On Deck Capital (ONDK) 10-Q 7 Nov 16 2016 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 31, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	On Deck Capital, Inc.
Entity Central Index Key	1,420,811
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding (in shares)		71,441,993

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 85,948	$ 159,822
Restricted cash	42,827	38,463
Loans held for investment	905,327	552,742
Less: Allowance for loan losses	(87,368)	(53,311)
Loans held for investment, net	817,959	499,431
Loans held for sale	986	706
Property, equipment and software, net	30,289	26,187
Other assets	19,863	20,416
Total assets	997,872	745,025
Liabilities:
Accounts payable	4,087	2,701
Interest payable	1,583	757
Accrued expenses and other liabilities	31,969	33,560
Total liabilities	702,092	415,603
Commitments and contingencies
Stockholders’ equity (deficit):
Common stock—$0.005 par value, 1,000,000,000 shares authorized and 74,512,869 and 73,107,848 shares issued and 71,374,429 and 70,060,208 outstanding at September 30, 2016 and December 31, 2015, respectively	373	366
Treasury stock—at cost	(6,418)	(5,843)
Additional paid-in capital	472,555	457,003
Accumulated deficit	(175,447)	(128,341)
Accumulated other comprehensive loss	(149)	(372)
Total On Deck Capital, Inc. stockholders' equity	290,914	322,813
Noncontrolling interest	4,866	6,609
Total equity	295,780	329,422
Total liabilities and equity	997,872	745,025
Funding debt
Liabilities:
Debt	651,753	375,890
Corporate debt
Liabilities:
Debt	$ 12,700	$ 2,695

Unaudited Condensed Consolidat3

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common stock, par value (USD per share)	$ 0.005	$ 0.005
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	74,512,869	73,107,848
Common stock, shares outstanding (in shares)	71,374,429	70,060,208

Unaudited Condensed Consolidat4

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenue:
Interest income	$ 71,361	$ 48,624	$ 188,726	$ 147,571
Gain on sales of loans	2,670	16,789	12,594	35,178
Other revenue	3,340	1,985	8,168	4,418
Gross revenue	77,371	67,398	209,488	187,167
Cost of revenue:
Provision for loan losses	36,586	16,239	94,294	54,865
Funding costs	8,452	5,126	22,548	14,941
Total cost of revenue	45,038	21,365	116,842	69,806
Net revenue	32,333	46,033	92,646	117,361
Operating expense:
Sales and marketing	16,789	15,847	50,094	43,503
Technology and analytics	15,050	11,111	42,894	29,904
Processing and servicing	5,181	3,352	14,261	9,070
General and administrative	12,375	12,146	34,233	31,722
Total operating expense	49,395	42,456	141,482	114,199
Income (loss) from operations	(17,062)	3,577	(48,836)	3,162
Other expense:
Interest expense	(111)	(70)	(186)	(250)
Total other expense	(111)	(70)	(186)	(250)
Income (loss) before provision for income taxes	(17,173)	3,507	(49,022)	2,912
Provision for income taxes	0	0	0	0
Net income (loss)	(17,173)	3,507	(49,022)	2,912
Net loss attributable to noncontrolling interests	539	226	1,920	458
Net income (loss) attributable to On Deck Capital, Inc. common stockholders	$ (16,634)	$ 3,733	$ (47,102)	$ 3,370
Net income (loss) per share attributable to On Deck Capital, Inc. common stockholders:
Basic (USD per share)	$ (0.23)	$ 0.05	$ (0.67)	$ 0.05
Diluted (USD per share)	$ (0.23)	$ 0.05	$ (0.67)	$ 0.04
Weighted-average common shares outstanding:
Basic (in shares)	70,971,895	69,678,742	70,750,037	69,472,636
Diluted (in shares)	70,971,895	75,125,740	70,750,037	75,414,348
Comprehensive income (loss):
Net income (loss)	$ (17,173)	$ 3,507	$ (49,022)	$ 2,912
Other comprehensive income (loss):
Foreign currency translation adjustment	210	(1,215)	393	(1,215)
Comprehensive income (loss):	(16,963)	2,292	(48,629)	1,697
Comprehensive income (loss) attributable to noncontrolling interests	(95)	546	(177)	546
Net loss attributable to noncontrolling interests	539	226	1,920	458
Comprehensive income (loss) attributable to On Deck Capital, Inc. common stockholders	$ (16,519)	$ 3,064	$ (46,886)	$ 2,701

Unaudited Condensed Consolidat5

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities
Net income (loss)	$ (49,022)	$ 2,912
Adjustments to reconcile net loss to net cash provided by operating activities:
Provision for loan losses	94,294	54,865
Depreciation and amortization	6,887	4,621
Amortization of debt issuance costs	3,733	2,130
Stock-based compensation	11,423	8,065
Amortization of net deferred origination costs	25,837	26,041
Changes in servicing rights, at fair value	4,074	0
Gain on sales of loans	(12,594)	(35,178)
Unfunded loan commitment reserve	(405)	1,915
Gain on extinguishment of debt	(940)	(182)
Changes in operating assets and liabilities:
Other assets	(1,221)	(11,053)
Accounts payable	1,386	59
Interest payable	826	(124)
Accrued expenses and other liabilities	(844)	10,313
Originations of loans held for sale	(238,077)	(314,134)
Payments of net deferred origination costs of loans held for sale	(8,074)	(12,142)
Proceeds from sale of loans held for sale	246,051	342,825
Principal repayments of loans held for sale	6,189	8,757
Net cash provided by operating activities	89,523	89,690
Cash flows from investing activities
Change in restricted cash	(4,364)	(6,061)
Purchases of property, equipment and software	(6,337)	(5,115)
Capitalized internal-use software	(3,702)	(3,219)
Originations of term loans and lines of credit, excluding rollovers into new originations	(1,333,192)	(809,319)
Proceeds from sale of loans held for investment	57,238	106,007
Payments of net deferred origination costs	(32,909)	(20,578)
Principal repayments of term loans and lines of credit	881,077	639,918
Purchases of term loans	(6,672)	0
Other	(201)	0
Net cash used in investing activities	(449,062)	(98,367)
Cash flows from financing activities
Proceeds from exercise of stock options and warrants	131	227
Payments of initial public offering costs	0	(1,845)
Purchase of shares for treasury	(576)	(184)
Investments by noncontrolling interests	0	7,069
Issuance of common stock under employee stock purchase plan	2,606	0
Payments of debt issuance costs	(4,655)	(1,185)
Net cash provided by (used in) financing activities	285,236	(44,479)
Effect of exchange rate changes on cash and cash equivalents	429	(1,564)
Net decrease in cash and cash equivalents	(73,874)	(54,720)
Cash and cash equivalents at beginning of period	159,822	220,433
Cash and cash equivalents at end of period	85,948	165,713
Supplemental disclosure of other cash flow information
Cash paid for interest	16,282	11,739
Supplemental disclosures of non-cash investing and financing activities
Stock-based compensation included in capitalized internal-use software	1,025	597
Loans transferred from loans held for sale to loans held for investment	861	1,348
Unpaid principal balance of term loans rolled into new originations	200,637	194,218
Funding debt
Cash flows from financing activities
Proceeds from the issuance of funding debt	606,051	159,557
Repayment of debt	(328,321)	(196,118)
Corporate debt
Cash flows from financing activities
Proceeds from the issuance of funding debt	10,000	0
Repayment of debt	$ 0	$ (12,000)

