On Deck Capital (ONDK) 10-Q 7 Aug 20 2020 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2020	Jul. 31, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	001-36779
Entity Registrant Name	On Deck Capital, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	42-1709682
Entity Address, Address Line One	1400 Broadway
Entity Address, Address Line Two	25th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10018
City Area Code	888
Local Phone Number	269-4246
Title of 12(b) Security	Common Stock, par value $0.005 per share
Trading Symbol	ONDK
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		58,921,292
Entity Central Index Key	0001420811
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 71,659	$ 56,344
Restricted cash	77,930	40,524
Loans and finance receivables	901,126	1,265,312
Less: Allowance for credit losses	(173,607)	(151,133)
Loans and finance receivables, net	727,519	1,114,179
Property, equipment and software, net	24,629	20,332
Other assets	66,861	73,204
Total assets	968,598	1,304,583
Liabilities:
Accounts payable	7,665	6,470
Interest payable	2,043	2,334
Debt	680,371	914,995
Accrued expenses and other liabilities	52,563	70,110
Total liabilities	742,642	993,909
Commitments and contingencies (Note 11)
Mezzanine equity:
Redeemable noncontrolling interest	6,888	14,428
Stockholders’ equity:
Common stock—$0.005 par value, 1,000,000,000 shares authorized and 80,745,115 and 80,095,061 shares issued and 58,916,996 and 66,363,555 outstanding at June 30, 2020 and December 31, 2019, respectively.	408	405
Treasury stock—at cost	(82,503)	(49,641)
Additional paid-in capital	516,892	513,571
Accumulated deficit	(215,339)	(169,002)
Accumulated other comprehensive loss	(1,985)	(1,333)
Total On Deck Capital, Inc. stockholders' equity	217,473	294,000
Noncontrolling interest	1,595	2,246
Total stockholders' equity	219,068	296,246
Total liabilities, mezzanine equity and stockholders' equity	$ 968,598	$ 1,304,583

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value (in dollars 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)	80,745,115	80,095,061
Common stock, shares outstanding (in shares)	58,916,996	66,363,555

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue:
Interest and finance income	$ 78,308,000	$ 105,641,000	$ 185,243,000	$ 211,440,000
Interest expense	10,291,000	11,381,000	21,860,000	22,713,000
Net interest income	68,017,000	94,260,000	163,383,000	188,727,000
Provision for credit losses	23,720,000	42,951,000	131,627,000	86,242,000
Net interest income (loss), after credit provision	44,297,000	51,309,000	31,756,000	102,485,000
Other revenue	2,217,000	4,605,000	5,837,000	8,781,000
Operating expense:
Sales and marketing	5,473,000	13,307,000	17,137,000	25,267,000
Technology and analytics	15,088,000	16,681,000	31,572,000	33,487,000
Processing and servicing	5,452,000	5,609,000	12,141,000	11,098,000
General and administrative	13,664,000	16,353,000	29,944,000	30,382,000
Total operating expense	39,677,000	51,950,000	90,794,000	100,234,000
Goodwill Impairment	10,960,000	0	10,960,000	0
Income (loss) from operations, before provision for income taxes	(4,123,000)	3,964,000	(64,161,000)	11,032,000
Provision for (Benefit from) income taxes	0	1,796,000	0	3,536,000
Net income (loss)	(4,123,000)	2,168,000	(64,161,000)	7,496,000
Less: Net income (loss) attributable to noncontrolling interest	(6,293,000)	(2,127,000)	(7,356,000)	(2,465,000)
Net income (loss) attributable to On Deck Capital, Inc. common stockholders	$ 2,170,000	$ 4,295,000	$ (56,805,000)	$ 9,961,000
Net income (loss) per share attributable to On Deck Capital, Inc. common stockholders:
Basic (in dollars per share)	$ 0.04	$ 0.06	$ (0.94)	$ 0.13
Diluted (in dollars per share)	$ 0.04	$ 0.05	$ (0.94)	$ 0.13
Weighted-average common shares outstanding:
Basic (in shares)	58,741,590	76,137,751	60,625,795	75,840,604
Diluted (in shares)	59,946,591	78,901,601	60,625,795	79,013,757
Comprehensive income (loss):
Net income (loss)	$ (4,123,000)	$ 2,168,000	$ (64,161,000)	$ 7,496,000
Other comprehensive income (loss):
Foreign currency translation adjustment	1,220,000	405,000	(1,993,000)	771,000
Unrealized gain (loss) on derivative instrument	234,000	(124,000)	504,000	(866,000)
Comprehensive income (loss)	(2,669,000)	2,449,000	(65,650,000)	7,401,000
Less: Comprehensive income (loss) attributable to noncontrolling interests	516,000	(58,000)	(837,000)	(32,000)
Net Income (loss)	(6,293,000)	(2,127,000)	(7,356,000)	(2,465,000)
Comprehensive income (loss) attributable to On Deck Capital, Inc. common stockholders	$ 3,108,000	$ 4,634,000	$ (57,457,000)	$ 9,898,000

