On Deck Capital (ONDK) 10-Q 13 May 15 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information Document	3 Months Ended
	Mar. 31, 2015	Apr. 30, 2015
Document And Entity Information [Abstract]
Entity Registrant Name	On Deck Capital Inc
Entity Central Index Key	1420811
Current Fiscal Year End Date	-19
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Amendment Flag	FALSE
Entity Common Stock, Shares Outstanding		69,519,098

Unaudited_Condensed_Consolidat

Unaudited Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Assets
Cash and cash equivalents	$168,202	$220,433
Restricted cash	26,052	29,448
Loans	556,421	504,107
Less: Allowance for loan losses	-56,795	-49,804
Loans, net of allowance for loan losses	499,626	454,303
Loans held for sale	2,697	1,523
Deferred debt issuance costs	4,693	5,374
Property, equipment and software, net	15,386	13,929
Other assets	9,105	4,622
Total assets	725,761	729,632
Liabilities:
Accounts payable	4,932	4,360
Interest payable	781	819
Debt	398,390	399,928
Accrued expenses and other liabilities	14,790	13,920
Total liabilities	418,893	419,027
Commitments and contingencies
Stockholders’ equity:
Common stock—$0.005 par value, 1,000,000,000 shares authorized and 69,401,170 and 69,031,719 shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively	362	360
Treasury stock—at cost	-5,842	-5,656
Additional paid-in capital	444,759	442,969
Accumulated deficit	-132,411	-127,068
Total stockholders’ equity	306,868	310,605
Total liabilities and stockholders’ equity	725,761	729,632
Funding Debt [Member]
Liabilities:
Debt	398,390	387,928
Corporate Debt [Member]
Liabilities:
Debt	$0	$12,000

Unaudited_Condensed_Consolidat1

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	69,401,170	69,031,719
Common stock, shares outstanding	69,401,170	69,031,719

Unaudited_Condensed_Consolidat2

Unaudited Condensed Consolidated Statements of Operations (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Revenue:
Interest income	$48,699	$26,348
Gain on sales of loans	6,679	1,343
Other revenue	1,080	871
Gross revenue	56,458	28,562
Cost of revenue:
Provision for loan losses	23,101	16,579
Funding costs	5,045	4,640
Total cost of revenue	28,146	21,219
Net revenue	28,312	7,343
Operating expense:
Sales and marketing	12,675	6,361
Technology and analytics	8,587	2,909
Processing and servicing	2,703	1,609
General and administrative	9,584	3,392
Total operating expense	33,549	14,271
Loss from operations	-5,237	-6,928
Other expense:
Interest expense	-106	-157
Warrant liability fair value adjustment	0	-6,632
Total other expense	-106	-6,789
Loss before provision for income taxes	-5,343	-13,717
Provision for income taxes	0	0
Net loss	-5,343	-13,717
Accretion of dividends on redeemable convertible preferred stock	0	-2,605
Net loss attributable to common stockholders	($5,343)	($16,322)
Net loss per common share:
Net loss per common share, basic and diluted	($0.08)	($3.47)
Weighted-average common shares outstanding:
Weighted-average common shares outstanding, basic and diluted	69,249,462	4,707,867

Unaudited_Condensed_Consolidat3

Unaudited Condensed Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities
Net loss	($5,343)	($13,717)
Adjustments to reconcile net loss to net cash provided by operating activities:
Provision for loan losses	23,101	16,579
Depreciation and amortization	1,378	878
Amortization of debt issuance costs	688	667
Stock-based compensation	2,042	233
Warrant liability fair value adjustment	0	6,632
Amortization of net deferred origination costs	9,275	5,572
Provision for unfunded loan commitment	438	32
Common stock warrant issuance	0	64
Changes in operating assets and liabilities:
Other assets	-4,483	-565
Accounts payable	2,172	-336
Interest payable	-38	-163
Accrued expenses and other liabilities	117	183
Originations of loans held for sale	-93,926	-31,011
Sales of loans held for sale	92,059	29,351
Repayments of term loans held for sale	693	338
Net cash provided by operating activities	28,173	14,737
Cash flows from investing activities
Change in restricted cash	3,396	-2,025
Purchases of property, equipment and software	-1,606	-1,509
Capitalized internal-use software	-1,069	-519
Originations of term loans and lines of credit, excluding rollovers into new originations	-262,563	-167,627
Capitalized net deferred origination costs	-9,246	-8,465
Principal repayments of term loans and lines of credit	194,108	95,175
Net cash used in investing activities	-76,980	-84,970
Cash flows from financing activities
Proceeds from exercise of stock options	150	179
Payments of initial public offering costs	-1,845	0
Redemption of common stock	-184	0
Proceeds from the issuance of redeemable convertible preferred stock	0	77,000
Proceeds from the issuance of funding debt	36,865	79,298
Payments of debt issuance costs	-7	-4
Net cash (used in) provided by financing activities	-3,424	87,671
Net increase (decrease) in cash and cash equivalents	-52,231	17,438
Cash and cash equivalents at beginning of period	220,433	4,670
Cash and cash equivalents at end of period	168,202	22,108
Supplemental disclosure of other cash flow information
Cash paid for interest	4,234	4,067
Supplemental disclosures of non-cash investing and financing activities
Stock-based compensation included in capitalized internal-use software	160	20
Unpaid principal balance of term loans rolled into new originations	59,488	28,712
Accretion of dividends on redeemable convertible preferred stock	0	2,605
Funding Debt [Member]
Cash flows from financing activities
Repayment of debt	-26,403	-56,802
Corporate Debt [Member]
Cash flows from financing activities
Repayment of debt	($12,000)	($12,000)

