| Market Capitalization (Millions $) |
- |
| Shares
Outstanding (Millions) |
60 |
| Employees |
638 |
| Revenues (TTM) (Millions $) |
175 |
| Net Income (TTM) (Millions $) |
-48 |
| Cash Flow (TTM) (Millions $) |
53 |
| Capital Exp. (TTM) (Millions $) |
10 |
Business Description
On Deck Capital Inc. is an online small business lender that provides financing to small and medium-sized businesses in the United States, Canada, and Australia. The company specializes in providing loans of up to $500,000 to businesses that have a limited credit history or have been denied credit by traditional banks.
On Deck Capital was founded in 2006 by Mitch Jacobs, who served as the company's CEO until 2018. Since then, the company has been led by CEO Noah Breslow. On Deck Capital has its headquarters in New York City, and the company went public on the New York Stock Exchange in 2014.
On Deck Capital reviews loan applications using proprietary software that analyzes business performance metrics and other information to evaluate the creditworthiness of a company. This approach provides On Deck Capital the ability to make credit decisions within minutes, rather than the weeks or months that traditional banks might take.
On Deck Capital offers a range of financing products, including term loans, lines of credit, and equipment financing. The company's loans have repayment terms ranging from three to 36 months, and interest rates that range from 9% to 99%. On Deck Capital also charges origination fees of between5% and 4%.
One of the unique features of On Deck Capital is its partnership with JPMorgan Chase. The partnership allows Chase to offer access to On Deck's online lending platform to its small business customers. The partnership has been seen as a significant move for On Deck and a way to reach more small businesses that might not have been able to access On Deck's financing products.
Since its inception, On Deck Capital has provided over $10 billion in financing to more than 100,000 small businesses across the United States, Canada, and Australia. The company has received positive reviews for its quick approval process, and for its willingness to work with small businesses that might not have been able to access financing from traditional banks. However, On Deck Capital has also faced criticism for its high-interest rates, which can be significantly higher than rates offered by traditional banks.
In summary, On Deck Capital Inc. is an innovative online lender that provides financing solutions to small and medium-sized businesses across the United States, Canada, and Australia. Although the company has faced some criticism regarding its high interest rates, it has helped thousands of businesses to access the finances they need to succeed. On Deck Capital's partnership with JPMorgan Chase also indicates its strong position in the lending industry.
Company Address: 1400 Broadway New York 10018 NY
Company Phone Number: 269-4246 Stock Exchange / Ticker: NYSE ONDK
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