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Organization and Summary of Significant Accounting Policies	Organization and Summary of Significant Accounting Policies On Deck Capital, Inc.’s principal activity is providing financing to small businesses located throughout the United States, as well as in Canada and Australia, through term loans 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. We originate most of the loans in our portfolio and also purchase loans from our issuing bank partner. We subsequently transfer most of our loan volume into one of our wholly-owned subsidiaries or sell them through OnDeck Marketplace ® . Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements and footnotes have been prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP, as contained in the Financial Accounting Standards Board, or FASB, Accounting Standards Codification, or ASC, for interim financial information. The results of operations for the periods presented 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, 2015. Certain reclassifications have been made to the prior period amounts to conform to the current period presentation. When used in these notes to unaudited condensed consolidated financial statements, the terms “we,” “us,” “our” or similar terms refers to On Deck Capital, Inc. and its consolidated subsidiaries. The unaudited condensed consolidated financial statements include the accounts of our wholly-owned subsidiaries and subsidiaries in which we have a controlling financial interest. All intercompany transactions and accounts have been eliminated in consolidation. Other than as described below and in Recently Adopted Accounting Standards , during the nine months ended September 30, 2016 , there were no material changes to our significant accounting policies as disclosed under Part II, Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2015. Use of Estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts in the unaudited condensed consolidated financial statements and accompanying notes. Significant estimates include allowance for loan losses, valuation of warrants, stock-based compensation expense, fair value of servicing assets/liabilities and loans purchased, capitalized software development costs, the useful lives of long-lived assets and the 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. Purchases of Loans From time to time, we may purchase loans that we previously sold to third parties. We generally determine the price we are willing to pay for those loans through arm's-length negotiations and by using a discounted cash flow model which contain certain unobservable inputs such as discount rate, renewal rate and default rate, with adjustments that management believes a market participant would consider. We may also obtain third-party valuations of pools of loans we are considering purchasing. Upon purchase, loans are recorded at their acquisition price which represents fair value. The amortized cost of the purchased loans, which includes unpaid principal balances and any related premiums or discounts, when applicable, are included in loans held for investment on the unaudited condensed consolidated balance sheets. Performance-Based Restricted Stock Units In the third quarter of 2016, the Compensation Committee of the Board of Directors approved performance-based compensation awards to certain members of executive management and other key personnel. The performance-based compensation awards consist of performance-based restricted stock units, or PRSUs, to be settled solely in shares of our common stock, as well as performance units, to be settled solely in cash. The value of the awards is based on achieving a target performance level established by the Compensation Committee and the award value may increase or decrease based on actual performance relative to the target level. The compensation expense related to the PRSUs and performance units will be recorded on a straight-line basis with the expense being adjusted prospectively as our estimate of the expected performance is reassessed each reporting period. Recently Adopted Accounting Standards In April 2015, the FASB issued Accounting Standards Update, or ASU, 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs . The ASU simplifies the presentation of debt issuance costs by requiring that unamortized debt issuance costs be presented as a reduction of the applicable liability rather than an asset. The guidance was effective on January 1, 2016 and was required to be applied retrospectively. Accordingly, $4.2 million of deferred debt issuance costs on the consolidated balance sheet at December 31, 2015 has been reclassified to be presented as a reduction of the carrying value of the associated debt to conform with the current period presentation. 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 and also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows from customer contracts. The new guidance will be effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early adoption is permitted for annual reporting periods beginning after December 15, 2016. In March 2016, the FASB issued ASU 2016-08, Principal versus Agent Considerations , which makes amendments to the new revenue standard on assessing whether an entity is a principal or an agent in a revenue transaction and impacts whether an entity reports revenue on a gross or net basis. In April 2016, the FASB issued ASU 2016-10, Identifying Performance Obligations and Licensing , which makes amendments to the new revenue standard regarding the identification of performance obligations and accounting for the license of intellectual property. In May 2016, the FASB issued ASU 2016-12, Narrow-Scope Improvements and Practical Expedients , which makes amendments to the new revenue standard regarding assessing collectibility, presentation of sales taxes, noncash consideration and completed contracts and contract modifications at the time of transition to the new standard. Each amendment has the same effective date and transition requirements as the new revenue recognition standard. We are currently assessing the impact that the adoption of this guidance will have on our consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases , which creates ASC 842, Leases , and supersedes ASC 840, Leases . ASU 2016-02 requires lessees to recognize a right-of-use asset and lease liability for all leases with terms of more than 12 months. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. The new guidance will be effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period and is applied retrospectively. Early adoption is permitted. We are currently assessing the impact that the adoption of this guidance will have on our consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting . ASU 2016-09 will simplify several aspects of accounting for share-based payment award transactions which include the income tax consequences, classification of awards as either equity or liabilities, classification on the statement of cash flows and forfeiture rate calculations. The new guidance will be effective for annual reporting periods beginning after December 15, 2016. Early adoption is permitted in any interim or annual period. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments . ASU 2016-13 will change the impairment model and how entities measure credit losses for most financial assets. The standard requires entities to use the new expected credit loss impairment model which will replace the incurred loss model used today. The new guidance will be effective for annual reporting periods beginning after December 15, 2019. Early adoption is permitted, but not prior to December 15, 2018. We are currently assessing the impact that the adoption of this guidance will have on our consolidated financial statements.

Net Loss Per Common Share

Net Loss Per Common Share	9 Months Ended
	Sep. 30, 2016
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 September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Numerator: Net income (loss) $ (17,173 ) $ 3,507 $ (49,022 ) $ 2,912 Less: net loss attributable to noncontrolling interest 539 226 1,920 458 Net income (loss) attributable to On Deck Capital, Inc. common stockholders $ (16,634 ) $ 3,733 $ (47,102 ) $ 3,370 Denominator: Weighted-average common shares outstanding: Basic 70,971,895 69,678,742 70,750,037 69,472,636 Weighted-average effect of dilutive securities: Stock options — 5,151,449 — 5,607,795 Restricted stock and RSU's — 16,531 — 52,229 Employee stock purchase program — — — — Warrants to purchase common stock — 279,018 — 281,688 Diluted weighted-average common shares outstanding 70,971,895 75,125,740 70,750,037 75,414,348 Net income (loss) attributable to On Deck Capital, Inc. common stockholders per common share: Basic $ (0.23 ) $ 0.05 $ (0.67 ) $ 0.05 Diluted $ (0.23 ) $ 0.05 $ (0.67 ) $ 0.04 Diluted loss per common share is the same as basic loss per common share for all loss periods presented because the effect of potentially dilutive items were anti-dilutive given our net losses in those periods. The following common share equivalent securities have been excluded from the calculation of weighted-average common stock outstanding because the effect is anti-dilutive for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Anti-Dilutive Common Share Equivalents Warrants to purchase common stock 22,000 22,000 22,000 309,792 Restricted stock units 4,225,480 1,120,030 4,225,480 1,163,580 Employee stock purchase program 40,706 18,176 40,706 18,176 Stock options 11,997,551 5,344,263 11,997,551 10,928,551 Total anti-dilutive common share equivalents 16,285,737 6,504,469 16,285,737 12,420,099 In September 2014 we issued a warrant to purchase 2,206,496 shares of common stock to a strategic partner. The number of exercisable shares is dependent upon performance conditions. On September 30, 2016, a performance condition was not met and the right to purchase 220,650 shares associated with the warrant expired. The right to purchase the remaining shares of common stock associated with the warrant will expire on September 30, 2017 if certain other performance conditions are not met. The weighted-average exercise price for warrants to purchase 2,007,846 shares of common stock was $10.70 as of September 30, 2016 . For the three months and nine months ended September 30, 2016 and 2015 a warrant to purchase 1,985,846 and 2,206,496 shares of common stock, respectively, was excluded from anti-dilutive common share equivalents as performance conditions had not been met.

Loans Held for Investment and A

Loans Held for Investment and Allowance for Loan Losses	9 Months Ended
	Sep. 30, 2016
Receivables [Abstract]
Loans Held for Investment and Allowance for Loan Losses	Loans Held for Investment and Allowance for Loan Losses Loans held for investment consisted of the following as of September 30, 2016 and December 31, 2015 (in thousands): September 30, 2016 December 31, 2015 Term loans $ 783,803 $ 482,596 Lines of credit 105,500 61,194 Total unpaid principal balance 889,303 543,790 Net deferred origination costs 16,024 8,952 Total loans held for investment $ 905,327 $ 552,742 On June 15, 2016, we paid $6.7 million to purchase term loans that we previously sold to a third party which are included in the unpaid principal balance of loans held for investment on the unaudited condensed consolidated balance sheets at September 30, 2016 . We include both loans we originate and loans funded by our issuing bank partner and later purchased by us as part of our originations. During the three months ended September 30, 2016 and 2015 , we purchased such loans in the amount of $147.3 million and $56.1 million , respectively. During the nine months ended September 30, 2016 and 2015 , we purchased such loans in the amount of $381.0 million and $159.6 million , respectively. The activity in the allowance for loan losses for the three and nine months ended September 30 , 2016 and 2015 consisted of the following (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Balance at beginning of period $ 73,849 $ 53,052 $ 53,311 $ 49,804 Provision for loan losses 36,586 16,239 94,294 54,865 Loans charged off (25,268 ) (18,839 ) (65,411 ) (57,853 ) Recoveries of loans previously charged off 2,201 2,135 5,174 5,771 Allowance for loan losses at end of period $ 87,368 $ 52,587 $ 87,368 $ 52,587 When loans are charged-off, we may continue to attempt to recover amounts from the respective borrowers and guarantors, or pursue our rights through formal legal action. Alternatively, we may sell such 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 September 30, 2016 and 2015 , previously charged-off loans sold accounted for $1.2 million and $1.5 million , respectively, of recoveries of loans previously charged off. For the nine months ended September 30, 2016 and 2015 , previously charged-off loans sold accounted for $3.1 million and $4.4 million , respectively, of recoveries of loans previously charged off. As of September 30, 2016 and December 31, 2015 , our off-balance sheet credit exposure related to the undrawn line of credit balances was $149.6 million and $89.1 million , respectively. The related accrual for unfunded loan commitments was $3.8 million and $4.2 million as of September 30, 2016 and December 31, 2015 , respectively. Net adjustments to the accrual for unfunded loan commitments are included in general and administrative expenses. The following table contains information, on a combined basis, regarding the unpaid principal balance of loans we originated and the amortized cost of loans purchased from third parties other than our issuing bank partner related to non-delinquent, paying delinquent and non-paying delinquent loans as of September 30, 2016 and December 31, 2015 (in thousands): September 30, 2016 December 31, 2015 Non-delinquent loans $ 810,531 $ 486,729 Delinquent: paying (accrual status) 46,736 28,192 Delinquent: non-paying (non-accrual status) 32,036 28,869 Total $ 889,303 $ 543,790 The portion of the allowance for loan losses attributable to non-delinquent loans was $45.3 million and $27.0 million , as of September 30, 2016 and December 31, 2015 , respectively, while the portion of the allowance for loan losses attributable to delinquent loans was $42.1 million and $26.3 million as of September 30, 2016 and December 31, 2015 , respectively. The following table contains information, on a combined basis, regarding the unpaid principal balance of loans we originated and the amortized cost of loans purchased from third parties other than our issuing bank partner by delinquency status as of September 30, 2016 and December 31, 2015 (in thousands): September 30, 2016 December 31, 2015 By delinquency status: Non-delinquent loans $ 810,531 $ 486,729 1-14 calendar days past due 23,743 21,360 15-29 calendar days past due 12,045 8,703 30-59 calendar days past due 21,172 10,347 60-89 calendar days past due 12,437 7,443 90 + calendar days past due 9,375 9,208 Total unpaid principal balance $ 889,303 $ 543,790