Organization

Organization	3 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization
	On Deck Capital, Inc.’s principal activity is providing financing products to small businesses located throughout the United States and Canada, including term loans (typically three to twenty-four months in duration for $5,000 to $250,000) and lines of credit. We use technology and analytics to aggregate data about a business and then quickly and efficiently analyze the creditworthiness of the business using our proprietary credit scoring model.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies
	Basis of Presentation and Principles of Consolidation
	We prepare our condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying unaudited condensed consolidated financial statements include all of our accounts as well as the accounts of our wholly-owned subsidiaries: Small Business Asset Fund 2009 LLC ("SBAF"), SBLP II LLC ("SBLP II"), OnDeck Account Receivables Trust 2013-1 LLC ("ODART"), On Deck Asset Company LLC ("ODAC"), OnDeck Asset Securitization Trust LLC ("ODAST"), and OnDeck Asset Pool, LLC ("ODAP"). All intercompany transactions and accounts have been eliminated in consolidation.
	Interim Condensed Consolidated Financial Information
	The accompanying unaudited condensed consolidated financial statements and footnotes have been prepared in accordance with U.S. GAAP as contained in the Financial Accounting Standards Board (‘‘FASB’’) Accounting Standards Codification (“ASC”) for interim financial information. The results of operations for the three months ended March 31, 2015 are not necessarily indicative of the results for the full year or the results for any future periods. These unaudited condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements, including the related notes, and the other information contained in our Annual Report on Form 10-K for the year ended December 31, 2014.
	Use of Estimates
	The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts in the condensed consolidated financial statements and accompanying notes. Significant estimates include allowance for loan losses, valuation of warrants, stock-based compensation expense, servicing assets/liabilities, capitalized software development costs, the useful lives of long-lived assets and valuation allowance for deferred tax assets. We base our estimates on historical experience, current events and other factors we believe to be reasonable under the circumstances. These estimates and assumptions are inherently subjective in nature; actual results may differ from these estimates and assumptions.
	Loans and Loans Held for Sale
	Loans
	We originate term loans and lines of credit (collectively, “loans”) that are generally short term in nature, and require daily or weekly repayments. When we originate a term loan, the borrower grants us a security interest in its assets. We may or may not perfect our security interest by publicly filing a financing statement. Loans are carried at amortized cost, reduced by a valuation allowance for loan losses estimated as of the balance sheet dates. In accordance with ASC Subtopic 310-20, Nonrefundable Fees and Other Costs, the amortized cost of a loan is equal to the unpaid principal balance, plus net deferred origination costs. Net deferred origination costs are comprised of certain direct origination costs, net of all loan origination fees received. Loan origination fees include fees charged to the borrower related to origination that increase the loan’s effective interest yield. Direct origination costs in excess of loan origination fees received are included in the loan balance and amortized over the term of the loan using the effective interest method. Loan origination costs are limited to direct costs attributable to originating a loan, including commissions and personnel costs directly related to the time spent by those individuals performing activities related to loan origination. Additionally, when a term loan is originated in conjunction with the extinguishment of a previously issued term loan, we determine whether this is a new loan or a modification to an existing loan in accordance with ASC 310-20. If accounted for as a new loan, rather than a modification, any remaining unamortized net deferred costs are recognized when the new loan is originated. We have both the ability and intent to hold these loans to maturity.
	Loans Held for Sale
	OnDeck Marketplace® is a program whereby we originate and sell certain term loans to third-party institutional investors and retain servicing rights. We sell these whole loans to purchasers in exchange for a cash payment. Determination to hold or sell a loan is made typically within five business days of the initial funding. Loans held for sale are recorded at the lower of cost or market until the loans are sold. Cost of loans held for sale is inclusive of unpaid principal plus net deferred origination costs.
	Because we continue to service the loans we sell, we evaluate whether a servicing asset or liability has been incurred. We estimate the fair value of the loan servicing asset or liability considering the contractual servicing fee revenue, adequate compensation for our servicing obligation, the non-delinquent principal balances of loans and projected servicing revenues over the remaining lives of the loans. As of March 31, 2015 and December 31, 2014, we serviced an unpaid principal amount of $129.9 million and $79.7 million of term loans for others, respectively, and determined that no servicing asset or liability is necessary.
	Allowance for Loan Losses
	The allowance for loan losses (“ALLL”) is established through periodic charges to the provision for loan losses. Loan losses are charged against the ALLL when we believe that the future collection of principal is unlikely. Subsequent recoveries, if any, are credited to the ALLL.
	We evaluate the creditworthiness of our portfolio on a pooled basis due to its composition of small, homogeneous loans with similar general credit risk characteristics and diversification among variables including industry and geography. We use a proprietary forecast loss rate at origination for new loans that have not had the opportunity to make payments when they are first funded. The forecasted loss rate is updated daily to reflect actual loan performance and the underlying ALLL model is updated monthly to reflect our assumptions. The allowance is subjective as it requires material estimates, including such factors as historical trends, known and inherent risks in the loan portfolio, adverse situations that may affect borrowers’ ability to repay and current economic conditions. Other qualitative factors considered may include items such as uncertainties in forecasting and modeling techniques, changes in portfolio composition, seasonality, business conditions and emerging trends. Recovery of the carrying value of loans is dependent to a great extent on conditions that may be beyond our control. Any combination of the aforementioned factors may adversely affect our loan portfolio resulting in increased delinquencies and loan losses and could require additional provisions for credit losses, which could impact future periods. In our opinion, we have provided adequate allowances to absorb probable credit losses inherent in our loan portfolio based on available and relevant information affecting the loan portfolio at each balance sheet date.
	Accrual for Unfunded Loan Commitments and Off-Balance Sheet Credit Exposures
	For our line of credit product we estimate probable losses on unfunded loan commitments similarly to the ALLL process and include the calculated amount in accrued expenses and other liabilities. We believe the accrual for unfunded loan commitments is sufficient to absorb estimated probable losses related to these unfunded credit commitments. The determination of the adequacy of the accrual is based on evaluations of the unfunded credit commitments, including an assessment of the probability of commitment usage, credit risk factors for lines of credit outstanding to these customers and the terms and expiration dates of the unfunded credit commitments. As of March 31, 2015 and December 31, 2014, our off-balance sheet credit exposure related to the undrawn line of credit balances was $39.1 million and $28.7 million, respectively. The related accrual for unfunded loan commitments was $1.7 million and $1.3 million as of March 31, 2015 and December 31, 2014, respectively. Net adjustments to the accrual for unfunded loan commitments are included in general and administrative expenses.
	Accrual for Third-Party Representations
	We have made certain representations to third parties that purchase loans through OnDeck Marketplace. Any significant estimated post-sale obligations or contingent obligations to the purchaser of the loans, such as fraudulent loan repurchase obligations or excess loss indemnification obligations, would be accrued if probable and estimable in accordance with ASC 450, Contingencies. There are no restricted assets related to these agreements. As of March 31, 2015 and December 31, 2014, we have not incurred any significant losses and or material liability for probable obligations requiring accrual.
	Revenue Recognition
	Interest Income
	We generate revenue primarily through interest and origination fees earned on loans originated and held to maturity.
	We recognize interest and origination fee revenue over the terms of the underlying loans using the effective interest method. Origination fees collected but not yet recognized as revenue are netted with direct origination costs and presented as a component of loans in our condensed consolidated balance sheets.
	Historically, borrowers who elected to prepay term loans were required to pay future interest and fees that would have been assessed had the term loan been repaid in accordance with its original agreement. Beginning in December 2014, certain term loans may be eligible for a discount of future interest and fees that would have been assessed had the loan been repaid in accordance with its original agreement.
	Gain on Sales of Loans
	In October 2013, we started OnDeck Marketplace whereby we originate and sell certain loans to third-party purchasers and retain servicing rights. We account for the loan sales in accordance with ASC Topic 860, Transfers and Servicing, which states that a transfer of a financial asset, a group of financial assets, or a participating interest in a financial asset is accounted for as a sale if all of the following conditions are met:
	1	The financial assets are isolated from the transferor and its consolidated affiliates as well as its creditors.
	2	The transferee or beneficial interest holders have the right to pledge or exchange the transferred financial assets.
	3	The transferor does not maintain effective control of the transferred assets.
	For the three months ended March 31, 2015 and 2014, all sales met the requirements for sale treatment under the guidance for ASC Topic 860, Transfers and Servicing. We record the gain or loss on the sale of a loan at the sale date in an amount equal to the proceeds received less outstanding principal and net deferred origination costs.
	Other Revenue
	We retain servicing rights on sold loans and recognize servicing revenue for servicing sold loans as a component of other revenue. For the three months ended March 31, 2015 and 2014 we earned $0.5 million and $0.1 million of servicing revenue, respectively. In accordance with ASC Topic 860, Transfers and Servicing, we have not recognized a servicing asset or liability as the benefits of servicing are just adequate to compensate us for our servicing responsibilities. Other revenue also includes marketing fees earned from our issuing bank partner, which are recognized as the related services are provided, and monthly fees charged to customers for our line of credit products.
	Stock-Based Compensation
	In accordance with ASC Topic 718, Compensation—Stock Compensation, all stock-based compensation made to employees is measured based on the grant-date fair value of the awards and recognized as compensation expense on a straight-line basis over the period during which the option holder is required to perform services in exchange for the award (the vesting period). We use the Black-Scholes-Merton Option Pricing Model to estimate the fair value of stock options. The use of the option valuation model requires subjective assumptions, including the fair value of our common stock, the expected term of the option and the expected stock price volatility based on our stock as well as our peer companies. In February 2015, we began issuing restricted stock units ("RSUs") to employees, which are measured based on the fair values of the underlying stock on the dates of grant. Additionally, the recognition of stock-based compensation expense requires an estimation of the number of options and RSUs that will ultimately vest and the number of options and RSUs that will ultimately be forfeited.
	Recent Accounting Pronouncements Not Yet Adopted
	In May 2014, the FASB issued ASU 2014-09, Revenue Recognition, which creates ASC 606, Revenue from Contracts with Customers, and supersedes ASC 605, Revenue Recognition. ASU 2014-09 requires revenue to be recognized in an amount that reflects the consideration to which the entity expects to be entitled in exchange for goods or services as described in ASU 2014-09. This accounting standard is effective for interim and annual periods beginning after December 15, 2016. We are currently assessing the impact this accounting standard will have on our consolidated financial statements.
	In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs, which amends ASC 835-30, Interest - Imputation of Interest. ASU 2015-03 requires entities to change the presentation of debt issuance costs in the financial statements. Under the ASU, an entity will be required to present such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. This accounting standard is effective beginning January 1, 2017. We are currently assessing the impact this accounting standard will have on our consolidated financial statements.

