announced that they have entered into a definitive agreement under which Enova will acquire all outstanding shares of OnDeck in a cash and stock transaction valued at approximately $90 million. The implied price of $1...
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July 29, 2020, 07:20 AM
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OnDeck announced it has been approved by the U.S. Small Business Administration (SBA) to provide Paycheck Protection Program loans. "OnDeck's mission has always been to promote the growth and success of underserved small businesses by providing fast...
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April 16, 2020, 07:00 AM
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OnDeck announced it is partnering with a top SBA lender to serve small business owners seeking funding under the Small Business Administration’s (SBA) Paycheck Protection Program (PPP). “OnDeck recognizes that operating a small business during the...
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April 14, 2020, 07:15 AM
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OnDeck announced the appointment of Mark Torossian as Senior Vice President, Finance, a newly created role that will oversee the organization's accounting and financial planning & analysis (FP&A) functions. “I am pleased to welcome Mark to OnDeck in...
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March 09, 2020, 07:16 AM
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OnDeck announced the appointment of Linda Tan as Vice President and Head of Internal Audit. Tan will oversee the company's Internal Audit team and deliver independent, objective assurance and advisory audit services that align with OnDeck strategies...
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February 04, 2020, 06:00 AM
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OnDeck announced the appointment of Scott Totman as the company's Chief Product and Technology Officer. In the role, Totman oversees the company's engineering, product and design organizations with a focus on building the next generation of...
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January 22, 2020, 07:23 AM
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Investors Bancorp announced that its banking subsidiary Investors Bank formed an alliance with ODX, a leading digital small business originations platform and a subsidiary of On Deck Capital, Inc. Investors Bank will deploy ODX's digital loan...
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October 21, 2019, 07:15 AM
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OnDeck announced the appointment of Lonnie Hayes as the Head of Sales and Strategy for ODX, a wholly owned subsidiary of OnDeck that assists banks with streamlining and digitizing small business credit origination. Hayes brings more than 30 years of...
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July 25, 2019, 07:14 AM
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OnDeck and Upserve, a leading restaurant management platform, announced a partnership to provide Upserve's restaurant customers with online financing options from OnDeck. Over 10,000 restaurants currently use Upserve's restaurant management platform...
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July 17, 2019, 07:21 AM
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Coast Capital Savings, Canada's largest credit union by membership, and OnDeck Canada, announced an innovative partnership aimed at accelerating online lending to Coast Capital small business members. Beginning this month, Coast Capital small...
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July 11, 2019, 07:12 AM
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OnDeck announced the appointment of Deb Stroff as the company's Chief People Officer. will be responsible for leading all aspects of people strategy, including overseeing organizational design, total rewards, talent management, recruiting, leadership...
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May 13, 2019, 07:19 AM
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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. Forty-one percent of small businesses expect...
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April 09, 2019, 07:00 AM
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OnDeck announced it 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...
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April 08, 2019, 07:00 AM
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OnDeck announced it has completed the transaction combining its Canadian operations with Evolocity Financial Group, a Montréal-based online small business lender. The combined companies are majority owned by OnDeck.The successful transaction combines...
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April 02, 2019, 07:15 AM
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OnDeck announced extensions to its existing credit facilities with Credit Suisse and Deutsche Bank on improved terms. The amended facilities provide an aggregate of $360 million of committed funding capacity and are available to finance OnDeck's term...
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March 13, 2019, 07:21 AM
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OnDeck announced the hiring of three senior financial services executives as members of its management teams in Risk, Partnerships and Marketing.The new executives are: RiskChris McCall has joined OnDeck as Head of Acquisition Risk Management with...
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February 15, 2019, 07:30 AM
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OnDeck announced the closing of an $85 million corporate revolving credit facility with a lender group consisting of four banks. The new committed facility can be used for general corporate purposes and replaces OnDeck's prior $30 million corporate...
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February 07, 2019, 07:26 AM
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PNC Bank announced that in 2019 it plans to begin offering fully digital business lines of credit, up to $100,000, in an expansion of its online lending to customers and prospects in the United States.PNC’s new digital product brings together one of...
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October 23, 2018, 07:25 AM
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OnDeck announced the company will appoint Kenneth A. Brause as its Chief Financial Officer effective March 26, as part of a mutually agreed upon transition process between the company and current Chief Financial Officer, Howard Katzenberg. Katzenberg...
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March 13, 2018, 07:30 AM
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OnDeck announced the hiring of two senior financial services executives to join its management team. Kelly Merrill and Erich Wust will assume new leadership roles that directly support OnDeck's mission of empowering small business owners with the...
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December 12, 2017, 07:19 AM
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OnDeck announced third quarter 2017 financial results and affirmed that the Company is on track to achieve GAAP profitability in the fourth quarter of 2017."OnDeck's third quarter performance demonstrated tangible progress on our strategic priorities...