Servicing Rights

Servicing Rights	9 Months Ended
	Sep. 30, 2016
Transfers and Servicing [Abstract]
Servicing Rights	Servicing Rights As of September 30, 2016 and December 31, 2015 , we serviced for others term loans with a remaining unpaid principal balance of $ 233.6 million and $345.9 million , respectively. During the three months ended September 30, 2016 and 2015 , we sold through OnDeck Marketplace loans with an unpaid principal balance of $87.5 million and $169.0 million , respectively, and during the nine months ended September 30, 2016 and 2015 , we sold loans with an unpaid principal balance of $284.9 million and $404.1 million , respectively. For the three months ended September 30, 2016 and 2015 , we earned servicing revenue of $0.3 million and $1.3 million , respectively. For the nine months ended September 30, 2016 and 2015 , we earned servicing revenue of $0.9 million and $2.7 million , respectively. The following table summarizes the activity related to the fair value of our servicing assets for the three and nine months ended September 30, 2016 and September 30, 2015 : Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Fair value at the beginning of period $ 1,989 $ 78 $ 3,489 $ — Addition: Servicing resulting from transfers of financial assets 717 1,466 2,272 1,544 Changes in fair value: Change in inputs or assumptions used in the valuation model — 972 — 972 Changes in fair value (1) (1,019 ) (264 ) (4,074 ) (264 ) Fair value at the end of period (Level 3) $ 1,687 $ 2,252 $ 1,687 $ 2,252 ___________ (1) Represents changes due to collection of expected cash flows through September 30, 2016 and 2015 recognized through other income on the unaudited condensed consolidated statement of operations

Debt

Debt	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Debt	Debt The following table summarizes our outstanding debt as of September 30, 2016 and December 31, 2015 (in thousands): Description Type Maturity Date Weighted Average Interest September 30, 2016 December 31, 2015 Funding Debt: ODAST II Agreement Securitization Facility May 2020 (1) 4.7% $ 250,000 $ — ODART Agreement Revolving September 2017 3.2% 106,182 42,090 RAOD Agreement Revolving May 2017 3.5% 99,985 47,465 PORT Agreement Revolving June 2017 2.8% 67,313 59,415 ODAF Agreement Revolving August 2019 (2) 7.8% 64,521 — ODAC Agreement Revolving May 2017 9.8% 59,888 27,699 SBAF Agreement Revolving Various (3) 6.5% 5,458 12,783 Partner Synthetic Participations Term Various (4) Various 3,575 6,861 ODAP Agreement Revolving August 2017 (5) 5.0% — 8,819 ODAST Agreement (6) Securitization Facility May 2018 —% — 174,980 656,922 380,112 Deferred Debt Issuance Cost (5,169 ) (4,222 ) Total Funding Debt $ 651,753 $ 375,890 Corporate Debt: Square 1 Agreement Revolving January 2017 (7) 4.5% $ 12,700 $ 2,700 Deferred Debt Issuance Cost — (5 ) Total Corporate Debt $ 12,700 $ 2,695 ___________ (1) The period during which remaining cash flow can be used to purchase additional loans expires April 2018. (2) The period during which new borrowings may be made under this debt facility expires in August 2018. (3) Maturity dates range from October 2016 through August 2017. (4) Maturity dates range from October 2016 through June 2018. (5) The period during which new borrowings may be made under this debt facility expired in August 2016. (6) This debt facility was terminated in May 2016. (7) On October 11, 2016 the maturity date was extended to January 2017. On April 28, 2016, we amended the ODAC Agreement to increase the revolving commitment from an aggregate amount of $50 million to $75 million , increase the interest rate from LIBOR plus 8.25% to LIBOR plus 9.25% , increase in the borrowing base advance rate from 70% to 75% and make certain other related changes. On May 17, 2016, we, through a wholly-owned subsidiary, OnDeck Asset Securitization Trust II LLC, or the ODAST II, entered into a $250 million asset-backed securitization facility with Deutsche Bank Trust Company Americas, as indenture trustee. The notes under the facility were issued in two classes; Class A in the amount of $211.5 million and Class B in the amount of $38.5 million . The Class A and Class B notes bear interest at a fixed rate of 4.21% and 7.63% , respectively. Interest only payments began in June 2016 and are payable monthly through May 2018. Beginning June 2018, monthly payments will consist of both principal and interest with a final maturity of May 2020. Concurrent with the closing of the ODAST II securitization, we voluntarily prepaid in full $175 million of funding debt outstanding from our prior asset-backed securitization transaction, or the ODAST Agreement. The remaining unamortized deferred issuance costs related to the ODAST Agreement of $1.6 million were written-off and are included within Funding Costs on the unaudited condensed consolidated statement of operations for the nine months ended September 30, 2016 . On June 17, 2016, we, through a wholly-owned subsidiary, amended our existing asset-backed revolving debt facility, or the ODART Agreement, to reintroduce Class B revolving loans from the Class B Revolving Lender resulting in additional funding capacity of $12.4 million , thereby increasing the total revolving commitment from $150 million to $162.4 million , establishing a Class B interest rate equal to LIBOR plus 8% , a borrowing base advance rate for the Class B revolving loans of 92% and make certain other changes. On August 19, 2016, we, through a wholly-owned subsidiary, entered into a $100 million asset-backed revolving debt facility, or the ODAF Agreement. The commitment bears interest at LIBOR plus 7.25% , has a borrowing base advance rate of up to 80% and matures in August 2019.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2016
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) We evaluate our financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level at which to classify them for each reporting period. Due to the lack of transparency and quantity of transactions related to trades of servicing rights of comparable loans, we utilize an income valuation technique to estimate fair value. We utilize industry-standard modeling, such as discounted cash flow models, to arrive at an estimate of fair value and may utilize third-party service providers to assist in the valuation process. This determination requires significant judgments to be made. The following tables present information about our assets that are measured at fair value on a recurring basis as of September 30, 2016 and December 31, 2015 (in thousands): September 30, 2016 Description Level 1 Level 2 Level 3 Total Assets : Servicing assets $ — $ — $ 1,687 $ 1,687 Total assets $ — $ — $ 1,687 $ 1,687 December 31, 2015 Description Level 1 Level 2 Level 3 Total Assets : Servicing assets $ — $ — $ 3,489 $ 3,489 Total assets $ — $ — $ 3,489 $ 3,489 There were no transfers between levels during the nine months ended September 30, 2016 or during the year ended December 31, 2015 . The following tables present quantitative information about the significant unobservable inputs used for certain of our Level 3 fair value measurement as of September 30, 2016 and December 31, 2015 : September 30, 2016 Unobservable input Minimum Maximum Weighted-Average Servicing Assets Discount rate 30.00 % 30.00 % 30.00 % Cost of service (1) 0.09 % 0.12 % 0.11 % Renewal rate 50.47 % 57.33 % 53.40 % Default rate 10.12 % 10.72 % 10.33 % December 31, 2015 Unobservable input Minimum Maximum Weighted-Average Servicing Assets Discount rate 30.00 % 30.00 % 30.00 % Cost of service (1) 0.09 % 0.09 % 0.09 % Renewal rate 31.78 % 53.21 % 53.21 % Default rate 6.43 % 10.36 % 10.00 % (1) Estimated cost of servicing a loan as a percentage of unpaid principal balance Changes in certain of the unobservable inputs noted above may have a significant impact on the fair value of our servicing asset. The following table summarizes the effect adverse changes in estimate would have on the fair value of the servicing assets as of September 30, 2016 and December 31, 2015 given hypothetical changes in default rate and cost to service (in thousands): September 30, 2016 December 31, 2015 Servicing Assets Default rate assumption: Default rate increase of 25% $ (107 ) $ (145 ) Default rate increase of 50% $ (207 ) $ (282 ) Cost to service assumption: Cost to service increase by 25% $ (57 ) $ (79 ) Cost to service increase by 50% $ (114 ) $ (159 ) Assets and Liabilities Disclosed at Fair Value Because our loans held for investment, loans held for sale and fixed-rate debt are not measured at fair value, we are required to disclose their fair value in accordance with ASC 825. Due to the lack of transparency and comparable loans, we utilize an income valuation technique to estimate fair value. We utilize industry-standard modeling, such as discounted cash flow models, to arrive at an estimate of fair value and may utilize third-party service providers to assist in the valuation process. This determination requires significant judgments to be made. September 30, 2016 Description Carrying Value Fair Value Level 1 Level 2 Level 3 Assets : Loans held for investment $ 817,959 $ 886,816 $ — $ — $ 886,816 Loans held for sale 986 1,039 — — 1,039 Total assets $ 818,945 $ 887,855 $ — $ — $ 887,855 Description Liabilities: Fixed-rate debt $ 259,033 $ 245,852 $ — $ — $ 245,852 Total fixed-rate debt $ 259,033 $ 245,852 $ — $ — $ 245,852 December 31, 2015 Description Carrying Value Fair Value Level 1 Level 2 Level 3 Assets : Loans held for investment $ 499,431 $ 545,740 $ — $ — $ 545,740 Loans held for sale 706 763 — — 763 Total assets $ 500,137 $ 546,503 $ — $ — $ 546,503 Description Liabilities: Fixed-rate debt $ 194,624 $ 190,411 $ — $ — $ 190,411 Total fixed-rate debt $ 194,624 $ 190,411 $ — $ — $ 190,411 The following techniques and assumptions are used in estimating fair value: Loans held for investment and loans held for sale - Fair value is based on discounted cash flow models which contain certain unobservable inputs such as discount rate, renewal rate and default rate. Fixed-rate debt - Our ODAST Agreement, ODAST II Agreement, SBAF Agreement and Partner Synthetic Participations are considered fixed-rate debt. Fair value of our fixed-rate debt is based on a discounted cash flow model with the discount rate being an unobservable input. On May 17, 2016, we voluntarily prepaid in full all amounts due under the ODAST Agreement and simultaneously entered into the ODAST II Agreement.