Net_Loss_Per_Common_Share

Net Loss Per Common Share	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Net Loss Per Common Share	Net Loss Per Common Share
	Basic and diluted net loss per common share is calculated as follows (in thousands, except share and per share data):
		Three Months Ended March 31,
		2015				2014
	Numerator:
	Net loss	$	(5,343	)		$	(13,717	)
	Less: Accretion of dividends on the redeemable convertible preferred stock	—				(2,605		)
	Net loss attributable to common stockholders	$	(5,343	)		$	(16,322	)
	Denominator:
	Weighted-average common shares outstanding, basic and diluted	69,249,462				4,707,867
	Net loss per common share, basic and diluted	$	(0.08	)		$	(3.47	)
	Diluted loss per common share is the same as basic loss per common share for all periods presented because the effects of potentially dilutive items were anti-dilutive given our net losses. The following common share equivalent securities have been excluded from the calculation of weighted-average common shares outstanding because the effect is anti-dilutive for the periods presented:
		March 31, 2015			December 31, 2014
	Anti-Dilutive Common Share Equivalents
	Warrants to purchase common stock	2,516,288			2,516,288
	Restricted stock units and restricted stock	418,778			88,418
	Stock options	10,105,177			10,371,469
	Total anti-dilutive common share equivalents	13,040,243			12,976,175
	The weighted average exercise price for warrants to purchase common stock was $9.51 as of March 31, 2015 and December 31, 2014.

Loans_Allowance_for_Loan_Losse

Loans, Allowance for Loan Losses and Loans Held for Sale	3 Months Ended
	Mar. 31, 2015
Receivables [Abstract]
Loans, Allowance for Loan Losses and Loans Held for Sale	Loans, Allowance for Loan Losses and Loans Held for Sale
	Loans consisted of the following as of March 31, 2015 and December 31, 2014 (in thousands):
		March 31, 2015			December 31, 2014
	Term loans	$	508,848		$	466,386
	Lines of credit	34,060			24,177
	Total unpaid principal balance	542,908			490,563
	Net deferred origination costs	13,513			13,544
	Total loans	$	556,421		$	504,107
	The activity in the allowance for loan losses for the three months ended March 31, 2015 and 2014 consisted of the following (in thousands):
		2015			2014
	Balance at January 1	$	49,804		$	19,443
	Provision for loan losses	23,101			16,579
	Loans charged off	(17,864		)	(8,696		)
	Recoveries of loans previously charged off	1,754			396
	Allowance for loan losses at March 31	$	56,795		$	27,722
	We originate most of the loans in our portfolio and also purchase loans from an issuing bank partner. During the three months ended March 31, 2015 and March 31, 2014 we purchased loans in the amount of $54.6 million and $34.0 million, respectively.
	We sell previously charged-off loans to a third-party debt collector. The proceeds from these sales are recorded as a component of the recoveries of loans previously charged off. For the three months ended March 31, 2015 and 2014, previously charged-off loans sold accounted for $1.5 million and $0.3 million of recoveries of loans previously charged off, respectively.
	The following table illustrates the loan balance related to non-delinquent, paying and non-paying delinquent loans and the corresponding allowance for loan losses as of March 31, 2015 and December 31, 2014 (in thousands):
		March 31, 2015			December 31, 2014
		Unpaid			Unpaid
		Principal			Principal
		Balance			Balance
	Non-delinquent loans	$	472,702		$	430,689
	Delinquent: paying (accrual status)	47,711			40,049
	Delinquent: non-paying (non-accrual status)	22,495			19,825
	Total	$	542,908		$	490,563
	The balance of the allowance for loan losses for non-delinquent loans was $22.5 million and $20.5 million as of March 31, 2015 and December 31, 2014, respectively, while the balance of the allowance for loan losses for delinquent loans was $34.3 million and $29.3 million as of March 31, 2015 and December 31, 2014, respectively.
	The following table shows an aging analysis of loans by delinquency status as of March 31, 2015 and December 31, 2014 (in thousands):
		March 31, 2015			December 31, 2014
	By delinquency status:
	Non-delinquent loans	$	472,702		$	430,689
	1-14 calendar days past due	24,579			23,954
	15-29 calendar days past due	10,876			9,462
	30-59 calendar days past due	12,657			10,707
	60-89 calendar days past due	10,885			7,724
	90 + calendar days past due	11,209			8,027
	Total unpaid principal balance	$	542,908		$	490,563

