OnDeck Canadian Operations to Merge with Evolocity

Online lender OnDeck entered into a definitive agreement to combine its Canadian lending operations with Evolocity Financial Group, a private, Montréal-based online small business lender.

PNC, OnDeck Partner to Launch Digital Business Lending Platform

PNC Bank plans to begin offering fully digital business lines of credit, up to $100,000, in 2019 in an expansion of its online lending to customers and prospects in the U.S. PNC is partnering with fintech lender OnDeck to develop the new platform.

OnDeck Creates ODX to Help Small Banks Digitize Services

OnDeck launched 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 with Brian Geary serving as president.

OnDeck Small Business Lending Tops $10B

Fintech business lender OnDeck achieved a milestone in the industry, becoming the first non-bank online lender to surpass $10 billion in total loans originated to small businesses.

OnDeck Names CIT Veteran Brause CFO

OnDeck appointed Kenneth A. Brause CFO. Brause previously worked for CIT as treasurer. Prior to that, he led the North America Banking group, including oversight of the Equipment Finance division.

OnDeck Swings to Q4 Profit on Lower Provision Charges

OnDeck reported Q4/17 net income of $5.1 million compared to a net loss of $35.9 million for the same quarter in 2016. Q4/17 provision charges of $34.4 million compared to $55.7 million for the same quarter a year earlier.