Noncontrolling Interest

Noncontrolling Interest	9 Months Ended
	Sep. 30, 2016
Noncontrolling Interest [Abstract]
Noncontrolling Interest	Noncontrolling Interest The following table summarizes changes in equity, including the equity attributable to noncontrolling interests, for the nine months ended September 30, 2016 and September 30, 2015 : Nine Months Ended September 30, 2016 On Deck Capital, Inc.'s stockholders' equity Noncontrolling interest Total Balance as of January 1, 2016 $ 322,813 $ 6,609 $ 329,422 Net income (loss) (47,102 ) (1,920 ) (49,022 ) Stock-based compensation (1) 11,399 — 11,399 Employee stock purchase plan 3,996 — 3,996 Cumulative translation adjustment 216 177 393 Exercise of options and warrants 168 — 168 Purchase of shares for treasury (576 ) — (576 ) Balance at September 30, 2016 290,914 4,866 295,780 Comprehensive income (loss): Net income (loss) (47,102 ) (1,920 ) (49,022 ) Other comprehensive income (loss): Foreign currency translation adjustment 216 177 393 Comprehensive income (loss) $ (46,886 ) $ (1,743 ) $ (48,629 ) Nine Months Ended September 30, 2015 On Deck Capital, Inc.'s stockholders' equity Noncontrolling interest Total Balance as of January 1, 2015 $ 310,605 $ — $ 310,605 Net income (loss) 3,370 (458 ) 2,912 Stock-based compensation 8,065 — 8,065 OnDeck Australia capitalization — 6,870 6,870 Exercise of options and warrants 2,422 — 2,422 Cumulative translation adjustment (669 ) (546 ) (1,215 ) Other (183 ) — (183 ) Balance at September 30, 2015 323,610 5,866 329,476 Comprehensive income (loss): Net income (loss) 3,370 (458 ) 2,912 Other comprehensive income (loss): Foreign currency translation adjustment (669 ) (546 ) (1,215 ) Comprehensive income (loss) $ 2,701 $ (1,004 ) $ 1,697 ___________ (1) Includes only the amount of stock-based compensation recognized through additional paid-in capital and does not include stock-based compensation from the employee stock purchase plans. In the second quarter of 2015, we acquired a 55% interest in On Deck Capital Australia PTY LTD, or OnDeck Australia, with the remaining 45% owned by unrelated third parties. Additionally, in the third quarter of 2015, we acquired a 67% interest in an entity with the remaining 33% owned by an unrelated third party strategic partner for the purpose of providing small business loans to customers of the third party. We consolidate the financial position and results of operations of these entities. The noncontrolling interest, which is presented as a separate component of our consolidated equity, represents the minority owner's proportionate share of the equity of the jointly owned entities. The noncontrolling interest is adjusted for the minority owner's share of the earnings, losses, investments and distributions.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation Options The following table summarizes option activity for the nine months ended September 30, 2016 : Number of Weighted- Weighted- Aggregate Outstanding at January 1, 2016 10,711,324 $ 6.16 Granted 2,022,999 $ 5.98 Exercised (420,846 ) $ 0.59 Forfeited (234,919 ) $ 9.47 Expired (81,007 ) $ 12.59 Outstanding at September 30, 2016 11,997,551 $ 6.20 7.57 $ 25,101 Exercisable at September 30, 2016 6,629,040 $ 4.51 6.74 $ 21,610 Vested or expected to vest as of September 30, 2016 11,721,660 $ 6.16 7.57 $ 25,063 Total compensation cost related to unvested option awards not yet recognized as of September 30, 2016 was $19.3 million and will be recognized over a weighted-average period of approximately 2.47 years. The aggregate intrinsic value of employee options exercised during the three months ended September 30, 2016 and 2015 was $0.9 million and $1.8 million , respectively. The aggregate intrinsic value of employee options exercised during the nine months ended September 30, 2016 and 2015 was $2.4 million and $9.7 million , respectively. Restricted Stock Units The following table summarizes activity in our RSUs and PRSUs during the nine months ended September 30, 2016 : Number of RSUs Weighted-Average Grant Date Fair Value Unvested at January 1, 2016 1,853,452 $ 12.85 RSUs and PRSUs granted 2,991,803 $ 6.62 RSUs vested (292,595 ) $ 14.88 RSUs forfeited/expired (327,180 ) $ 10.52 Unvested at September 30, 2016 4,225,480 $ 8.48 Expected to vest after September 30, 2016 3,438,805 $ 9.17 During the nine months ended September 30, 2016 , in addition to granting RSUs, we also granted 194,207 PRSUs with a grant date fair value of $5.95 . For each of the three annual performance periods, one-third (1/3) of the total PRSUs may vest depending upon achievement of performance-based targets. Participants have the ability to earn up to 150% of the baseline award based on certain levels of achievement in excess of the relevant target performance level or could earn less than the baseline award, or nothing at all, based on certain levels of achievement below the relevant target performance level. Measurement of performance is based on a twelve -month period ending June 30 of each year. Performance goals have yet to be established for the twelve-month performance periods ending June 30, 2018 and June 30, 2019. As of September 30, 2016 , there was $23.9 million of unrecognized compensation cost related to unvested RSUs and PRSUs, which is expected to be recognized over the next 3.15 years. Stock-based compensation expense related to stock options, RSUs, PRSUs and the 2014 Employee Stock Purchase Plan are included in the following line items in our accompanying consolidated statements of operations for the three and nine months ended September 30, 2016 and 2015 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Sales and marketing $ 920 $ 1,012 $ 2,749 $ 2,180 Technology and analytics 793 778 2,437 1,719 Processing and servicing 227 227 781 530 General and administrative 1,821 1,690 5,456 3,636 Total $ 3,761 $ 3,707 $ 11,423 $ 8,065

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies 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 exceed or may exceed FDIC insured amounts and at non-U.S. financial institutions where deposited amounts may be uninsured. We believe these institutions to be of acceptable credit quality and we have not experienced any related losses to date. Contingencies Two separate putative class actions were filed in August 2015 in the United States District Court for the Southern District of New York against us, certain of our executive officers, our directors and certain or all of the underwriters of our initial public offering. The suits allege that the registration statement and prospectus for our initial public offering contained materially false and misleading statements regarding, or failed to disclose, certain information in violation of the Securities Act of 1933, as amended. The suits seek a determination that the case is a proper class action and/or certification of the plaintiff as a class representative, rescission or a rescissory measure of damages and/or unspecified damages, interest, attorneys’ fees and other fees and costs. On February 18, 2016, the court issued an order (1) consolidating the two cases, (2) selecting the lead plaintiff and (3) appointing lead class counsel. On March 18, 2016, the lead plaintiff filed an amended complaint. In accordance with the court approved schedule for the case as modified by the court, on June 13, 2016 we filed a motion to dismiss the case and on September 9, 2016, the lead plaintiff filed his opposition to the motion to dismiss. On September 26, 2016, the lead plaintiff filed a notice of voluntary dismissal of the consolidated cases without prejudice as to all parties, which was so ordered by the court on September 28, 2016. From time to time we are subject to other 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.