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Changes in Equity and Redeemable Noncontrolling Interest - USD ($) $ in Thousands	Total	Total Stockholders' Equity	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Treasury Stock	Accumulated Other Comprehensive Income (Loss)	Noncontrolling interest	Redeemable Noncontrolling Interest	Transition to ASU 2016-13 Adjustment	Transition to ASU 2016-13 AdjustmentTotal Stockholders' Equity	Transition to ASU 2016-13 AdjustmentAccumulated Deficit
Beginning balance (in shares) at Dec. 31, 2018			75,375,341
Beginning balance at Dec. 31, 2018	$ 302,485	$ 297,952	$ 396	$ 502,003	$ (196,959)	$ (5,656)	$ (1,832)	$ 4,533	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	2,743	2,743		2,743
Issuance of common stock through vesting of restricted stock units and option exercises (in shares)			264,364
Issuance of common stock through vesting of restricted stock units and option exercises	47	47	$ 2	45
Employee stock purchase plan (in shares)			267,688
Employee stock purchase plan	1,660	1,660	$ 1	1,659
Tax withholding related to vesting of restricted stock units	(291)	(291)		(291)
Currency translation adjustment	366	340					340	26
Cash flow hedge and other	(742)	(742)					(742)
Net Income (loss)	5,328	5,666			5,666			(338)
Ending balance (in shares) at Mar. 31, 2019			75,907,393
Ending balance at Mar. 31, 2019	311,596	307,375	$ 399	506,159	(191,293)	(5,656)	(2,234)	4,221	0
Beginning balance (in shares) at Dec. 31, 2018			75,375,341
Beginning balance at Dec. 31, 2018	$ 302,485	297,952	$ 396	502,003	(196,959)	(5,656)	(1,832)	4,533	0
Ending balance (in shares) at Dec. 31, 2019	66,363,555		66,363,555
Ending balance at Dec. 31, 2019	$ 296,246	294,000	$ 405	513,571	(169,002)	(49,641)	(1,333)	2,246	14,428	$ 10,468	$ 10,468	$ 10,468
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Beginning balance (in shares) at Mar. 31, 2019			75,907,393
Beginning balance at Mar. 31, 2019	$ 311,596	307,375	$ 399	506,159	(191,293)	(5,656)	(2,234)	4,221	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	2,965	2,965		2,965
Issuance of common stock through vesting of restricted stock units and option exercises (in shares)			393,994
Issuance of common stock through vesting of restricted stock units and option exercises	28	28	$ 2	26
Employee stock purchase plan	335	335		335
Tax withholding related to vesting of restricted stock units	(844)	(844)		(844)
Fair value of redeemable noncontrolling interest resulting from business combination									16,444
Currency translation adjustment	414	463					463	(49)	(9)
Cash flow hedge and other	(133)	(133)			1		(123)
Net Income (loss)	3,481	4,295			4,295			(814)
Net Income (loss)									(1,313)
Ending balance (in shares) at Jun. 30, 2019			76,301,387
Ending balance at Jun. 30, 2019	$ 317,842	314,484	$ 401	508,630	(186,997)	(5,656)	(1,894)	3,358	15,122
Beginning balance (in shares) at Dec. 31, 2019	66,363,555		66,363,555
Beginning balance at Dec. 31, 2019	$ 296,246	294,000	$ 405	513,571	(169,002)	(49,641)	(1,333)	2,246	14,428	10,468	10,468	10,468
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	1,738	1,738		1,738
Issuance of common stock through vesting of restricted stock units and option exercises (in shares)			152,362
Issuance of common stock through vesting of restricted stock units and option exercises	16	16	$ 1	15
Employee stock purchase plan	(310)	(310)		(310)
Repurchases of Common Stock (in shares)			(8,096,613)
Repurchases of Common Stock	(32,862)	(32,862)				(32,862)
Tax withholding related to vesting of restricted stock units	(229)	(229)		(229)
Currency translation adjustment	(2,113)	(1,860)					(1,860)	(253)	(1,100)
Cash flow hedge and other	272	270					270	2
Net Income (loss)	(59,822)	(58,975)			(58,975)			(847)
Net Income (loss)									(216)
Ending balance (in shares) at Mar. 31, 2020			58,419,304
Ending balance at Mar. 31, 2020	$ 213,404	212,256	$ 406	514,785	(217,509)	(82,503)	(2,923)	1,148	13,112
Beginning balance (in shares) at Dec. 31, 2019	66,363,555		66,363,555
Beginning balance at Dec. 31, 2019	$ 296,246	294,000	$ 405	513,571	(169,002)	(49,641)	(1,333)	2,246	14,428	$ 10,468	$ 10,468	$ 10,468
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchases of Common Stock (in shares)	(8,096,613)
Repurchases of Common Stock	$ (32,900)
Ending balance (in shares) at Jun. 30, 2020	58,916,996		58,916,996
Ending balance at Jun. 30, 2020	$ 219,068	217,473	$ 408	516,892	(215,339)	(82,503)	(1,985)	1,595	6,888
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Beginning balance (in shares) at Mar. 31, 2020			58,419,304
Beginning balance at Mar. 31, 2020	$ 213,404	212,256	$ 406	514,785	(217,509)	(82,503)	(2,923)	1,148	13,112
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	2,305	2,305		2,305
Issuance of common stock through vesting of restricted stock units and option exercises (in shares)			497,692
