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OnDeck’s Streak of Profitable Quarters Comes to an End

OnDeck’s Streak of Profitable Quarters Comes to an End

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FintechNews RoundupUSA
··1 min read

OnDeck lost $59mn in Q1 2020 as their streak of seven straight quarters of profitability came to an end; the company has seen loans in some stage of delinquency rise from 11 percent at the end of 2019 to 45 percent by the end of April; 40 percent of those delinquent have made at least a partial payment within the last seven days; OnDeck expects to cut originations by 80 percent in Q2 and has stopped originations all together to certain industries; “Internally, our top focus is liquidity and capital preservation,” OnDeck CEO Noah Breslow said to American Banker. American Banker

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.

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