Debt

Debt	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Debt	Debt
	The following table summarizes our outstanding debt as of March 31, 2015 and December 31, 2014:
	Description	Type	Maturity Date	Interest Rates at March 31, 2015	31-Mar-15		31-Dec-14
					(in thousands)
	Funding Debt:
	ODAST Agreement	Securitization Facility	May-18	3.40%	$	174,974	$	174,972
	ODART Agreement	Revolving	September 2016	3.70%	99,079		105,598
	ODAC Agreement	Revolving	Oct-16	8.40%	29,541		32,733
	ODAP Agreement	Revolving	Aug-16	5.00%	75,000		56,686
	SBAF Agreement	Revolving	Various(1)	7.60%	16,313		16,740
	Partner Synthetic Participations	Term	Various(2)	Various	3,483		1,199
					398,390		387,928
	Corporate Debt:
	Square 1 Agreement	Revolving	October 2015	4.50%	—		12,000
					$	398,390	$	399,928
	___________
	-1	Maturity dates range from June 2015 through March 2017
	-2	Maturity dates range from April 2015 through March 2017

Redeemable_Convertible_Preferr

Redeemable Convertible Preferred Stock	3 Months Ended
	Mar. 31, 2015
Equity [Abstract]
Redeemable Convertible Preferred Stock	Redeemable Convertible Preferred Stock
	The following table presents a summary of activity for the preferred stock issued and outstanding for the three months ended March 31, 2014 (in thousands):
		Series A		Series B		Series C		Series C-1		Series D		Series E		Total
														Amount
	Balance, December 31, 2013	$	2,559	$	22,918	$	24,749	$	5,401	$	62,716	$	—	$	118,343
	Issuance of preferred stock	—		—		—		—		—		77,000		77,000
	Accretion of dividends on preferred stock	33		317		409		94		1,204		548		2,605
	Balance, March 31, 2014	$	2,592	$	23,235	$	25,158	$	5,495	$	63,920	$	77,548	$	197,948
	All redeemable convertible preferred stock automatically converted into shares of common stock upon close of our initial public offering in December 2014. As of March 31, 2015 we had no redeemable convertible preferred stock outstanding.

Income_Tax

Income Tax	3 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Income Tax	Income Tax
	As part of the process of preparing the unaudited condensed consolidated financial statements, we are required to estimate our income taxes in each of the jurisdictions in which we operate. This process involves determining the annual effective tax rate, income tax expense (benefit) and deferred income tax expense (benefit) related to temporary differences resulting from differing treatment of items, such as the loan loss reserve, timing of depreciation and deferred rent liabilities, for tax and accounting purposes. These differences result in deferred tax assets and liabilities, which are included within the accompanying unaudited condensed consolidated balance sheets. We must then assess the likelihood that the deferred tax assets will be recovered through the generation of future taxable income.
	We have not incurred any income tax during the three months ended March 31, 2015 and 2014 due to the book losses incurred during those periods, the anticipated and known book losses for years ended December 31, 2015 and 2014, respectively, and the significant deferred tax assets available for application should permanent and temporary differences from book income yield taxable income. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based upon the level of historical losses and projections for future taxable income over the periods in which the deferred tax assets are deductible, management believes it is more likely than not that the Company will not realize the benefits of these deductible differences in the foreseeable future. Therefore, the Company has recorded a full valuation allowance on its net deferred tax asset.

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments
	Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3)
	The following table presents the changes in the Level 3 instruments measured at fair value on a recurring basis for the three months ended March 31, 2014 (in thousands):
		2014
	Warrant liability balance at January 1	$	4,446
	Change in fair value	6,632
	Warrant liability balance at March 31	$	11,078
	For the three months ended March 31, 2015 we did not hold any Level 3 instruments measured at fair value on a recurring basis.
	Assets and Liabilities Disclosed at Fair Value
	As loans are not measured at fair value, the following discussion relates to estimating the fair value disclosure under ASC Topic 825. The fair value of loans is estimated by discounting scheduled cash flows through the estimated maturity. The estimated market discount rates used for loans are our current offering rates for comparable loans with similar terms.
	The carrying amounts of certain of our financial instruments, including loans and loans held for sale, approximate fair value due to their short-term nature and are considered Level 3. The carrying amount of our financing obligations, such as fixed-rate debt, approximates fair value, considering the borrowing rates currently available to us for financing obligations with similar terms and credit risks.

StockBased_Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation
	The following table summarizes the assumptions used for estimating the fair value of stock options granted during the three months ended March 31, 2015:
		2015
	Risk-free interest rate	1.95 - 2.13%
	Expected term (years)	6.04
	Expected volatility	42.24 - 46.51%
	Dividend yield	0%
	Weighted-average grant date fair value per share	$8.78
	The following is a summary of option activity during the three months ended March 31, 2015:
		Number of		Weighted-			Weighted-	Aggregate
		Options		Average			Average	Intrinsic
				Exercise			Remaining	Value
				Price			Contractual
							Term
							(in years)	(in thousands)
	Outstanding at January 1, 2015	10,371,472		$	4.59
	Granted	251,021		$	19.73
	Exercised	(367,421	)	$	1
	Forfeited	(136,444	)	$	3.55
	Expired	(13,451	)	$	0.65
	Outstanding at March 31, 2015	10,105,177		$	5.11		8.27	$	165,086
	Exercisable at March 31, 2015	3,279,655		$	0.82		7.23	$	67,902
	Vested or expected to vest as of March 31, 2015	9,440,461		$	4.87		8.36	$	157,175
	Stock-based compensation expense was attributed to the following line items in our accompanying unaudited condensed consolidated statements of operations for the three months ended March 31, (in thousands):
		2015			2014
	Sales and marketing	$	575		$	46
	Technology and analytics	436			49
	Processing and servicing	147			19
	General and administrative	884			119
	Total	$	2,042		$	233
	Total compensation cost related to nonvested awards not yet recognized as of March 31, 2015 was $20.5 million and will be recognized over a weighted-average period of approximately 3.28 years. The aggregate intrinsic value of employee options exercised during the three months ended March 31, 2015 was $6.1 million.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies
	Commitments
	In March 2015, we amended the lease of our New York City corporate headquarters to extend the lease and rent additional space. We will occupy the additional space incrementally, as it becomes available, at which time we will incur a proportionate amount of additional rent payments. The dates the additional space will be available are uncertain as they are dependent upon the departure of current occupants and the landlord’s ability to prepare the space.  Upon the completion of delivery of all additional space, our additional monthly fixed rent payment will be approximately $0.4 million, subject to certain scheduled increases. The amended lease also provides for rent credits aggregating $3.6 million and a tenant improvement allowance not to exceed $5.8 million. The lease will terminate ten years and ten months after the delivery of certain portions of the additional space.
	Concentrations of Credit Risk
	Financial instruments that potentially subject us to significant concentrations of credit risk consist principally of cash, cash equivalents, restricted cash and loans. We hold cash, cash equivalents and restricted cash in accounts at regulated domestic financial institutions in amounts that may exceed FDIC insured amounts. We believe these institutions to be of high credit quality, and we have not experienced any related losses to date.
	We are exposed to default risk on loans we originate and hold and that we purchase from our issuing bank partner. We perform an evaluation of each customer's financial condition and during the term of the customer's loan(s), we have the contractual right to limit a customer's ability to take working capital loans or other financing from other lenders that may cause a material adverse change in the financial condition of the customer. There is no single customer or group of customers that comprise a significant portion of our loan portfolio.
	Contingencies
	From time to time we are subject to legal proceedings and claims in the ordinary course of business. The results of such matters cannot be predicted with certainty. However, we believe that the final outcome of any such current matters will not result in a material adverse effect on our consolidated financial condition, consolidated results of operations or consolidated cash flows.