Issuance of common stock through vesting of restricted stock units and option exercises	$ 1	1	$ 2	(1)
Repurchases of Common Stock (in shares)	0
Tax withholding related to vesting of restricted stock units	$ (198)	(198)		(198)
Currency translation adjustment	832	704					704	128	388
Cash flow hedge and other	235	235		1			234
Net Income (loss)	$ 2,489	2,170			2,170			319
Net Income (loss)									(6,612)
Ending balance (in shares) at Jun. 30, 2020	58,916,996		58,916,996
Ending balance at Jun. 30, 2020	$ 219,068	$ 217,473	$ 408	$ 516,892	$ (215,339)	$ (82,503)	$ (1,985)	$ 1,595	$ 6,888

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities
Net income (loss)	$ (64,161)	$ 7,496
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Provision for credit losses	131,627	86,242
Depreciation and amortization	3,271	3,574
Amortization of debt issuance costs	2,572	1,573
Stock-based compensation	3,663	6,331
Amortization of net deferred origination costs	27,579	35,277
Changes in servicing rights, at fair value	0	69
Unfunded loan commitment reserve	0	452
Loss on disposal of fixed assets	0	1,537
Amortization of intangibles	242	189
Goodwill impairment	10,960	0
Changes in operating assets and liabilities:
Other assets	(5,051)	(9,595)
Accounts payable	1,267	1,499
Interest payable	(287)	302
Accrued expenses and other liabilities	(10,693)	1,613
Net cash provided by operating activities	100,989	136,559
Cash flows from investing activities
Purchases of property, equipment and software	(2,886)	(1,360)
Capitalized internal-use software	(4,673)	(4,220)
Originations of loans and finance receivables, excluding rollovers into new originations	(567,238)	(1,029,348)
Payments of net deferred origination costs	(19,230)	(33,505)
Principal repayments of loans and finance receivables	813,128	946,025
Acquisition of shares in business combination	0	(3,004)
Net cash provided by (used in) investing activities	219,101	(125,412)
Cash flows from financing activities
Tax withholding related to vesting of restricted stock units	(427)	(1,135)
Repurchases of common stock	(32,862)	0
Proceeds from exercise of stock options	17	71
Issuance of common stock under employee stock purchase plan	0	1,281
Proceeds from the issuance of debt	274,429	355,840
Payments of debt issuance costs	(661)	(2,812)
Repayments of debt principal	(508,363)	(359,392)
Net cash (used in) provided by financing activities	(267,867)	(6,147)
Effect of exchange rate changes on cash and cash equivalents	498	(558)
Net increase (decrease) in cash, cash equivalents and restricted cash	52,721	4,442
Cash and cash equivalents at beginning of period	96,868	97,638
Cash and cash equivalents at end of period	149,589	102,080
Reconciliation to amounts on consolidated balance sheets
Total cash, cash equivalents and restricted cash	149,589	102,080
Supplemental disclosure of other cash flow information
Cash paid for interest	19,077	20,038
Cash paid for income taxes	67	8,496
Supplemental disclosures of non-cash investing and financing activities
Stock-based compensation included in capitalized internal-use software	70	109
Unpaid principal balance of term loans rolled into new originations	$ 88,667	$ 198,319

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
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 Canada and Australia, through term loans, lines of credit, equipment finance loans and additionally in Canada through a variable pay product. 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 an issuing bank partner. We subsequently transfer most of our loan volume into one of our wholly-owned subsidiaries for financing purposes. In October 2018, we announced the launch of ODX, a wholly-owned subsidiary that helps banks digitize their small business lending process. ODX offers a combination of software, analytic insights, and professional services that allow banks to bring their small business lending process online. In April 2019, we combined our Canadian operations with Evolocity Financial Group, or Evolocity, to create a new holding company in which we own a 58.5% majority interest. We have accounted for this transaction as a business combination and have consolidated the financial position and results of operations of the holding company. The noncontrolling interest has been classified as mezzanine equity because it was deemed to be a redeemable noncontrolling interest. See Note 9 for further discussion. Basis of Presentation and Principles of Consolidation We prepare our consolidated financial statements and footnotes 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. All intercompany transactions and accounts have been eliminated in consolidation. When used in these notes to consolidated financial statements, the terms "we," "us," "our" or similar terms refer to On Deck Capital, Inc. and