On Deck Capital Inc. (NYSE:ONDK) amended its existing second amended and restated revolving debt facility (the “Bank Facility”) as described below. On that date, the Company entered into that certain First Amendment to the Second Amended and Restated Loan Agreement (the “Loan Agreement Amendment”) with Pacific Western Bank (successor by merger to Square 1 Bank), as Lender (“Lender”). The Loan Agreement Amendment amends the Second Amended and Restated Loan and Security Agreement (the “Loan Agreement”), dated as of June 30, 2016, between the Lender and the Company, as Borrower. The Loan Agreement Amendment provides for the extension of the maturity date of the Bank Facility by ninety (90) days to January 28, 2017. The Loan Agreement Amendment was entered into to provide the Company and the Lender flexibility to negotiate a proposed longer term extension of the Bank Facility.
The foregoing description of the Loan Agreement Amendment does not purport to be complete and is qualified in its entirety by reference to the Loan Agreement Amendment, which will be filed as an exhibit to the Company’s Annual Report on Form 10-K for the year ending December 31, 2016.