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events
	In April 2015 we entered into agreements regarding On Deck Capital Australia PTY LTD (“On Deck Australia”) with other non-affiliated investors for the purpose of providing loans to Australian small businesses. We funded our initial commitment of $8.4 million, and have a remaining commitment for up to approximately $4.2 million. We own approximately 55% of On Deck Australia.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	We prepare our condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying unaudited condensed consolidated financial statements include all of our accounts as well as the accounts of our wholly-owned subsidiaries: Small Business Asset Fund 2009 LLC ("SBAF"), SBLP II LLC ("SBLP II"), OnDeck Account Receivables Trust 2013-1 LLC ("ODART"), On Deck Asset Company LLC ("ODAC"), OnDeck Asset Securitization Trust LLC ("ODAST"), and OnDeck Asset Pool, LLC ("ODAP"). All intercompany transactions and accounts have been eliminated in consolidation.
Interim Condensed Consolidated Financial Information	The accompanying unaudited condensed consolidated financial statements and footnotes have been prepared in accordance with U.S. GAAP as contained in the Financial Accounting Standards Board (‘‘FASB’’) Accounting Standards Codification (“ASC”) for interim financial information. The results of operations for the three months ended March 31, 2015 are not necessarily indicative of the results for the full year or the results for any future periods. These unaudited condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements, including the related notes, and the other information contained in our Annual Report on Form 10-K for the year ended December 31, 2014.
Use of Estimates	The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts in the condensed consolidated financial statements and accompanying notes. Significant estimates include allowance for loan losses, valuation of warrants, stock-based compensation expense, servicing assets/liabilities, capitalized software development costs, the useful lives of long-lived assets and valuation allowance for deferred tax assets. We base our estimates on historical experience, current events and other factors we believe to be reasonable under the circumstances. These estimates and assumptions are inherently subjective in nature; actual results may differ from these estimates and assumptions.
Loans and Loans Held for Sale	Loans
	We originate term loans and lines of credit (collectively, “loans”) that are generally short term in nature, and require daily or weekly repayments. When we originate a term loan, the borrower grants us a security interest in its assets. We may or may not perfect our security interest by publicly filing a financing statement. Loans are carried at amortized cost, reduced by a valuation allowance for loan losses estimated as of the balance sheet dates. In accordance with ASC Subtopic 310-20, Nonrefundable Fees and Other Costs, the amortized cost of a loan is equal to the unpaid principal balance, plus net deferred origination costs. Net deferred origination costs are comprised of certain direct origination costs, net of all loan origination fees received. Loan origination fees include fees charged to the borrower related to origination that increase the loan’s effective interest yield. Direct origination costs in excess of loan origination fees received are included in the loan balance and amortized over the term of the loan using the effective interest method. Loan origination costs are limited to direct costs attributable to originating a loan, including commissions and personnel costs directly related to the time spent by those individuals performing activities related to loan origination. Additionally, when a term loan is originated in conjunction with the extinguishment of a previously issued term loan, we determine whether this is a new loan or a modification to an existing loan in accordance with ASC 310-20. If accounted for as a new loan, rather than a modification, any remaining unamortized net deferred costs are recognized when the new loan is originated. We have both the ability and intent to hold these loans to maturity.
	Loans Held for Sale
	OnDeck Marketplace® is a program whereby we originate and sell certain term loans to third-party institutional investors and retain servicing rights. We sell these whole loans to purchasers in exchange for a cash payment. Determination to hold or sell a loan is made typically within five business days of the initial funding. Loans held for sale are recorded at the lower of cost or market until the loans are sold. Cost of loans held for sale is inclusive of unpaid principal plus net deferred origination costs.
	Because we continue to service the loans we sell, we evaluate whether a servicing asset or liability has been incurred. We estimate the fair value of the loan servicing asset or liability considering the contractual servicing fee revenue, adequate compensation for our servicing obligation, the non-delinquent principal balances of loans and projected servicing revenues over the remaining lives of the loans. As of March 31, 2015 and December 31, 2014, we serviced an unpaid principal amount of $129.9 million and $79.7 million of term loans for others, respectively, and determined that no servicing asset or liability is necessary.
	Allowance for Loan Losses
	The allowance for loan losses (“ALLL”) is established through periodic charges to the provision for loan losses. Loan losses are charged against the ALLL when we believe that the future collection of principal is unlikely. Subsequent recoveries, if any, are credited to the ALLL.
	We evaluate the creditworthiness of our portfolio on a pooled basis due to its composition of small, homogeneous loans with similar general credit risk characteristics and diversification among variables including industry and geography. We use a proprietary forecast loss rate at origination for new loans that have not had the opportunity to make payments when they are first funded. The forecasted loss rate is updated daily to reflect actual loan performance and the underlying ALLL model is updated monthly to reflect our assumptions. The allowance is subjective as it requires material estimates, including such factors as historical trends, known and inherent risks in the loan portfolio, adverse situations that may affect borrowers’ ability to repay and current economic conditions. Other qualitative factors considered may include items such as uncertainties in forecasting and modeling techniques, changes in portfolio composition, seasonality, business conditions and emerging trends. Recovery of the carrying value of loans is dependent to a great extent on conditions that may be beyond our control. Any combination of the aforementioned factors may adversely affect our loan portfolio resulting in increased delinquencies and loan losses and could require additional provisions for credit losses, which could impact future periods. In our opinion, we have provided adequate allowances to absorb probable credit losses inherent in our loan portfolio based on available and relevant information affecting the loan portfolio at each balance sheet date.
	Accrual for Unfunded Loan Commitments and Off-Balance Sheet Credit Exposures
	For our line of credit product we estimate probable losses on unfunded loan commitments similarly to the ALLL process and include the calculated amount in accrued expenses and other liabilities. We believe the accrual for unfunded loan commitments is sufficient to absorb estimated probable losses related to these unfunded credit commitments. The determination of the adequacy of the accrual is based on evaluations of the unfunded credit commitments, including an assessment of the probability of commitment usage, credit risk factors for lines of credit outstanding to these customers and the terms and expiration dates of the unfunded credit commitments. As of March 31, 2015 and December 31, 2014, our off-balance sheet credit exposure related to the undrawn line of credit balances was $39.1 million and $28.7 million, respectively. The related accrual for unfunded loan commitments was $1.7 million and $1.3 million as of March 31, 2015 and December 31, 2014, respectively. Net adjustments to the accrual for unfunded loan commitments are included in general and administrative expenses.
	Accrual for Third-Party Representations
	We have made certain representations to third parties that purchase loans through OnDeck Marketplace. Any significant estimated post-sale obligations or contingent obligations to the purchaser of the loans, such as fraudulent loan repurchase obligations or excess loss indemnification obligations, would be accrued if probable and estimable in accordance with ASC 450, Contingencies. There are no restricted assets related to these agreements.
Revenue Recognition	Interest Income
	We generate revenue primarily through interest and origination fees earned on loans originated and held to maturity.
	We recognize interest and origination fee revenue over the terms of the underlying loans using the effective interest method. Origination fees collected but not yet recognized as revenue are netted with direct origination costs and presented as a component of loans in our condensed consolidated balance sheets.
	Historically, borrowers who elected to prepay term loans were required to pay future interest and fees that would have been assessed had the term loan been repaid in accordance with its original agreement. Beginning in December 2014, certain term loans may be eligible for a discount of future interest and fees that would have been assessed had the loan been repaid in accordance with its original agreement.
	Gain on Sales of Loans
	In October 2013, we started OnDeck Marketplace whereby we originate and sell certain loans to third-party purchasers and retain servicing rights. We account for the loan sales in accordance with ASC Topic 860, Transfers and Servicing, which states that a transfer of a financial asset, a group of financial assets, or a participating interest in a financial asset is accounted for as a sale if all of the following conditions are met:
	1	The financial assets are isolated from the transferor and its consolidated affiliates as well as its creditors.
	2	The transferee or beneficial interest holders have the right to pledge or exchange the transferred financial assets.
	3	The transferor does not maintain effective control of the transferred assets.
	For the three months ended March 31, 2015 and 2014, all sales met the requirements for sale treatment under the guidance for ASC Topic 860, Transfers and Servicing. We record the gain or loss on the sale of a loan at the sale date in an amount equal to the proceeds received less outstanding principal and net deferred origination costs.
	Other Revenue
	We retain servicing rights on sold loans and recognize servicing revenue for servicing sold loans as a component of other revenue. For the three months ended March 31, 2015 and 2014 we earned $0.5 million and $0.1 million of servicing revenue, respectively. In accordance with ASC Topic 860, Transfers and Servicing, we have not recognized a servicing asset or liability as the benefits of servicing are just adequate to compensate us for our servicing responsibilities. Other revenue also includes marketing fees earned from our issuing bank partner, which are recognized as the related services are provided, and monthly fees charged to customers for our line of credit products.
Stock-Based Compensation	In accordance with ASC Topic 718, Compensation—Stock Compensation, all stock-based compensation made to employees is measured based on the grant-date fair value of the awards and recognized as compensation expense on a straight-line basis over the period during which the option holder is required to perform services in exchange for the award (the vesting period). We use the Black-Scholes-Merton Option Pricing Model to estimate the fair value of stock options. The use of the option valuation model requires subjective assumptions, including the fair value of our common stock, the expected term of the option and the expected stock price volatility based on our stock as well as our peer companies. In February 2015, we began issuing restricted stock units ("RSUs") to employees, which are measured based on the fair values of the underlying stock on the dates of grant. Additionally, the recognition of stock-based compensation expense requires an estimation of the number of options and RSUs that will ultimately vest and the number of options and RSUs that will ultimately be forfeited.
Recent Accounting Pronouncements Not Yet Adopted	In May 2014, the FASB issued ASU 2014-09, Revenue Recognition, which creates ASC 606, Revenue from Contracts with Customers, and supersedes ASC 605, Revenue Recognition. ASU 2014-09 requires revenue to be recognized in an amount that reflects the consideration to which the entity expects to be entitled in exchange for goods or services as described in ASU 2014-09. This accounting standard is effective for interim and annual periods beginning after December 15, 2016. We are currently assessing the impact this accounting standard will have on our consolidated financial statements.
	In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs, which amends ASC 835-30, Interest - Imputation of Interest. ASU 2015-03 requires entities to change the presentation of debt issuance costs in the financial statements. Under the ASU, an entity will be required to present such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. This accounting standard is effective beginning January 1, 2017. We are currently assessing the impact this accounting standard will have on our consolidated financial statements.