its consolidated subsidiaries. At December 31, 2019, we changed the presentation of the revenue portion of our Consolidated Statements of Operations and Comprehensive Income to present new line items for "Net interest income" and "Net interest revenue, after credit provision" and "Total non-interest income." We no longer present the line items, "Gross revenue," "Total cost of revenue" and "Net revenue." "Gains on sales of loans" and "Other revenue" for the periods ended June 30, 2019, which were previously reported as components of "Gross revenue", have been recast to be presented as components of "Total non-interest income". "Interest expense" and "Provision for credit losses" for the periods ended June 30, 2019, which were previously reported as components of "Total cost of revenue", have been recast to be presented as components of "Net interest income" and "Net interest revenue, after credit provision", respectively. The change in presentation had no effect on our "Income (loss) from operations, before provision for income taxes" or "Net income (loss)". The new presentation solely repositions our existing financial statement line items and does not create any new financial statement line items except for new subtotals. The change was made to better align with industry standards and to reflect key metrics which we use to measure our business. 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 consolidated financial statements and accompanying notes. Significant estimates include allowance for credit losses, stock-based compensation expense, capitalized software development costs, the useful lives of long-lived assets, goodwill, our effective income tax rate and valuation allowance for deferred tax assets. We base our estimates on historical experience, current events and other factors we believe to be reasonable under the circumstances. These estimates and assumptions are inherently subjective in nature; actual results may differ from these estimates and assumptions. Recently Adopted Accounting Standards In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments . ASU 2016-13 which changed 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 replaced the incurred loss model used previously. We adopted the new standard effective January 1, 2020. Upon adoption, the $7 million liability for unfunded line of credit commitments previously included in Other liabilities was released and other transition related adjustments to the allowance for credit losses were $3 million . On January 1, 2020, the transition adjustments of a total of $10 million were recorded against retained earnings. In January 2017, the FASB issued ASU 2017-04, Intangibles-Goodwill and Other: Simplifying the Test for Goodwill Impairment , which eliminated the requirement to determine the fair value of individual assets and liabilities of a reporting unit to measure goodwill impairment. Under the amendments in the new ASU, goodwill impairment testing will be performed by comparing the fair value of the reporting unit with its carrying amount and recognizing an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. We adopted the new standard prospectively on January 1, 2020 and it did not have a material impact on our unaudited consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement, which modifies disclosure requirements for fair value measurements under ASC 820, Fair Value Measurement. We adopted the new standard effective January 1, 2020 and the adoption did not have a material impact on our unaudited consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract, which requires implementation costs incurred by customers in cloud computing arrangements to be deferred over the noncancellable term of the cloud computing arrangements plus any optional renewal periods (1) that are reasonably certain to be exercised by the customer or (2) for which exercise of the renewal option is controlled by the cloud service provider. We adopted the new standard effective January 1, 2020 utilizing the prospective transition approach and the adoption did not have a material impact on our unaudited consolidated financial statements. COVID-19 Pandemic On March 11, 2020, the World Health Organization declared the current COVID-19 outbreak to be a global pandemic, which led to governmental requirements or recommendations for “non-essential” businesses to temporarily close or severely limit their operations. Our small business customers have been directly or indirectly affected by the COVID-19 pandemic due to the closures and reduced customer demand. During the second quarter of 2020, the COVID-19 pandemic continued to negatively impact our small business customers. We have included the COVID-19 impacts