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November 06, 2017, 07:02 AM
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OnDeck announced agreements with Ingo Money and Visa to enable real-time funding of loans to small businesses via their debit cards, powered by Visa Direct. OnDeck will be the first company in the online lending industry to offer real-time access to...
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October 31, 2017, 06:54 AM
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In 2007, the first online loans from OnDeck to small businesses in the United States created a new type of commercial lender, one that believed the Internet could revolutionize how small business owners access capital. Today, OnDeck celebrates a...
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September 01, 2017, 07:17 AM
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Patricia M. Voorhees, a director with The Alta Group, is moderating a panel June 13 at the Commercial Equipment Market Council (CEMC) Innovation Summit in Laguna Beach, Calif., on digitization in asset finance. The panelists will discuss how...
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June 12, 2017, 07:05 AM
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The Innovative Lending Platform Association (ILPA) and the Coalition for Responsible Business Finance (CRBF) announced they are joining forces and will now operate as the ILPA – the leading trade organization representing a diverse group of online...
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March 06, 2017, 07:10 AM
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Wave, a leading provider of financial services and software for small businesses, and OnDeck® announced a partnership in which Wave will offer OnDeck business loans and lines of credit to its customer base. The new offering, "Lending by Wave," will...
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February 13, 2017, 07:00 AM
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Bizfi, the premier fintech company with a platform that combines aggregation, funding and a marketplace on a single platform for small businesses, announced that it has surpassed $2 billion in financing – through both growth and working capital – to...
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December 23, 2016, 07:15 AM
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Bizfi announced they have originated more than $127 million in financing in the third quarter of 2016. The top sectors seeking financing through the Bizfi marketplace include manufacturing, retail, business-to-consumer (B2C) services (i.e. daycare...
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November 23, 2016, 06:08 AM
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Bizfi announced an increase of 25 percent in year-over-year small business lending originations in the second quarter of 2016. This totals in excess of $144 million, compared to $116 million in Q2 2015. The company either directly originated...
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August 17, 2016, 07:05 AM
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The National Directory of Registered Tax Return Preparers & Professionals (PTIN) has selected fintech company Bizfi to provide its tax professionals, accountants, CPAs and their small business clients with access to funding through its aggregation...
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July 21, 2016, 07:05 AM
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Metropolitan Equity Partners (“Metropolitan”) announced it has invested $20M in Bizfi.This investment represents an increase from the $65M financing of the Company in December. This round of financing will enable Bizfi to:
Expand its suite of...
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June 30, 2016, 07:00 AM
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OnDeck®, announced that Daniel S. Henson was elected to its Board of Directors effective June 2, 2016. Mr. Henson brings nearly 30 years of experience from General Electric Company (GE), where he held a variety of senior positions at GE and General...
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June 07, 2016, 07:06 AM
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Bizfi announced it originated more than $144 million in financing to 3,605 small businesses in the first quarter of 2016. This is a record in originations for any one quarter, resulting in a 49 percent year-over-year increase over the $96 million...
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May 18, 2016, 07:14 AM
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Bizfi announced it originated over $142 million in business financing in the fourth quarter of 2015 - a record for any one quarter since the founding of the company and launch of the platform.Bizfi and its proprietary marketplace and funding...
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February 10, 2016, 07:00 AM
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OnDeck announced a major expansion of its product suite. The company now offers the online lending industry's widest range of term loans and lines of credit, designed to meet the vast and varied financing needs of small businesses.Small business...
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October 21, 2015, 07:10 AM
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Global investment into the new FinTech or financial technology sector is booming in a big way. In 2014, the FinTech industry reached more than $12 billion in investment. Investors include major banks like Citi, Wells Fargo and Bank of America....
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October 08, 2015, 07:10 AM
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Intuit is partnering with OnDeck to launch the new QuickBooks Financing Line of Credit to provide faster access to lower-rate small business loans. This first-of-its-kind financing solution enables small businesses to use their QuickBooks Online data...
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September 18, 2015, 07:16 AM
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Merchant Cash and Capital announced that MCC has transformed into Bizfi, an online lending and aggregation platform. Due to the success of Bizfi.com, launched earlier this year, Merchant Cash and Capital is completing its operational and brand...
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September 16, 2015, 07:14 AM
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OnDeck released a significant economic impact report that shows an estimated $3.4 billion in business activity and 22,000 jobs created from its small business loans to date.The goal of the study, which was conducted by top economic consulting firm...
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May 30, 2014, 06:55 AM
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OnDeck unveiled its new loan product called OnDeck Term 24 to better serve the increasing needs of established small businesses nationwide. This new term loan is the first-of-its-kind on the market. Qualified businesses can quickly and seamlessly...
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February 20, 2014, 06:25 AM
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