Organization and Summary of S15

Organization and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements and footnotes have been prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP, as contained in the Financial Accounting Standards Board, or FASB, Accounting Standards Codification, or ASC, for interim financial information. The results of operations for the periods presented 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, 2015. Certain reclassifications have been made to the prior period amounts to conform to the current period presentation. When used in these notes to unaudited condensed consolidated financial statements, the terms “we,” “us,” “our” or similar terms refers to On Deck Capital, Inc. and its consolidated subsidiaries. The unaudited condensed consolidated financial statements include the accounts of our wholly-owned subsidiaries and subsidiaries in which we have a controlling financial interest. All intercompany transactions and accounts have been eliminated in consolidation. Other than as described below and in Recently Adopted Accounting Standards , during the nine months ended September 30, 2016 , there were no material changes to our significant accounting policies as disclosed under Part II, Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2015.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts in the unaudited condensed consolidated financial statements and accompanying notes. Significant estimates include allowance for loan losses, valuation of warrants, stock-based compensation expense, fair value of servicing assets/liabilities and loans purchased, capitalized software development costs, the useful lives of long-lived assets and the 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.
Purchase of Loans	Purchases of Loans From time to time, we may purchase loans that we previously sold to third parties. We generally determine the price we are willing to pay for those loans through arm's-length negotiations and by using a discounted cash flow model which contain certain unobservable inputs such as discount rate, renewal rate and default rate, with adjustments that management believes a market participant would consider. We may also obtain third-party valuations of pools of loans we are considering purchasing. Upon purchase, loans are recorded at their acquisition price which represents fair value. The amortized cost of the purchased loans, which includes unpaid principal balances and any related premiums or discounts, when applicable, are included in loans held for investment on the unaudited condensed consolidated balance sheets.
Performance-Based Restricted Stock Units	Performance-Based Restricted Stock Units In the third quarter of 2016, the Compensation Committee of the Board of Directors approved performance-based compensation awards to certain members of executive management and other key personnel. The performance-based compensation awards consist of performance-based restricted stock units, or PRSUs, to be settled solely in shares of our common stock, as well as performance units, to be settled solely in cash. The value of the awards is based on achieving a target performance level established by the Compensation Committee and the award value may increase or decrease based on actual performance relative to the target level. The compensation expense related to the PRSUs and performance units will be recorded on a straight-line basis with the expense being adjusted prospectively as our estimate of the expected performance is reassessed each reporting period.
Recently Adopted Accounting Standards and Recent Pronouncements Not Yet Adopted	Recently Adopted Accounting Standards In April 2015, the FASB issued Accounting Standards Update, or ASU, 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs . The ASU simplifies the presentation of debt issuance costs by requiring that unamortized debt issuance costs be presented as a reduction of the applicable liability rather than an asset. The guidance was effective on January 1, 2016 and was required to be applied retrospectively. Accordingly, $4.2 million of deferred debt issuance costs on the consolidated balance sheet at December 31, 2015 has been reclassified to be presented as a reduction of the carrying value of the associated debt to conform with the current period presentation. 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 and also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows from customer contracts. The new guidance will be effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early adoption is permitted for annual reporting periods beginning after December 15, 2016. In March 2016, the FASB issued ASU 2016-08, Principal versus Agent Considerations , which makes amendments to the new revenue standard on assessing whether an entity is a principal or an agent in a revenue transaction and impacts whether an entity reports revenue on a gross or net basis. In April 2016, the FASB issued ASU 2016-10, Identifying Performance Obligations and Licensing , which makes amendments to the new revenue standard regarding the identification of performance obligations and accounting for the license of intellectual property. In May 2016, the FASB issued ASU 2016-12, Narrow-Scope Improvements and Practical Expedients , which makes amendments to the new revenue standard regarding assessing collectibility, presentation of sales taxes, noncash consideration and completed contracts and contract modifications at the time of transition to the new standard. Each amendment has the same effective date and transition requirements as the new revenue recognition standard. We are currently assessing the impact that the adoption of this guidance will have on our consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases , which creates ASC 842, Leases , and supersedes ASC 840, Leases . ASU 2016-02 requires lessees to recognize a right-of-use asset and lease liability for all leases with terms of more than 12 months. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. The new guidance will be effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period and is applied retrospectively. Early adoption is permitted. We are currently assessing the impact that the adoption of this guidance will have on our consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting . ASU 2016-09 will simplify several aspects of accounting for share-based payment award transactions which include the income tax consequences, classification of awards as either equity or liabilities, classification on the statement of cash flows and forfeiture rate calculations. The new guidance will be effective for annual reporting periods beginning after December 15, 2016. Early adoption is permitted in any interim or annual period. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments . ASU 2016-13 will change the impairment model and how entities measure credit losses for most financial assets. The standard requires entities to use the new expected credit loss impairment model which will replace the incurred loss model used today. The new guidance will be effective for annual reporting periods beginning after December 15, 2019. Early adoption is permitted, but not prior to December 15, 2018. We are currently assessing the impact that the adoption of this guidance will have on our consolidated financial statements.

Net Loss Per Common Share (Tabl

Net Loss Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2016
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 September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Numerator: Net income (loss) $ (17,173 ) $ 3,507 $ (49,022 ) $ 2,912 Less: net loss attributable to noncontrolling interest 539 226 1,920 458 Net income (loss) attributable to On Deck Capital, Inc. common stockholders $ (16,634 ) $ 3,733 $ (47,102 ) $ 3,370 Denominator: Weighted-average common shares outstanding: Basic 70,971,895 69,678,742 70,750,037 69,472,636 Weighted-average effect of dilutive securities: Stock options — 5,151,449 — 5,607,795 Restricted stock and RSU's — 16,531 — 52,229 Employee stock purchase program — — — — Warrants to purchase common stock — 279,018 — 281,688 Diluted weighted-average common shares outstanding 70,971,895 75,125,740 70,750,037 75,414,348 Net income (loss) attributable to On Deck Capital, Inc. common stockholders per common share: Basic $ (0.23 ) $ 0.05 $ (0.67 ) $ 0.05 Diluted $ (0.23 ) $ 0.05 $ (0.67 ) $ 0.04
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 stock outstanding because the effect is anti-dilutive for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Anti-Dilutive Common Share Equivalents Warrants to purchase common stock 22,000 22,000 22,000 309,792 Restricted stock units 4,225,480 1,120,030 4,225,480 1,163,580 Employee stock purchase program 40,706 18,176 40,706 18,176 Stock options 11,997,551 5,344,263 11,997,551 10,928,551 Total anti-dilutive common share equivalents 16,285,737 6,504,469 16,285,737 12,420,099

Loans Held for Investment and17

Loans Held for Investment and Allowance for Loan Losses (Tables)	9 Months Ended
	Sep. 30, 2016
Receivables [Abstract]
Schedule of Loans Held for Investment	Loans held for investment consisted of the following as of September 30, 2016 and December 31, 2015 (in thousands): September 30, 2016 December 31, 2015 Term loans $ 783,803 $ 482,596 Lines of credit 105,500 61,194 Total unpaid principal balance 889,303 543,790 Net deferred origination costs 16,024 8,952 Total loans held for investment $ 905,327 $ 552,742
Schedule of Allowance for Loan Losses	The activity in the allowance for loan losses for the three and nine months ended September 30 , 2016 and 2015 consisted of the following (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Balance at beginning of period $ 73,849 $ 53,052 $ 53,311 $ 49,804 Provision for loan losses 36,586 16,239 94,294 54,865 Loans charged off (25,268 ) (18,839 ) (65,411 ) (57,853 ) Recoveries of loans previously charged off 2,201 2,135 5,174 5,771 Allowance for loan losses at end of period $ 87,368 $ 52,587 $ 87,368 $ 52,587
Schedule of Non-delinquent and Delinquent Loans	The following table contains information, on a combined basis, regarding the unpaid principal balance of loans we originated and the amortized cost of loans purchased from third parties other than our issuing bank partner by delinquency status as of September 30, 2016 and December 31, 2015 (in thousands): September 30, 2016 December 31, 2015 By delinquency status: Non-delinquent loans $ 810,531 $ 486,729 1-14 calendar days past due 23,743 21,360 15-29 calendar days past due 12,045 8,703 30-59 calendar days past due 21,172 10,347 60-89 calendar days past due 12,437 7,443 90 + calendar days past due 9,375 9,208 Total unpaid principal balance $ 889,303 $ 543,790 The following table contains information, on a combined basis, regarding the unpaid principal balance of loans we originated and the amortized cost of loans purchased from third parties other than our issuing bank partner related to non-delinquent, paying delinquent and non-paying delinquent loans as of September 30, 2016 and December 31, 2015 (in thousands): September 30, 2016 December 31, 2015 Non-delinquent loans $ 810,531 $ 486,729 Delinquent: paying (accrual status) 46,736 28,192 Delinquent: non-paying (non-accrual status) 32,036 28,869 Total $ 889,303 $ 543,790

Servicing Rights (Tables)

Servicing Rights (Tables)	9 Months Ended
	Sep. 30, 2016
Transfers and Servicing [Abstract]
Summary of Activity for Servicing Assets	The following table summarizes the activity related to the fair value of our servicing assets for the three and nine months ended September 30, 2016 and September 30, 2015 : Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Fair value at the beginning of period $ 1,989 $ 78 $ 3,489 $ — Addition: Servicing resulting from transfers of financial assets 717 1,466 2,272 1,544 Changes in fair value: Change in inputs or assumptions used in the valuation model — 972 — 972 Changes in fair value (1) (1,019 ) (264 ) (4,074 ) (264 ) Fair value at the end of period (Level 3) $ 1,687 $ 2,252 $ 1,687 $ 2,252 ___________ (1) Represents changes due to collection of expected cash flows through September 30, 2016 and 2015 recognized through other income on the unaudited condensed consolidated statement of operations

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Summary of Outstanding Debt	The following table summarizes our outstanding debt as of September 30, 2016 and December 31, 2015 (in thousands): Description Type Maturity Date Weighted Average Interest September 30, 2016 December 31, 2015 Funding Debt: ODAST II Agreement Securitization Facility May 2020 (1) 4.7% $ 250,000 $ — ODART Agreement Revolving September 2017 3.2% 106,182 42,090 RAOD Agreement Revolving May 2017 3.5% 99,985 47,465 PORT Agreement Revolving June 2017 2.8% 67,313 59,415 ODAF Agreement Revolving August 2019 (2) 7.8% 64,521 — ODAC Agreement Revolving May 2017 9.8% 59,888 27,699 SBAF Agreement Revolving Various (3) 6.5% 5,458 12,783 Partner Synthetic Participations Term Various (4) Various 3,575 6,861 ODAP Agreement Revolving August 2017 (5) 5.0% — 8,819 ODAST Agreement (6) Securitization Facility May 2018 —% — 174,980 656,922 380,112 Deferred Debt Issuance Cost (5,169 ) (4,222 ) Total Funding Debt $ 651,753 $ 375,890 Corporate Debt: Square 1 Agreement Revolving January 2017 (7) 4.5% $ 12,700 $ 2,700 Deferred Debt Issuance Cost — (5 ) Total Corporate Debt $ 12,700 $ 2,695 ___________ (1) The period during which remaining cash flow can be used to purchase additional loans expires April 2018. (2) The period during which new borrowings may be made under this debt facility expires in August 2018. (3) Maturity dates range from October 2016 through August 2017. (4) Maturity dates range from October 2016 through June 2018. (5) The period during which new borrowings may be made under this debt facility expired in August 2016. (6) This debt facility was terminated in May 2016. (7) On October 11, 2016 the maturity date was extended to January 2017.

