From Fringe to Mainstream: The 2019 Fintech Roundtable

As fintech companies start counting their birthdays in the double-digits, both traditional lenders and regulatory bodies have had to accept the world rapid online lending has created. Ken Brause of OnDeck, Eyal Lifshitz of BlueVine and Sebastian Rymarz of Fundbox sat down with ABF Journal to take stock of the past decade or so in the fintech world, discuss some of the changes seen in 2018 and speculate on what the future may hold for the industry.

BBVA Vet Hayes Joins OnDeck to Lead ODX Sales & Strategy

OnDeck has appointed Lonnie Hayes as its head of Sales and Strategy for ODX, a wholly owned subsidiary of OnDeck that assists banks with streamlining and digitizing small business credit origination.

OnDeck Names Stroff Chief People Officer

Online lender OnDeck appointed Deb Stroff chief people officer. Stroff will be responsible for leading all aspects of people strategy, including overseeing organizational design, talent management, recruiting, leadership development and learning.

OnDeck Survey: Small Business Owners Mixed On Tax Cut Benefits

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.

Credit Suisse, Deutsche Extend Revolvers for OnDeck

OnDeck extended its existing credit facilities with Credit Suisse and Deutsche Bank on improved terms.

OnDeck Names All Clear Plumbing February Small Business of the Month

Online lender OnDeck named All Clear Plumbing its Small Business of the Month for February 2019. The nine-person company is the first small business in the State of New Jersey to receive the OnDeck award.

OnDeck Hires Three Experienced Risk, Partnerships & Marketing Execs

Online small business lender OnDeck hired Chirs McCall as head of Acquisition Risk Management, Gregory Johnson as the senior vice president of Business Development and Matt Cluney as vice president of Brand and Product Marketing.

OnDeck Sees $27.7MM Net Income in 2018

OnDeck announced fourth quarter 2018 net income of $14 million, an increase from $9.8 million from the previous quarter. The company’s full year 2018 net income of $27.7 million was significantly improved from its net loss of $11.5 million in 2017.

OnDeck Receives $85MM Revolver Arranged by SunTrust, SVB

Small business online lender OnDeck closed an $85 million corporate revolving credit facility. SunTrust Bank and Silicon Valley Bank served as arrangers on the facility, while MB Financial Bank and Congressional Bank joined them as lenders.

SunTrust Agents $199.7MM Amended Facility for OnDeck

OnDeck amended and restated its existing $119.7 million asset-backed revolving debt facility with SunTrust Bank as administrative agent and Wells Fargo as paying agent and collateral agent.