Net_Loss_Per_Common_Share_Tabl

Net Loss Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Basic and diluted net loss per common share is calculated as follows (in thousands, except share and per share data):
		Three Months Ended March 31,
		2015				2014
	Numerator:
	Net loss	$	(5,343	)		$	(13,717	)
	Less: Accretion of dividends on the redeemable convertible preferred stock	—				(2,605		)
	Net loss attributable to common stockholders	$	(5,343	)		$	(16,322	)
	Denominator:
	Weighted-average common shares outstanding, basic and diluted	69,249,462				4,707,867
	Net loss per common share, basic and diluted	$	(0.08	)		$	(3.47	)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following common share equivalent securities have been excluded from the calculation of weighted-average common shares outstanding because the effect is anti-dilutive for the periods presented:
		March 31, 2015			December 31, 2014
	Anti-Dilutive Common Share Equivalents
	Warrants to purchase common stock	2,516,288			2,516,288
	Restricted stock units and restricted stock	418,778			88,418
	Stock options	10,105,177			10,371,469
	Total anti-dilutive common share equivalents	13,040,243			12,976,175

Loans_Allowance_for_Loan_Losse1

Loans, Allowance for Loan Losses and Loans Held for Sale (Tables)	3 Months Ended
	Mar. 31, 2015
Receivables [Abstract]
Schedule of Loans	Loans consisted of the following as of March 31, 2015 and December 31, 2014 (in thousands):
		March 31, 2015			December 31, 2014
	Term loans	$	508,848		$	466,386
	Lines of credit	34,060			24,177
	Total unpaid principal balance	542,908			490,563
	Net deferred origination costs	13,513			13,544
	Total loans	$	556,421		$	504,107
Schedule of Allowance for Loan Losses	The activity in the allowance for loan losses for the three months ended March 31, 2015 and 2014 consisted of the following (in thousands):
		2015			2014
	Balance at January 1	$	49,804		$	19,443
	Provision for loan losses	23,101			16,579
	Loans charged off	(17,864		)	(8,696		)
	Recoveries of loans previously charged off	1,754			396
	Allowance for loan losses at March 31	$	56,795		$	27,722
Schedule of Non-delinquent and Delinquent Loans	The following table shows an aging analysis of loans by delinquency status as of March 31, 2015 and December 31, 2014 (in thousands):
		March 31, 2015			December 31, 2014
	By delinquency status:
	Non-delinquent loans	$	472,702		$	430,689
	1-14 calendar days past due	24,579			23,954
	15-29 calendar days past due	10,876			9,462
	30-59 calendar days past due	12,657			10,707
	60-89 calendar days past due	10,885			7,724
	90 + calendar days past due	11,209			8,027
	Total unpaid principal balance	$	542,908		$	490,563
	The following table illustrates the loan balance related to non-delinquent, paying and non-paying delinquent loans and the corresponding allowance for loan losses as of March 31, 2015 and December 31, 2014 (in thousands):
		March 31, 2015			December 31, 2014
		Unpaid			Unpaid
		Principal			Principal
		Balance			Balance
	Non-delinquent loans	$	472,702		$	430,689
	Delinquent: paying (accrual status)	47,711			40,049
	Delinquent: non-paying (non-accrual status)	22,495			19,825
	Total	$	542,908		$	490,563