as part of our calculation of the allowance for credit losses for the quarters ended March 31, 2020 and June 30, 2020. See Note 4. The pandemic is having unprecedented negative economic consequences. We have changed our near-term priorities to actively monitor and respond to the impacts that COVID-19 is having on our business and customers. See Part I, Item 2- "Management's Discussion and Analysis of Financial Condition and Results of Operations" for more detail. It is currently unclear what the full impact of COVID-19, will be on our business, cash flows, available liquidity, financial condition, and results of operations, due to the many material uncertainties that continue to exist. Definitive Agreement with Enova International On July 28, 2020, we entered into a definitive agreement with Enova International, or Enova, under which Enova will acquire all of our outstanding shares in a cash and stock transaction. Under the terms of the agreement, our shareholders will receive $ 0.12 cents per share in cash and 0.092 shares of Enova common stock for each share of OnDeck common stock held. The transaction has been unanimously approved by the boards of directors of both companies and is subject to our shareholder approval and Hart-Scott-Rodino Act approval, along with customary closing conditions. The transaction is expected to close this year. Enova is a leading provider of online financial services to non-prime consumers and small businesses, providing access to credit powered by its advanced analytics, innovative technology, and world-class online platform and services. Revision of Prior Period Financial Statements During the second quarter of 2019, we identified an immaterial error in our historical financial statements relating to the accrual of commissions on a portion of our renewal loans. The aggregate amount of the under-accrual was $2.4 million , approximately 90% of which relates to 2015 and subsequent periods, and represents less than 1% , of our total stockholders’ equity at March 31, 2019. The amount of the error in each of the impacted annual and interim periods was less than 1% of total commissions paid for such period. In accordance with the SEC’s SAB No. 99, “Materiality,” and SAB No. 108, “Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements,” we evaluated the error and concluded that the impact was not material to our financial statements for any prior annual or interim period. There was no impact to the financial statements or earnings per share for any period presented

Net Income (Loss) Per Common Sh

Net Income (Loss) Per Common Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Net Income (Loss) Per Common Share	Net Income (Loss) Per Common Share Basic and diluted net income (loss) per common share is calculated as follows (in thousands, except share and per share data): Three Months Ended June 30, Six Months Ended, June 30, 2020 2019 2020 2019 Numerator: Net Income (loss) $ (4,123 ) $ 2,168 $ (64,161 ) $ 7,496 Less: Net income (loss) attributable to noncontrolling interest (6,293 ) (2,127 ) (7,356 ) (2,465 ) Net income (loss) attributable to On Deck Capital, Inc. common stockholders $ 2,170 $ 4,295 $ (56,805 ) $ 9,961 Denominator: Weighted-average common shares outstanding, basic 58,741,590 76,137,751 60,625,795 75,840,604 Net income (loss) per common share, basic $ 0.04 $ 0.06 $ (0.94 ) $ 0.13 Effect of dilutive securities 1,205,001 2,763,850 — 3,173,153 Weighted-average common shares outstanding, diluted 59,946,591 78,901,601 60,625,795 79,013,757 Net income (loss) per common share, diluted $ 0.04 $ 0.05 $ (0.94 ) $ 0.13 Anti-dilutive securities excluded 8,806,925 6,747,782 8,428,661 5,591,794 The difference between basic and diluted net income per common share has been calculated using the Treasury Stock Method based on the assumed exercise of outstanding stock options, the vesting of restricted stock units, or RSUs, performance restricted stock units, or PRSUs, and the issuance of stock under our employee stock purchase plan. Changes in the average market price of our stock can impact when stock equivalents are considered dilutive or anti-dilutive. For example, in periods of a declining stock price, stock equivalents have a greater likelihood of being recharacterized from dilutive to anti-dilutive. The following common share equivalent securities have been included in the calculation of dilutive weighted-average common shares outstanding: Three Months Ended June 30, Six Months Ended, June 30, Dilutive Common Share Equivalents 2020 2019 2020 2019 Weighted-average common shares outstanding 58,741,590 76,137,751 60,625,795 75,840,604 RSUs and PRSUs 239,187 489,080 — 755,731 Stock options 965,814 2,274,770 — 2,413,951 Employee