[MidnightAdvance]

https://www.prnewswire.com/news-rele...300694274.html

Why would they give On deck so much money when they are barely profitable? Some say because the actual Loans are very profitable, before overhead and marketing. I tried researching the OnDeck default rate, only to find conflicting, confusing numbers. Would anyone know how much does OnDeck collect from their outstanding RTR year over year?

[CreditGuy]

Their 10-K/Q filings have loss rate data. All the prospectus docs for the securitizations of the term loan product also have more in depth loss rate information on that product. This is a securitization of the LOC, so there's no prospectus and corresponding data. That you find this data conflicting and confusing is more your issue than the data's.

ONDK doesn't report RTR because they don't sell advances and RTR is an MCA metric.

As for the why the creditors are willing to fund them, it has to do with the fundamentals of the financing transaction. SPV structure, corporate guarantee, cash flow waterfall, etc. that prioritize creditor payments.

This is all pretty basic stuff.

[Nunya]

Is Midnight a funder or a broker? If a funder and not understanding of this business, that's pretty telling. CreditGuy nailed it with the following. One additional point I'd add is "advance rate".

As for the why the creditors are willing to fund them, it has to do with the fundamentals of the financing transaction. SPV structure, corporate guarantee, cash flow waterfall, etc. that prioritize creditor payments.

[mcaguru]

We are slammed today with more contracts back than I've seen in a long time!!!!!! so i dont have a lot of time today....

Remind me later and ill try to break down the Ondeck Model. I will tell you to date its clear that WallStreet does not see much value in the model* (strictly based on how they price the market capitalization of the firm its been trading on average in the 300M-600M range most of the year. ). (* in my opinion).

[MidnightAdvance]

Is Midnight a funder or a broker? If a funder and not understanding of this business, that's pretty telling. CreditGuy nailed it with the following. One additional point I'd add is "advance rate".

I said RTR as a term to reference the "outstanding debt".. so say they lend $100 @ an average of $130, how much of that $130 comes back collected year over year? (In plain English)

[MidnightAdvance]

Their 10-K/Q filings have loss rate data. All the prospectus docs for the securitizations of the term loan product also have more in depth loss rate information on that product. This is a securitization of the LOC, so there's no prospectus and corresponding data. That you find this data conflicting and confusing is more your issue than the data's.

ONDK doesn't report RTR because they don't sell advances and RTR is an MCA metric.

As for the why the creditors are willing to fund them, it has to do with the fundamentals of the financing transaction. SPV structure, corporate guarantee, cash flow waterfall, etc. that prioritize creditor payments.

This is all pretty basic stuff.

Well if you understand it so well, why don't you give us a bottom line number? (Say they put out a Billion $$ in 2016 and the payback was $1.3 Billion, how much of that $1.3 Billion actually came back??)

[CreditGuy]

they lend $100 @ an average of $130, how much of that $130 comes back collected year over year? (In plain English)

Plainer English: That's called a "loss rate."

[CreditGuy]

Well if you understand it so well, why don't you give us a bottom line number? (Say they put out a Billion $$ in 2016 and the payback was $1.3 Billion, how much of that $1.3 Billion actually came back??)

You seem to need the practice doing math more than I do.

[MidnightAdvance]

Plainer English: That's called a "loss rate."

Ok well what's the number?

[ldash]

https://investors.ondeck.com/press-a...s/default.aspx

"while the Provision Rate of 5.7% decreased from both periods."

It's really not that hard to look up.

[MidnightAdvance]

https://investors.ondeck.com/press-a...s/default.aspx

"while the Provision Rate of 5.7% decreased from both periods."

It's really not that hard to look up.

Still does not answer the question. (Instead of giving us links and buzz words, can you answer the question with factual numbers?)

[CreditGuy]

Still does not answer the question. (Instead of giving us links and buzz words, can you answer the question with factual numbers?)

Nobody is going to do your homework for you. You're ostensibly an adult, so I would suggest you figure it out for yourself.

[BROKER TIME]

Still does not answer the question. (Instead of giving us links and buzz words, can you answer the question with factual numbers?)

why do we care about ondeck so much are you trying to follow there business model? no so move on and fund like you've never funded before

[Nunya]

Still does not answer the question. (Instead of giving us links and buzz words, can you answer the question with factual numbers?)

It does answer the exact question you asked. Their provision rate is the net loss rate they're estimating in that period to ensure they have an adequate reserve against their AR on the balance sheet.

[WestCoastFunding]

Ondeck hasn't filed a single COJ in NY!

They're not real.

[BROKER TIME]

Ondeck hasn't filed a single COJ in NY!

They're not real.

lol good one!!!!

[LYC]

ondeck hasn't filed a single coj in ny!

They're not real.

lmaooooo

[MidnightAdvance]

lmaooooo

Farmers capital is happy to accept all your ONDECK paper.

[mcaguru]

On Deck Capital Inc
NYSE: ONDK
8.49 USD −0.46 (5.14%)

seems like its giving back some of the gains.

[LYC]

Farmers capital is happy to accept all your ONDECK paper.

i'm sure they would, but instead of sending it to a chop shop like them I'd rather fund it with On Deck. Why the hostility?