Debt_Tables

Debt (Tables)	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Summary of Outstanding Debt	The following table summarizes our outstanding debt as of March 31, 2015 and December 31, 2014:
	Description	Type	Maturity Date	Interest Rates at March 31, 2015	31-Mar-15		31-Dec-14
					(in thousands)
	Funding Debt:
	ODAST Agreement	Securitization Facility	May-18	3.40%	$	174,974	$	174,972
	ODART Agreement	Revolving	September 2016	3.70%	99,079		105,598
	ODAC Agreement	Revolving	Oct-16	8.40%	29,541		32,733
	ODAP Agreement	Revolving	Aug-16	5.00%	75,000		56,686
	SBAF Agreement	Revolving	Various(1)	7.60%	16,313		16,740
	Partner Synthetic Participations	Term	Various(2)	Various	3,483		1,199
					398,390		387,928
	Corporate Debt:
	Square 1 Agreement	Revolving	October 2015	4.50%	—		12,000
					$	398,390	$	399,928
	___________
	-1	Maturity dates range from June 2015 through March 2017
	-2	Maturity dates range from April 2015 through March 2017

Redeemable_Convertible_Preferr1

Redeemable Convertible Preferred Stock (Tables)	3 Months Ended
	Mar. 31, 2015
Equity [Abstract]
Summary of Activity for Preferred Stock	The following table presents a summary of activity for the preferred stock issued and outstanding for the three months ended March 31, 2014 (in thousands):
		Series A		Series B		Series C		Series C-1		Series D		Series E		Total
														Amount
	Balance, December 31, 2013	$	2,559	$	22,918	$	24,749	$	5,401	$	62,716	$	—	$	118,343
	Issuance of preferred stock	—		—		—		—		—		77,000		77,000
	Accretion of dividends on preferred stock	33		317		409		94		1,204		548		2,605
	Balance, March 31, 2014	$	2,592	$	23,235	$	25,158	$	5,495	$	63,920	$	77,548	$	197,948

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value, Liabilities Measured on Recurring Basis	The following table presents the changes in the Level 3 instruments measured at fair value on a recurring basis for the three months ended March 31, 2014 (in thousands):
		2014
	Warrant liability balance at January 1	$	4,446
	Change in fair value	6,632
	Warrant liability balance at March 31	$	11,078

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Assumptions for Estimating Fair Value of Stock Options	The following table summarizes the assumptions used for estimating the fair value of stock options granted during the three months ended March 31, 2015:
		2015
	Risk-free interest rate	1.95 - 2.13%
	Expected term (years)	6.04
	Expected volatility	42.24 - 46.51%
	Dividend yield	0%
	Weighted-average grant date fair value per share	$8.78
Summary of Option Activity	The following is a summary of option activity during the three months ended March 31, 2015:
		Number of		Weighted-			Weighted-	Aggregate
		Options		Average			Average	Intrinsic
				Exercise			Remaining	Value
				Price			Contractual
							Term
							(in years)	(in thousands)
	Outstanding at January 1, 2015	10,371,472		$	4.59
	Granted	251,021		$	19.73
	Exercised	(367,421	)	$	1
	Forfeited	(136,444	)	$	3.55
	Expired	(13,451	)	$	0.65
	Outstanding at March 31, 2015	10,105,177		$	5.11		8.27	$	165,086
	Exercisable at March 31, 2015	3,279,655		$	0.82		7.23	$	67,902
	Vested or expected to vest as of March 31, 2015	9,440,461		$	4.87		8.36	$	157,175
Schedule of Stock-based Compensation Expense	Stock-based compensation expense was attributed to the following line items in our accompanying unaudited condensed consolidated statements of operations for the three months ended March 31, (in thousands):
		2015			2014
	Sales and marketing	$	575		$	46
	Technology and analytics	436			49
	Processing and servicing	147			19
	General and administrative	884			119
	Total	$	2,042		$	233

Organization_Details

Organization (Details) (Loans Receivable [Member], USD $)	3 Months Ended
	Mar. 31, 2015
Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Duration of financing products	3 months
Loans and Leases Receivable, Lending Capacity	$5,000
Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Duration of financing products	24 months
Loans and Leases Receivable, Lending Capacity	$250,000

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Loans and Loans Held for Sale) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Number of business days to determine hold or sell loan	5 days
Serviced unpaid principal amount	$129.90	$79.70
Unused lines of Credit [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Off-balance sheet credit exposure related to undrawn line of credit	39.1	28.7
Reserve for Off-balance Sheet Activities [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Related accrual for unfunded loan commitments	$1.70	$1.30

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Revenue Recognition) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Accounting Policies [Abstract]
Servicing revenue	$0.50	$0.10

Net_Loss_Per_Common_Share_Basi

Net Loss Per Common Share (Basic and Diluted Net Loss per Common Share) (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share [Abstract]
Net loss	($5,343)	($13,717)
Accretion of dividends on redeemable convertible preferred stock	0	2,605
Net loss attributable to common stockholders	($5,343)	($16,322)
Weighted-average common shares outstanding, basic and diluted	69,249,462	4,707,867
Net loss per common share, basic and diluted	($0.08)	($3.47)

Net_Loss_Per_Common_Share_Anti

Net Loss Per Common Share (Anti-Dilutive Common Share Equivalents) (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive common share equivalents	13,040,243	12,976,175
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive common share equivalents	2,516,288	2,516,288
Restricted Stock Units and Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive common share equivalents	418,778	88,418
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive common share equivalents	10,105,177	10,371,469

Net_Loss_Per_Common_Share_Narr

Net Loss Per Common Share (Narrative) (Details) (Weighted Average [Member], USD $)	Mar. 31, 2015	Dec. 31, 2014
Weighted Average [Member]
Class of Warrant or Right [Line Items]
Weighted average exercise price for warrants to purchase common stock	$9.51	$9.51

Loans_Allowance_for_Loan_Losse2

Loans, Allowance for Loan Losses and Loans Held for Sale (Loans) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid principal balance	$542,908	$490,563
Net deferred origination costs	13,513	13,544
Total loans	556,421	504,107
Term Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid principal balance	508,848	466,386
Lines of Credit [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid principal balance	$34,060	$24,177

Loans_Allowance_for_Loan_Losse3

Loans, Allowance for Loan Losses and Loans Held for Sale (Allowance Roll Forward) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at January 1	$49,804	$19,443
Provision for loan losses	23,101	16,579
Loans charged off	-17,864	-8,696
Recoveries of loans previously charged off	1,754	396
Allowance for loan losses at March 31	$56,795	$27,722

Loans_Allowance_for_Loan_Losse4

Loans, Allowance for Loan Losses and Loans Held for Sale (Narrative) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Receivables [Abstract]
Purchased loans	$54.60	$34
Proceeds from sale of previously charged-off loans	1.5	0.3
Allowance for loan losses for non-delinquent loans	22.5		20.5
Allowance for loan losses for delinquent loans	$34.30		$29.30

