Type Public
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Industry Finance
Genre Financial Technology
Founded 2006
Founder Mitch Jacobs
What happened to OnDeck?
OnDeck, the once highflying online lender, is being sold to Enova in what amounts to a fire sale. OnDeck, the once highflying online lender that fell on tough times made worse by the COVID-19 pandemic, is being sold to Enova ENVA -0.9% International for about $90 million.Jul 29, 2020
Who owns OnDeck?
Enova International
Does OnDeck report to credit bureaus?
OnDeck reports to three of the major business credit bureaus—Experian, Equifax, and Paynet—so any future lender can see your good business credit profile if you make timely payments and pay down the loan in full.
Who bought OnDeck capital?
Enova International Inc.
Is OnDeck private or public?
Type Public
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Traded as NYSE: ONDK Russell 2000 Component
Industry Finance
Genre Financial Technology
Founded 2006
When did Enova buy OnDeck?
OnDeck joins the Enova family As you may recall, OnDeck announced in July that it was being acquired by Enova to increase access to innovative financial products and services for both businesses and consumers. On October 13th, we successfully closed the transaction between our two companies.
Does OnDeck conduct credit checks?
After you submit the application, OnDeck conducts a soft credit check. This doesn't lower your credit score like a hard inquiry does.
How do you qualify for OnDeck?
- Has been in business 3+ years.
- Has a business annual revenue of $300,000+
- Has a personal FICO score of 650+
What are the terms length of time for repayment for the loan for OnDeck?
What are your loan amounts and terms? OnDeck offers Term Loans from $5,000 – $500,000 over 3-36 months. we offer Lines of Credit from $6,000 – $100,000 with payback on draws up to 12 months. (The lines of credit are revolving, so as you pay it back your available funds increase.)
How much can you borrow from a loan company?
How much of a business loan you can get is primarily a function of your business's annual gross sales, existing debt, and creditworthiness. Most lenders won't lend more than 10% to 30% of a business's annual revenue. Your company should be cash flow positive after accounting for all debt payments.Sep 9, 2020