Fair Value of Financial Instr20

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following tables present information about our assets that are measured at fair value on a recurring basis as of September 30, 2016 and December 31, 2015 (in thousands): September 30, 2016 Description Level 1 Level 2 Level 3 Total Assets : Servicing assets $ — $ — $ 1,687 $ 1,687 Total assets $ — $ — $ 1,687 $ 1,687 December 31, 2015 Description Level 1 Level 2 Level 3 Total Assets : Servicing assets $ — $ — $ 3,489 $ 3,489 Total assets $ — $ — $ 3,489 $ 3,489
Summary of Significant Unobservable Inputs for Level 3 Fair Value Measurement	The following tables present quantitative information about the significant unobservable inputs used for certain of our Level 3 fair value measurement as of September 30, 2016 and December 31, 2015 : September 30, 2016 Unobservable input Minimum Maximum Weighted-Average Servicing Assets Discount rate 30.00 % 30.00 % 30.00 % Cost of service (1) 0.09 % 0.12 % 0.11 % Renewal rate 50.47 % 57.33 % 53.40 % Default rate 10.12 % 10.72 % 10.33 % December 31, 2015 Unobservable input Minimum Maximum Weighted-Average Servicing Assets Discount rate 30.00 % 30.00 % 30.00 % Cost of service (1) 0.09 % 0.09 % 0.09 % Renewal rate 31.78 % 53.21 % 53.21 % Default rate 6.43 % 10.36 % 10.00 % (1) Estimated cost of servicing a loan as a percentage of unpaid principal balance
Summary of Effect on Changes in Estimate for Servicing Asset Fair Value	The following table summarizes the effect adverse changes in estimate would have on the fair value of the servicing assets as of September 30, 2016 and December 31, 2015 given hypothetical changes in default rate and cost to service (in thousands): September 30, 2016 December 31, 2015 Servicing Assets Default rate assumption: Default rate increase of 25% $ (107 ) $ (145 ) Default rate increase of 50% $ (207 ) $ (282 ) Cost to service assumption: Cost to service increase by 25% $ (57 ) $ (79 ) Cost to service increase by 50% $ (114 ) $ (159 )
Schedule of Assets and Liabilities Disclosed at Fair Value	. September 30, 2016 Description Carrying Value Fair Value Level 1 Level 2 Level 3 Assets : Loans held for investment $ 817,959 $ 886,816 $ — $ — $ 886,816 Loans held for sale 986 1,039 — — 1,039 Total assets $ 818,945 $ 887,855 $ — $ — $ 887,855 Description Liabilities: Fixed-rate debt $ 259,033 $ 245,852 $ — $ — $ 245,852 Total fixed-rate debt $ 259,033 $ 245,852 $ — $ — $ 245,852 December 31, 2015 Description Carrying Value Fair Value Level 1 Level 2 Level 3 Assets : Loans held for investment $ 499,431 $ 545,740 $ — $ — $ 545,740 Loans held for sale 706 763 — — 763 Total assets $ 500,137 $ 546,503 $ — $ — $ 546,503 Description Liabilities: Fixed-rate debt $ 194,624 $ 190,411 $ — $ — $ 190,411 Total fixed-rate debt $ 194,624 $ 190,411 $ — $ — $ 190,411

Noncontrolling Interest (Tables

Noncontrolling Interest (Tables)	9 Months Ended
	Sep. 30, 2016
Noncontrolling Interest [Abstract]
Summary of Changes in Equity	The following table summarizes changes in equity, including the equity attributable to noncontrolling interests, for the nine months ended September 30, 2016 and September 30, 2015 : Nine Months Ended September 30, 2016 On Deck Capital, Inc.'s stockholders' equity Noncontrolling interest Total Balance as of January 1, 2016 $ 322,813 $ 6,609 $ 329,422 Net income (loss) (47,102 ) (1,920 ) (49,022 ) Stock-based compensation (1) 11,399 — 11,399 Employee stock purchase plan 3,996 — 3,996 Cumulative translation adjustment 216 177 393 Exercise of options and warrants 168 — 168 Purchase of shares for treasury (576 ) — (576 ) Balance at September 30, 2016 290,914 4,866 295,780 Comprehensive income (loss): Net income (loss) (47,102 ) (1,920 ) (49,022 ) Other comprehensive income (loss): Foreign currency translation adjustment 216 177 393 Comprehensive income (loss) $ (46,886 ) $ (1,743 ) $ (48,629 ) Nine Months Ended September 30, 2015 On Deck Capital, Inc.'s stockholders' equity Noncontrolling interest Total Balance as of January 1, 2015 $ 310,605 $ — $ 310,605 Net income (loss) 3,370 (458 ) 2,912 Stock-based compensation 8,065 — 8,065 OnDeck Australia capitalization — 6,870 6,870 Exercise of options and warrants 2,422 — 2,422 Cumulative translation adjustment (669 ) (546 ) (1,215 ) Other (183 ) — (183 ) Balance at September 30, 2015 323,610 5,866 329,476 Comprehensive income (loss): Net income (loss) 3,370 (458 ) 2,912 Other comprehensive income (loss): Foreign currency translation adjustment (669 ) (546 ) (1,215 ) Comprehensive income (loss) $ 2,701 $ (1,004 ) $ 1,697 ___________ (1) Includes only the amount of stock-based compensation recognized through additional paid-in capital and does not include stock-based compensation from the employee stock purchase plans.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Option Activity	The following table summarizes option activity for the nine months ended September 30, 2016 : Number of Weighted- Weighted- Aggregate Outstanding at January 1, 2016 10,711,324 $ 6.16 Granted 2,022,999 $ 5.98 Exercised (420,846 ) $ 0.59 Forfeited (234,919 ) $ 9.47 Expired (81,007 ) $ 12.59 Outstanding at September 30, 2016 11,997,551 $ 6.20 7.57 $ 25,101 Exercisable at September 30, 2016 6,629,040 $ 4.51 6.74 $ 21,610 Vested or expected to vest as of September 30, 2016 11,721,660 $ 6.16 7.57 $ 25,063
Schedule of Activities of RSUs	The following table summarizes activity in our RSUs and PRSUs during the nine months ended September 30, 2016 : Number of RSUs Weighted-Average Grant Date Fair Value Unvested at January 1, 2016 1,853,452 $ 12.85 RSUs and PRSUs granted 2,991,803 $ 6.62 RSUs vested (292,595 ) $ 14.88 RSUs forfeited/expired (327,180 ) $ 10.52 Unvested at September 30, 2016 4,225,480 $ 8.48 Expected to vest after September 30, 2016 3,438,805 $ 9.17
Schedule of Stock-based Compensation Expense	Stock-based compensation expense related to stock options, RSUs, PRSUs and the 2014 Employee Stock Purchase Plan are included in the following line items in our accompanying consolidated statements of operations for the three and nine months ended September 30, 2016 and 2015 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Sales and marketing $ 920 $ 1,012 $ 2,749 $ 2,180 Technology and analytics 793 778 2,437 1,719 Processing and servicing 227 227 781 530 General and administrative 1,821 1,690 5,456 3,636 Total $ 3,761 $ 3,707 $ 11,423 $ 8,065

Organization and Summary of S23

Organization and Summary of Significant Accounting Policies (Details) $ in Millions	Dec. 31, 2015USD ($)
Accounting Policies [Abstract]
Reclassification of deferred debt issuance costs	$ 4.2

Net Loss Per Common Share (Basi

Net Loss Per Common Share (Basic and Diluted Net Loss per Common Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income (loss)	$ (17,173)	$ 3,507	$ (49,022)	$ 2,912
Net loss attributable to noncontrolling interests	539	226	1,920	458
Net income (loss) attributable to On Deck Capital, Inc. common stockholders	$ (16,634)	$ 3,733	$ (47,102)	$ 3,370
Weighted-average common shares outstanding:
Basic (in shares)	70,971,895	69,678,742	70,750,037	69,472,636
Weighted-average effect of dilutive securities:
Diluted weighted-average common shares outstanding (in shares)	70,971,895	75,125,740	70,750,037	75,414,348
Net income (loss) attributable to On Deck Capital, Inc. common stockholders per common share:
Basic (USD per share)	$ (0.23)	$ 0.05	$ (0.67)	$ 0.05
Diluted (USD per share)	$ (0.23)	$ 0.05	$ (0.67)	$ 0.04
Stock options
Weighted-average effect of dilutive securities:
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)	0	5,151,449	0	5,607,795
Restricted stock and RSU's
Weighted-average effect of dilutive securities:
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)	0	16,531	0	52,229
Employee stock purchase program
Weighted-average effect of dilutive securities:
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)	0	0	0	0
Warrants to purchase common stock
Weighted-average effect of dilutive securities:
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)	0	279,018	0	281,688

Net Loss Per Common Share (Anti

Net Loss Per Common Share (Anti-Dilutive Common Share Equivalents) (Details) - $ / shares	Sep. 30, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common share equivalents (in shares)		16,285,737	6,504,469	16,285,737	12,420,099
Class of Warrant or Right, Number of Securities Called by Warrants or Rights						2,206,496
Class of Warrant or Right, Number of Securities Called by Warrants or Rights, Expired	220,650
Weighted-Average
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Price of shares entitled to purchase (USD per share)	$ 10.70	$ 10.70		$ 10.70
Warrants to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common share equivalents (in shares)		1,985,846	2,206,496	1,985,846	2,206,496
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common share equivalents (in shares)		11,997,551	5,344,263	11,997,551	10,928,551
Warrants to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common share equivalents (in shares)				2,007,846
Warrants to purchase common stock | Warrants to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common share equivalents (in shares)		22,000	22,000	22,000	309,792
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common share equivalents (in shares)		4,225,480	1,120,030	4,225,480	1,163,580
Employee stock purchase program
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common share equivalents (in shares)		40,706	18,176	40,706	18,176