Loans_Allowance_for_Loan_Losse5

Loans, Allowance for Loan Losses and Loans Held for Sale (Non-delinquent, Paying and Non-paying Delinquent Loans) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Receivables [Abstract]
Non-delinquent loans	$472,702	$430,689
Delinquent: paying (accrual status)	47,711	40,049
Delinquent: non-paying (non-accrual status)	22,495	19,825
Total loans	$542,908	$490,563

Loans_Allowance_for_Loan_Losse6

Loans, Allowance for Loan Losses and Loans Held for Sale (Aging Analysis of Term Loans) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-delinquent loans	$472,702	$430,689
Total loans	542,908	490,563
1-14 calendar days past due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	24,579	23,954
15 to 29 calendar days past due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	10,876	9,462
30 to 59 calendar days past due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	12,657	10,707
60 to 89 calendar days past due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	10,885	7,724
Equal to or greater than 90 calendar days past due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	$11,209	$8,027

Debt_Details

Debt (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Debt Instrument [Line Items]
Outstanding debt	$398,390	$399,928
Partner Synthetic Participations [Member]
Debt Instrument [Line Items]
Outstanding debt	3,483	1,199
Funding Debt [Member]
Debt Instrument [Line Items]
Outstanding debt	398,390	387,928
ODAST Agreement Due May 2018 [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Fixed interest rate	3.40%
Outstanding debt	174,974	174,972
ODART Agreement Due September 2016 [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Variable interest rate	3.70%
Outstanding debt	99,079	105,598
ODAC Agreement Due October 2016 [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Variable interest rate	8.40%
Outstanding debt	29,541	32,733
ODAP Agreement Due August 2016 [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Variable interest rate	5.00%
Outstanding debt	75,000	56,686
SBAF Agreement Due June 2015 through March 2017 [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Fixed interest rate	7.60%
Outstanding debt	16,313	16,740
Corporate Debt [Member]
Debt Instrument [Line Items]
Outstanding debt	0	12,000
Corporate Debt [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Variable interest rate	4.50%
Outstanding debt	$0	$12,000

Redeemable_Convertible_Preferr2

Redeemable Convertible Preferred Stock (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance, Preferred Stock Issued and Outstanding		$118,343,000
Issuance of preferred stock		77,000,000
Accretion of dividends on preferred stock	0	2,605,000
Ending Balance, Preferred Stock Issued and Outstanding		197,948,000
Series A [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance, Preferred Stock Issued and Outstanding		2,559,000
Issuance of preferred stock		0
Accretion of dividends on preferred stock		33,000
Ending Balance, Preferred Stock Issued and Outstanding		2,592,000
Series B [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance, Preferred Stock Issued and Outstanding		22,918,000
Issuance of preferred stock		0
Accretion of dividends on preferred stock		317,000
Ending Balance, Preferred Stock Issued and Outstanding		23,235,000
Series C [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance, Preferred Stock Issued and Outstanding		24,749,000
Issuance of preferred stock		0
Accretion of dividends on preferred stock		409,000
Ending Balance, Preferred Stock Issued and Outstanding		25,158,000
Series C-1 [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance, Preferred Stock Issued and Outstanding		5,401,000
Issuance of preferred stock		0
Accretion of dividends on preferred stock		94,000
Ending Balance, Preferred Stock Issued and Outstanding		5,495,000
Series D [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance, Preferred Stock Issued and Outstanding		62,716,000
Issuance of preferred stock		0
Accretion of dividends on preferred stock		1,204,000
Ending Balance, Preferred Stock Issued and Outstanding		63,920,000
Series E [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance, Preferred Stock Issued and Outstanding		0
Issuance of preferred stock		77,000,000
Accretion of dividends on preferred stock		548,000
Ending Balance, Preferred Stock Issued and Outstanding		77,548,000
Redeemable Convertible Preferred Stock [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Ending Balance, Preferred Stock Issued and Outstanding	$0

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments (Details) (Warrant Liability [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014
Warrant Liability [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Warrant liability balance at January 1	$4,446
Change in fair value	6,632
Warrant liability balance at March 31	$11,078

StockBased_Compensation_Summar

Stock-Based Compensation (Summary of Assumptions) (Details) (Employee Stock Option [Member], USD $)	3 Months Ended
	Mar. 31, 2015
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate, Minimum	1.95%
Risk-free interest rate, Maximum	2.13%
Expected term (years)	6 years 15 days
Expected volatility, Minimum	42.24%
Expected volatility, Maximum	46.51%
Dividend yield	0.00%
Weighted-average grant date fair value per share	$8.78

StockBased_Compensation_Summar1

Stock-Based Compensation (Summary of Option Activity) (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Beginning Balance, Outstanding, Number of Options	10,371,472
Granted, Number of Options	251,021
Exercised, Number of Options	-367,421
Forfeited, Number of Options	-136,444
Expired, Number of Options	-13,451
Ending Balance, Outstanding, Number of Options	10,105,177
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Beginning Balance, Outstanding, Weighted-Average Exercise Price	$4.59
Granted, Weighted-Average Exercise Price	$19.73
Exercised, Weighted-Average Exercise Price	$1
Forfeited, Weighted-Average Exercise Price	$3.55
Expired, Weighted-Average Exercise Price	$0.65
Ending Balance, Outstanding, Weighted-Average Exercise Price	$5.11
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Outstanding, Weighted-Average Remaining Contractual Term	8 years 3 months 7 days
Outstanding, Aggregate Intrinsic Value	$165,086
Exercisable, Number of Options	3,279,655
Exercisable, Weighted-Average Exercise Price	$0.82
Exercisable, Weighted-Average Remaining Contractual Term	7 years 2 months 23 days
Exercisable, Aggregate Intrinsic Value	67,902
Vested or expected to vest, Number of Options	9,440,461
Vested or expected to vest, Weighted-Average Exercise Price	$4.87
Vested or expected to vest, Weighted-Average Remaining Contractual Term	8 years 4 months 10 days
Vested or expected to vest, Aggregate Intrinsic Value	$157,175

StockBased_Compensation_Stockb

Stock-Based Compensation (Stock-based Compensation Expense) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$2,042	$233
Selling and Marketing Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	575	46
Technology and Analytics [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	436	49
Processing and Servicing [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	147	19
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$884	$119

StockBased_Compensation_Narrat

Stock-Based Compensation (Narrative) (Details) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost for nonvested awards not yet recognized	$20.50
Aggregate intrinsic value, employee options exercised	$6.10
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period for recognition	3 years 3 months 11 days

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Lease term of contract	10 years 10 months
Initial monthly fixed rent payments	$0.40
Rent credits	3.6
Tenant improvement allowance	$5.80

Subsequent_Events_Details

Subsequent Events (Details) (Subsequent Event [Member], On Deck Capital Australia PTY LTD [Member], USD $)	1 Months Ended
In Millions, unless otherwise specified	Apr. 30, 2015
Subsequent Event [Line Items]
Initial commitment	$8.40
Ownership percentage	55.00%
Unfunded Commitment [Member]
Subsequent Event [Line Items]
Remaining commitment	$4.20