[Chambo]

"The significant drop in share price came after news reports of rising default rates in On Deck's loan portfolios and declining value of its business model. The Company is now reportedly losing tens of millions of dollars through defaults on its loans, likely due to the company's reliance on stated income and data from third-party sources, which may contain inaccuracies."

[MCNetwork]

"The Company is now reportedly losing tens of millions of dollars through defaults on its loans, likely due to the company's reliance on stated income and data from third-party sources, which may contain inaccuracies."

That and the fact that they can approve a merchant for funding based on one or two bank statements with no regard to seasonality and other common sense factors.

[Michael I]

That and the fact that they can approve a merchant for funding based on one or two bank statements with no regard to seasonality and other common sense factors.

I had a merchant that got money from iOu , Everest/Yellowstone and wall taking out about 26 percent of growth . Rough but not terrible. 2 weeks later on deck funds him pulling 30 percent of growth ( if you look at a full year ) now merchant is paying 56 percent there is no way this guy won't default.
They don't ask for the recent statements and I guess those 3 companies don't file ucc .crazy