stock purchase plan — — — 3,471 Total dilutive common share equivalents 59,946,591 78,901,601 60,625,795 79,013,757 The following common share equivalent securities were excluded from the calculation of diluted net income per share attributable to common stockholders. Their effect would have been antidilutive for the three and six months ended June 30, 2020 and 2019 . Three Months Ended June 30, Six Months Ended, June 30, 2020 2019 2020 2019 Anti-Dilutive Common Share Equivalents RSUs and PRSUs 4,806,354 2,361,583 4,428,090 1,633,192 Stock options 4,000,571 4,176,551 4,000,571 3,958,602 Employee stock purchase plan — 209,648 — — Total anti-dilutive common share equivalents 8,806,925 6,747,782 8,428,661 5,591,794 On July 29, 2019 we announced that our Board of Directors authorized the repurchase of up to $50 million of common stock with the repurchased shares to be retained as treasury stock and available for possible reissuance. Any share repurchases under the program will be made from time to time in the open market, in privately negotiated transactions or otherwise. The timing and amount of any share repurchases will be subject to market conditions and other factors as we may determine.We fully utilized the authorization of $50 million shares. On February 11, 2020 we announced that our Board of Directors authorized the repurchase of up to an additional $50 million of common stock under the repurchase program described above, with no expiration on the additional authorization. In late February 2020, we suspended repurchase activity under our program as part of our focus on liquidity and capital preservation. As such, we did no t repurchase any shares during the three months ended June 30, 2020. During the six months ended June 30, 2020 we repurchased 8,096,613 shares of common stock for $32.9 million

Interest Income

Interest Income	6 Months Ended
	Jun. 30, 2020
Banking and Thrift, Interest [Abstract]
Interest Income	Interest Income Interest income was comprised of the following components for the three and six months ended June 30, 2020 and 2019 (in thousands): Three Months Ended June 30, Six Months Ended, June 30, 2020 2019 2020 2019 Interest and finance income $ 90,167 $ 122,799 $ 212,449 $ 246,234 Amortization of net deferred origination costs (12,035 ) (17,451 ) (27,618 ) (35,344 ) Interest and finance income, net 78,132 105,348 184,831 210,890 Interest on deposits and investments 176 293 412 550 Total interest and finance income $ 78,308 $ 105,641 $ 185,243 $ 211,440

Loans and Finance Receivables H

Loans and Finance Receivables Held for Investment and Allowance for Credit Losses	6 Months Ended
	Jun. 30, 2020
Receivables [Abstract]
Loans and Finance Receivables Held for Investment and Allowance for Credit Losses	Loans and Finance Receivables Held for Investment and Allowance for Credit Losses Loans and finance receivables consisted of the following as of June 30, 2020 and December 31, 2019 (in thousands): June 30, 2020 December 31, 2019 Term loans $ 663,600 $ 946,322 Lines of credit 204,487 277,843 Other loans and finance receivables (1) 15,912 14,244 Total Unpaid Principal Balance 883,999 1,238,409 Net deferred origination costs 17,127 26,903 Total loans and finance receivables $ 901,126 $ 1,265,312 (1) Includes loans secured by equipment and our variable pay product in Canada. We include both loans we originate, and loans originated by our issuing bank partner and later purchased by us as part of our originations. During the three months ended June 30, 2020 and 2019 we purchased loans from our issuing bank partner in the amount of $11.9 million and $95.5 million , respectively. During the six months ended June 30, 2020 and 2019 we purchased loans from our issuing bank partner in the amount of $121.6 million and $207.1 million , respectively. We reduced our loan origination volume in response to the increased uncertainties of the COVID-19 pandemic during the second quarter of 2020. As of January 1, 2020, we began to utilize a model that is compliant with t he Current Expected Credit Loss, or CECL, standard . The credit losses on our portfolio are estimated and recognized upon origination, based on expected credit losses for the life of the balance as of the period end date. We evaluate the creditworthiness of our portfolio on a pooled basis based on the product type. We use a proprietary model to project contractual lifetime losses at origination based on our historical lifetime losses of our actual loan performance. Future economic conditions include multiple macroeconomic scenarios provided to us by an independent third party and reviewed by management. These macroeconomic scenarios contain certain variables that are influential to our modelling