[Sean Cash]

I'm bullish on ONDK. Now that they're transitioning from balance sheet lender to marketplace lender (aka broker), they're going to finally become profitable. And they're new ISO vetting process eliminated all their unsavory partners so they'll see an uptick in the quality of their paper.

The funny thing is that two VPs at Goldman Sachs predicted at the recent Marketplace Lending and Investing Conference that the industry would trend away from marketplaces to "on-balance sheet" lending because that was the better model. But the marketplace model rocks so long as you are one of the few companies that will come to dominate the space. I think you can have a functioning industry with 100 lenders but you can't have 100 marketplaces, so everyone beyond the handful of frontrunners in the marketplace world will indeed have to become a balance sheet lender.