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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its existing revolving debt facility (the Bank Facility). On that
date, the Company entered into that certain Second Amendment (the
Second Amendment) to the Second Amended and Restated Loan
Agreement, dated as of June 30, 2016, by and between Pacific
Western Bank (successor by merger to Square 1 Bank), as Lender, and
the Company, as Borrower.
Facility to October 28, 2018 and also increased the credit limit
from $20 million to $30 million. The Second Amendment did not alter
or modify the Company’s option to prepay, without premium, penalty
or additional fee, any amounts owing under the Bank Facility.
to be complete and is qualified in its entirety by reference to the
Second 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.
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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 down -0.02 at 4.74 with 179,723 shares trading hands.