On Deck extends asset-backed revolver, ups commitments to $150 million

By Marisa Wong

Morgantown, W.Va., Feb. 14 – On Deck Capital, Inc.’s wholly owned subsidiary, OnDeck Asset Funding I, LLC, amended its existing asset-backed revolving debt facility to increase commitments to $150 million from $100 million, according to an 8-K filing with the Securities and Exchange Commission.

The company also amended the facility to extend the revolving commitment termination date by about six months to Feb. 14, 2019.

Ares Agent Services, LP is administrative agent.

New York-based On Deck Capital is an online platform for small business lending.

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