On Deck Capital, Inc. (NYSE:ONDK) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
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Entry into a Material Definitive Agreement.
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wholly-owned subsidiary of On Deck Capital, Inc. (the Company),
amended its existing asset-backed revolving debt facility as
described below. On that date, ODAF I entered into that certain
amendment (the ODAF I Facility Amendment) by and among ODAF I, as
Borrower, the Lenders party thereto from time to time, and Ares
Agent Services, L.P., as Administrative Agent for the Lenders. The
ODAF I Facility Amendment amends the credit agreement (the ODAF I
Credit Agreement), dated as of August 19, 2016, by and among ODAF
I, as Borrower, the Lenders party thereto from time to time, Ares
Agent Services, L.P., as Administrative Agent for the Lenders and
Collateral Agent for the Secured Parties, and Wells Fargo Bank,
N.A., as Paying Agent.
amount of $100 million to $150 million;
approximately six months to February 14, 2019; and
purport to be complete and is qualified in its entirety by
reference to the ODAF I Facility Amendment, which will be filed as
an exhibit to the Company’s Quarterly Report on Form 10-Q for the
quarter ending March 31, 2017.
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Item 2.03
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Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
Form 8-K is incorporated herein by reference.
About On Deck Capital, Inc. (NYSE:ONDK)
On Deck Capital, Inc. offers an online platform for small business lending. The Company’s platform aggregates and analyzes data points from disparate data sources to assess the creditworthiness of small businesses. Small businesses apply for a term loan or line of credit on the Company’s Website, and using its OnDeck Score, the Company makes a funding decision and transfers the funds. It offers a financing solution for small businesses, including short-term loans of over 10 months and long-term loans of over 40 months, and lines of credit. The Company’s integrated platform includes the Company’s Website, which allows small businesses to apply for a loan, round the clock; data and analytics engine, which analyzes data attributes from disparate sources to assess the real-time creditworthiness of a small business; the technology, which offers funding of loans, and daily and weekly collections, and ongoing servicing system. On Deck Capital, Inc. (NYSE:ONDK) Recent Trading Information
On Deck Capital, Inc. (NYSE:ONDK) closed its last trading session up +0.09 at 5.69 with 311,559 shares trading hands.