Loans Held for Investment and26

Loans Held for Investment and Allowance for Loan Losses (Loans) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total unpaid principal balance	$ 889,303	$ 543,790
Net deferred origination costs	16,024	8,952
Total loans held for investment	905,327	552,742
Term loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total unpaid principal balance	783,803	482,596
Lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total unpaid principal balance	$ 105,500	$ 61,194

Loans Held for Investment and27

Loans Held for Investment and Allowance for Loan Losses (Narrative) (Details) - USD ($) $ in Thousands	Jun. 15, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Originations of loans held for investment, modified	$ 6,700			$ 6,672	$ 0
Proceeds from sale of previously charged-off loans		$ 1,200	$ 1,500	3,100	4,400
Allowance for loan losses for non-delinquent loans		45,300		45,300		$ 27,000
Allowance for loan losses for delinquent loans		42,100		42,100		26,300
Unused lines of Credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Off-balance sheet credit exposure		149,600		149,600		89,100
Reserve for Off-balance Sheet Activities
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Related accrual for unfunded loan commitments		3,800		3,800		$ 4,200
Financial Institutions Borrower
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Originations of loans held for investment, modified		$ 147,300	$ 56,100	$ 381,000	$ 159,600

Loans Held for Investment and28

Loans Held for Investment and Allowance for Loan Losses (Allowance Roll Forward) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period	$ 73,849	$ 53,052	$ 53,311	$ 49,804
Provision for loan losses	36,586	16,239	94,294	54,865
Loans charged off	(25,268)	(18,839)	(65,411)	(57,853)
Recoveries of loans previously charged off	2,201	2,135	5,174	5,771
Allowance for loan losses at end of period	$ 87,368	$ 52,587	$ 87,368	$ 52,587

Loans Held for Investment and29

Loans Held for Investment and Allowance for Loan Losses (Non-delinquent, Paying and Non-paying Delinquent Loans) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Receivables [Abstract]
Non-delinquent loans	$ 810,531	$ 486,729
Delinquent: paying (accrual status)	46,736	28,192
Delinquent: non-paying (non-accrual status)	32,036	28,869
Total unpaid principal balance	$ 889,303	$ 543,790

Loans Held for Investment and30

Loans Held for Investment and Allowance for Loan Losses (Aging Analysis of Term Loans) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-delinquent loans	$ 810,531	$ 486,729
Total unpaid principal balance	889,303	543,790
1-14 calendar days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	23,743	21,360
15-29 calendar days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	12,045	8,703
30-59 calendar days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	21,172	10,347
60-89 calendar days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	12,437	7,443
90 calendar days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	$ 9,375	$ 9,208

Servicing Rights (Narrative) (D

Servicing Rights (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Transfers and Servicing [Abstract]
Serviced unpaid principal balance	$ 233.6		$ 233.6		$ 345.9
Unpaid principal balance for loans sold during period	87.5	$ 169	284.9	$ 404.1
Servicing revenue	$ 0.3	$ 1.3	$ 0.9	$ 2.7

Servicing Rights (Fair Value of

Servicing Rights (Fair Value of Servicing Assets) (Details) - Term Loan - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Servicing Asset at Fair Value, Amount [Roll Forward]
Fair value at the beginning of period	$ 1,989	$ 78	$ 3,489	$ 0
Addition:
Servicing resulting from transfers of financial assets	717	1,466	2,272	1,544
Changes in fair value:
Change in inputs or assumptions used in the valuation model	0	972	0	972
Changes in fair value	(1,019)	(264)	(4,074)	(264)
Fair value at the end of period (Level 3)	$ 1,687	$ 2,252	$ 1,687	$ 2,252

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Deferred Debt Issuance Cost		$ (4,200)
Partner Synthetic Participations
Debt Instrument [Line Items]
Outstanding debt, gross	$ 3,575	6,861
Funding debt
Debt Instrument [Line Items]
Outstanding debt, gross	656,922	380,112
Deferred Debt Issuance Cost	(5,169)	(4,222)
Outstanding debt, net	$ 651,753	375,890
ODAST II Agreement Due May 2020 | Secured Debt
Debt Instrument [Line Items]
Weighted average interest rate	4.70%
Outstanding debt, gross	$ 250,000	0
ODART Agreement Due September 2017 | Revolving Credit Facility
Debt Instrument [Line Items]
Weighted average interest rate	3.20%
Outstanding debt, gross	$ 106,182	42,090
RAOD Agreement Due May 2017 | Revolving Credit Facility
Debt Instrument [Line Items]
Weighted average interest rate	3.50%
Outstanding debt, gross	$ 99,985	47,465
PORT Agreement Due June 2017 | Revolving Credit Facility
Debt Instrument [Line Items]
Weighted average interest rate	2.80%
Outstanding debt, gross	$ 67,313	59,415
ODAF I Agreement Due August 2018 | Secured Debt
Debt Instrument [Line Items]
Weighted average interest rate	7.80%
Outstanding debt, gross	$ 64,521	0
ODAC Agreement Due May 2017 | Revolving Credit Facility
Debt Instrument [Line Items]
Weighted average interest rate	9.80%
Outstanding debt, gross	$ 59,888	27,699
SBAF Agreement Due April 2016 through August 2017 | Revolving Credit Facility
Debt Instrument [Line Items]
Weighted average interest rate	6.50%
Outstanding debt, gross	$ 5,458	12,783
ODAP Agreement Due August 2017 | Revolving Credit Facility
Debt Instrument [Line Items]
Weighted average interest rate	5.00%
Outstanding debt, gross	$ 0	8,819
ODAST Agreement Due May 2018 | Secured Debt
Debt Instrument [Line Items]
Weighted average interest rate	0.00%
Outstanding debt, gross	$ 0	174,980
Corporate Debt
Debt Instrument [Line Items]
Outstanding debt, net	$ 12,700	2,695
Corporate Debt | Revolving Credit Facility
Debt Instrument [Line Items]
Weighted average interest rate	4.50%
Outstanding debt, gross	$ 12,700	2,700
Deferred Debt Issuance Cost	$ 0	$ (5)

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)	Aug. 19, 2016	Jun. 17, 2016	May 17, 2016	Apr. 28, 2016	Apr. 27, 2016	Sep. 30, 2016	Sep. 30, 2015	Jun. 16, 2016
Debt Instrument [Line Items]
Amortization of debt issuance costs						$ 3,733,000	$ 2,130,000
Revolving Credit Facility | ODAC Agreement Due May 2017
Debt Instrument [Line Items]
Borrowing base, percent				75.00%	70.00%
Revolving Credit Facility | ODART Agreement Due September 2017
Debt Instrument [Line Items]
Line of credit		$ 162,400,000						$ 150,000,000
Borrowing base, percent		92.00%
Line of credit facility, increase (decrease), net		$ 12,400,000
Revolving Credit Facility | ODART Agreement Due September 2017 | LIBOR
Debt Instrument [Line Items]
Variable interest spread		8.00%
Revolving Credit Facility | ODAF I Agreement Due August 2018
Debt Instrument [Line Items]
Line of credit	$ 100,000,000
Borrowing base, percent	80.00%
Revolving Credit Facility | ODAF I Agreement Due August 2018 | LIBOR
Debt Instrument [Line Items]
Variable interest spread	7.25%
Secured Debt | ODAST II Agreement Due May 2020
Debt Instrument [Line Items]
Repayment of debt			$ 250,000,000
Secured Debt | ODAST II Agreement Due May 2020 - Class A
Debt Instrument [Line Items]
Repayment of debt			$ 211,500,000
Stated interest rate			4.21%
Secured Debt | ODAST II Agreement Due May 2020 - Class B
Debt Instrument [Line Items]
Repayment of debt			$ 38,500,000
Stated interest rate			7.63%
Secured Debt | ODAST Agreement Due May 2018
Debt Instrument [Line Items]
Repayment of debt			$ 175,000,000
ODAC | Revolving Credit Facility | ODAC Agreement Due May 2017
Debt Instrument [Line Items]
Line of credit				$ 75,000,000	$ 50,000,000
ODAC | Revolving Credit Facility | ODAC Agreement Due May 2017 | LIBOR
Debt Instrument [Line Items]
Variable interest spread				9.25%	8.25%
Interest Expense | Secured Debt | ODAST Agreement Due May 2018
Debt Instrument [Line Items]
Amortization of debt issuance costs						$ 1,600,000

Fair Value of Financial Instr35

Fair Value of Financial Instruments (Assets and Liabilities Measured on Recurring Basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 0	$ 0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	887,855	546,503
Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Servicing assets	1,687	3,489
Total assets	1,687	3,489
Recurring Basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Servicing assets	0	0
Total assets	0	0
Recurring Basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Servicing assets	0	0
Total assets	0	0
Recurring Basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Servicing assets	1,687	3,489
Total assets	$ 1,687	$ 3,489

Fair Value of Financial Instr36

Fair Value of Financial Instruments (Servicing Rights) (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Minimum
Servicing Assets at Fair Value [Line Items]
Discount rate	30.00%	30.00%
Cost of service	0.09%	0.09%
Renewal rate	50.47%	31.78%
Default rate	10.12%	6.43%
Maximum
Servicing Assets at Fair Value [Line Items]
Discount rate	30.00%	30.00%
Cost of service	0.12%	0.09%
Renewal rate	57.33%	53.21%
Default rate	10.72%	10.36%
Weighted-Average
Servicing Assets at Fair Value [Line Items]
Discount rate	30.00%	30.00%
Cost of service	0.11%	0.09%
Renewal rate	53.40%	53.21%
Default rate	10.33%	10.00%

