[dailyfunderppt]

Anyone else getting this update?

[Kevin Henry-Seacoast]

Anyone else getting this update?

https://www.americanbanker.com/news/...quencies-mount

[dailyfunderppt]

thx

[J.Celifarco]

Anyone else getting this update?

yep just received

[Jess]

yep just received

Those earnings. Tough haul to restructure....

[Kevin Henry-Seacoast]

With little to no new origination and a book that is going sideways makes it tough to recover.

[Drewfus]

Not a surprise- but also it seems like they are "shifting their focus to PPP for now"
I except a few more household names to "pause/stop funding" in the next 30 days.

I also see funders new and old getting back on line in that timeline as well.

[RichFunded LLC]

Well, this may have an explanation for that

95537373_246828926696942_2780357382692143104_n.jpg

[Steven_O]

How long will this last? Didn't funds for PPP already pass 60B as of Tuesday? How long will they service that? Could it be a last cash grab?? Should stock holders be happy that the loans Ondeck is originating are backed by the government, no?)

Ondeck does have the upper hand with technology that helps underwrite. Speed to Deliver results to PPP customers and a good PR/Marketing could do well for them.

But I'm an optimist... what do I know.

[Kevin Henry-Seacoast]

How long will this last? Didn't funds for PPP already pass 60B as of Tuesday? How long will they service that? Could it be a last cash grab?? Should stock holders be happy that the loans Ondeck is originating are backed by the government, no?)

Ondeck does have the upper hand with technology that helps underwrite. Speed to Deliver results to PPP customers and a good PR/Marketing could do well for them.

But I'm an optimist... what do I know.

Steve O,

The amount of fees earned from PPP if any is like throwing a deck chair off the Queen Mary.

[Steven_O]

Steve O,

The amount of fees earned from PPP if any is like throwing a deck chair off the Queen Mary.

Agreed, no one is making money... but the question for me remains: what's the play??

[Kevin Henry-Seacoast]

Agreed, no one is making money... but the question for me remains: what's the play??

We are..... There are other capital markets tools for customers to use in environments like this.

[FlexibleCapitalSolutions]

We are..... There are other capital markets tools for customers to use in environments like this.

examples?

[Yankeeman07]

examples?

SBA 7(a) Loans - If anyone is going to stay in the lending game - need to focus on the clients
that are on the "A" list. For those that qualify, long-term funding at a decent interest rate or
the ability to take advantage of an opportunity to purchase commercial property.

IMO - Time to pursue a different type of client, not Mom & Pop Main Street Retail Businesses.

[capaxess]

How long will this last? Didn't funds for PPP already pass 60B as of Tuesday? How long will they service that? Could it be a last cash grab?? Should stock holders be happy that the loans Ondeck is originating are backed by the government, no?)

Ondeck does have the upper hand with technology that helps underwrite. Speed to Deliver results to PPP customers and a good PR/Marketing could do well for them.

But I'm an optimist... what do I know.

I saw an interesting item in the Debanked article regarding Ondeck today; they spent over $70M buying back their own stock in the 1st quarter and have another $23M authorized but not yet purchased.

I guess management sees something down the line of value that's clearly not visible to broader market right now.

[fundingsmbs]

In the near term, the stock price may rise because shareholders know that a buyback will immediately boost earnings per share