Fair Value of Financial Instr37

Fair Value of Financial Instruments (Servicing Assets) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Default rate assumption, Default rate increase of 25%	25.00%	25.00%
Default rate assumption, Default rate increase of 50%	50.00%	50.00%
Cost to service assumption, Cost to service increase by 25%	25.00%	25.00%
Cost to service assumption, Cost to service increase by 50%	50.00%	50.00%
Default rate increase of 25%	$ (107)	$ (145)
Default rate increase of 50%	(207)	(282)
Cost to service increase by 25%	(57)	(79)
Cost to service increase by 50%	$ (114)	$ (159)

Fair Value of Financial Instr38

Fair Value of Financial Instruments (Assets and Liabilities Measured at Fair Value) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for investment	$ 0	$ 0
Loans held for sale	0	0
Total assets	0	0
Fixed-rate debt	0	0
Total fixed-rate debt	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for investment	0	0
Loans held for sale	0	0
Total assets	0	0
Fixed-rate debt	0	0
Total fixed-rate debt	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for investment	886,816	545,740
Loans held for sale	1,039	763
Total assets	887,855	546,503
Fixed-rate debt	245,852	190,411
Total fixed-rate debt	245,852	190,411
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for investment	817,959	499,431
Loans held for sale	986	706
Total assets	818,945	500,137
Fixed-rate debt	259,033	194,624
Total fixed-rate debt	259,033	194,624
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for investment	886,816	545,740
Loans held for sale	1,039	763
Total assets	887,855	546,503
Fixed-rate debt	245,852	190,411
Total fixed-rate debt	$ 245,852	$ 190,411

Noncontrolling Interest (Detail

Noncontrolling Interest (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			$ 329,422	$ 310,605
Net income (loss)	$ (17,173)	$ 3,507	(49,022)	2,912
Stock-based compensation			11,399	8,065
Employee stock purchase plan			3,996
Cumulative translation adjustment	210	(1,215)	393	(1,215)
Exercise of options and warrants			168	2,422
Purchase of shares for treasury			(576)
OnDeck Australia capitalization				6,870
Other				(183)
Ending balance	295,780	329,476	295,780	329,476
Comprehensive income (loss):
Net income (loss)	(17,173)	3,507	(49,022)	2,912
Foreign currency translation adjustment	210	(1,215)	393	(1,215)
Comprehensive income (loss):	(16,963)	2,292	(48,629)	1,697
On Deck Capital, Inc.'s stockholders' equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			322,813	310,605
Net income (loss)			(47,102)	3,370
Stock-based compensation			11,399	8,065
Employee stock purchase plan			3,996
Cumulative translation adjustment			216	(669)
Exercise of options and warrants			168	2,422
Purchase of shares for treasury			(576)
OnDeck Australia capitalization				0
Other				(183)
Ending balance	290,914	323,610	290,914	323,610
Comprehensive income (loss):
Net income (loss)			(47,102)	3,370
Foreign currency translation adjustment			216	(669)
Comprehensive income (loss):			(46,886)	2,701
Noncontrolling interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			6,609	0
Net income (loss)			(1,920)	(458)
Stock-based compensation			0	0
Employee stock purchase plan			0
Cumulative translation adjustment			177	(546)
Exercise of options and warrants			0	0
Purchase of shares for treasury			0
OnDeck Australia capitalization				6,870
Other				0
Ending balance	$ 4,866	$ 5,866	4,866	5,866
Comprehensive income (loss):
Net income (loss)			(1,920)	(458)
Foreign currency translation adjustment			177	(546)
Comprehensive income (loss):			$ (1,743)	$ (1,004)

Noncontrolling Interest (Narrat

Noncontrolling Interest (Narrative) (Details)	Sep. 30, 2015	Jun. 30, 2015
Noncontrolling Interest [Line Items]
Noncontrolling interest, ownership percentage by parent	67.00%
Noncontrolling interest, ownership percentage by noncontrolling owners	33.00%
OnDeck Australia
Noncontrolling Interest [Line Items]
Noncontrolling interest, ownership percentage by parent		55.00%
Noncontrolling interest, ownership percentage by noncontrolling owners		45.00%

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary of Option Activity) (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Beginning Balance, Outstanding, Number of Options (in shares) | shares	10,711,324
Granted, Number of Options (in shares) | shares	2,022,999
Exercised, Number of Options (in shares) | shares	(420,846)
Forfeited, Number of Options (in shares) | shares	(234,919)
Expired, Number of Options (in shares) | shares	(81,007)
Ending Balance, Outstanding, Number of Options (in shares) | shares	11,997,551
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Beginning Balance, Outstanding, Weighted-Average Exercise Price (USD per share) | $ / shares	$ 6.16
Granted, Weighted-Average Exercise Price (USD per share) | $ / shares	5.98
Exercised, Weighted-Average Exercise Price (USD per share) | $ / shares	0.59
Forfeited, Weighted-Average Exercise Price (USD per share) | $ / shares	9.47
Expired, Weighted-Average Exercise Price (USD per share) | $ / shares	12.59
Ending Balance, Outstanding, Weighted-Average Exercise Price (USD per share) | $ / shares	$ 6.20
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Outstanding, Weighted-Average Remaining Contractual Term (in years)	7 years 6 months 26 days
Outstanding, Aggregate Intrinsic Value | $	$ 25,101
Exercisable, Number of Options (in shares) | shares	6,629,040
Exercisable, Weighted-Average Exercise Price (USD per share) | $ / shares	$ 4.51
Exercisable, Weighted-Average Remaining Contractual Term (in years)	6 years 8 months 27 days
Exercisable, Aggregate Intrinsic Value | $	$ 21,610
Vested or expected to vest, Number of Options (in shares) | shares	11,721,660
Vested or expected to vest, Weighted-Average Exercise Price (USD per share) | $ / shares	$ 6.16
Vested or expected to vest, Weighted-Average Remaining Contractual Term (in years)	7 years 6 months 26 days
Vested or expected to vest, Aggregate Intrinsic Value | $	$ 25,063

Stock-Based Compensation (Optio

Stock-Based Compensation (Options) (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Compensation cost for nonvested option awards not yet recognized	$ 19.3		$ 19.3
Weighted-average recognition period			2 years 5 months 19 days
Aggregate intrinsic value	$ 0.9	$ 1.8	$ 2.4	$ 9.7

Stock-Based Compensation (Restr

Stock-Based Compensation (Restricted Stock Unit Activity) (Details)	9 Months Ended
	Sep. 30, 2016$ / sharesshares
Restricted stock and RSU's
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested, Number of RSUs, Beginning Balance (in shares) | shares	1,853,452
RSUs vested, Number of RSUs (in shares) | shares	(292,595)
RSUs forfeited/expired, Number of RSUs (in shares) | shares	(327,180)
Unvested, Number of RSUs, Ending Balance (in shares) | shares	4,225,480
Expected to vest, Number of RSUs (in shares) | shares	3,438,805
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Unvested, Weighted-Average Grant Date Fair Value, Beginning Balance (USD per share) | $ / shares	$ 12.85
RSUs vested, Weighted-Average Grant Date Fair Value (USD per share) | $ / shares	14.88
RSUs forfeited/expired, Weighted-Average Grant Date Fair Value (USD per share) | $ / shares	10.52
Unvested, Weighted-Average Grant Date Fair Value, Ending Balance (USD per share) | $ / shares	8.48
Expected to vest, Weighted-Average Grant Date Fair Value (USD per share) | $ / shares	$ 9.17
Restricted Stock Units (RSUs) and Performance Based Restricted Stock Units (PRSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
RSUs granted, Number of RSUs (in shares) | shares	2,991,803
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
RSUs granted, Weighted-Average Grant Date Fair Value (USD per share) | $ / shares	$ 6.62

Stock-Based Compensation (Res44

Stock-Based Compensation (Restricted Stock Units) (Narrative) (Details) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognition period	2 years 5 months 19 days
Performance Based Restricted Stock Units (PRSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PRSUs granted, Number of PRSUs (in shares) | shares	194,207
PRSUs granted, Weighted-Average Grant Date Fair Value (USD per share) | $ / shares	$ 5.95
Ratio Eligible for Possible Vesting of PRSUs	0.3333
Maximum Earnings, Percentage of Baseline Awards	150.00%
Performance Period	12 months
Restricted Stock Units (RSUs) and Performance Based Restricted Stock Units (PRSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PRSUs granted, Number of PRSUs (in shares) | shares	2,991,803
PRSUs granted, Weighted-Average Grant Date Fair Value (USD per share) | $ / shares	$ 6.62
Unrecognized compensation cost | $	$ 23.9
Recognition period	3 years 1 month 24 days

Stock-Based Compensation (Stock

Stock-Based Compensation (Stock-based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 3,761	$ 3,707	$ 11,423	$ 8,065
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	920	1,012	2,749	2,180
Technology and analytics
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	793	778	2,437	1,719
Processing and servicing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	227	227	781	530
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 1,821	$ 1,690	$ 5,456	$ 3,636

Commitments and Contingencies (

Commitments and Contingencies (Details) - lawsuit	Feb. 18, 2016	Aug. 31, 2015
Pending Litigation
Loss Contingencies [Line Items]
Number of putative class actions filed (in lawsuits)	2	2