process, including real gross domestic product and economic indicators such as small business and consumer sentiment and small business demand and performance metrics. We perform a Qualitative Assessment to address possible limitations within the model, and at times when deemed necessary include the Qualitative Assessment to our calculation. Upon adoption, the net change in the required Allowance for credit losses was minimal with a $3 million decrease driven by lower required reserves for lines of credit. Additionally, the $7 million reserve for unfunded line of credit commitments previously included in Other liabilities was released as part of the adoption. Under the new model, w e reserve for the committed debt balance on our outstanding line of credit balances. These changes resulted in a net increase of approximately $10 million in Stockholder's equity on January 1, 2020. We increased our allowance for credit losses at June 30, 2020 compared to December 31, 2019 due to higher expected losses related to the COVID-19 pandemic, and decreased from March 31, 2020, which included a significant reserve build for COVID-impacted loans and decrease originations. Management's consideration at June 30, 2020 included the potential macro-economic impact of continued government-mandated lockdowns for small businesses, expected timing for the reopening of the economy, as well as the effectiveness and length of the government stimulus programs. The change in the allowance for credit losses for the three months ended June 30, 2020 and 2019 consisted of the following (in thousands): Three Months Ended June 30, 2020 2019 Term Loans and Finance Receivables Lines of Credit Total Total Balance at beginning of period $ 156,803 $ 48,900 $ 205,703 $ 147,406 Recoveries of previously charged off amounts 5,142 741 5,883 4,523 Loans and finance receivables charged off (52,667 ) (9,735 ) (62,402 ) (49,141 ) Provision for credit losses 30,826 (7,106 ) 23,720 42,951 Foreign Currency Translation Adjustment 703 — 703 — Allowance for credit losses at end of period $ 140,807 $ 32,800 $ 173,607 $ 145,739 The change in the allowance for credit losses for the six months ended June 30, 2020 and 2019 consisted of the following (in thousands): Six Months Ended June 30, 2020 2019 Term Loans and Finance Receivables Lines of Credit Total Total Balance at beginning of period 116,752 34,381 151,133 $ 140,040 Recoveries of previously charged off amounts 10,184 1,296 11,480 $ 8,437 Loans and finance receivables charged off (98,334 ) (19,296 ) (117,630 ) $ (88,980 ) Provision for credit losses 109,104 22,523 131,627 86,242 Transition to ASU 2016-13 Adjustment 2,800 (6,104 ) (3,304 ) — Foreign Currency Translation Adjustment 301 — 301 — Allowance for credit losses at end of period $ 140,807 $ 32,800 $ 173,607 $ 145,739 When loans and finance receivables are charged off, we typically continue to attempt to recover amounts from the respective borrowers and guarantors, including, when we deem it appropriate, through formal legal action. Alternatively, we may sell previously charged-off loans to third-party debt buyers. The proceeds from these sales are recorded as a component of the recoveries of loans previously charged off. For the six months ended June 30, 2020 loans sold accounted for $0.2 million of recoveries previously charged off. We did no t sell any previously charged-off loans for the six months ended June 30, 2019 . Th e following table contains information regarding the unpaid principal balance we originated related to non-delinquent, paying and non-paying delinquent loans and finance receivables as of June 30, 2020 and December 31, 2019 (in thousands). At June 30, 2020, approximately 60% of the unpaid principal balance of our delinquent loans and finance receivables were making payments. June 30, 2020 Term Loans and Finance Receivables Lines of Credit Total Current loans and finance receivables $ 360,587 $ 141,429 $ 502,016 Delinquent: paying (accrual status) 203,772 37,745 241,517 Delinquent: non-paying (non-accrual status) 115,153 25,313 140,466 Total 679,512 204,487 883,999 December 31, 2019 Term Loans and Finance Receivables Lines of Credit Total Current loans and finance receivables $ 842,083 $ 255,981 $ 1,098,064 Delinquent: paying (accrual status) 33,512 5,002 38,514 Delinquent: non-paying (non-accrual status) 84,971 16,860 101,831 Total $ 960,566 $ 277,843 $ 1,238,409 We consider the delinquency status of our loans and finance receivables as one of our primary credit quality indicators once loans advance beyond the origination underwriting stage. This continues to be a useful metric during the current COVID downturn, although absolute levels of delinquency and roll rates cannot be compared to pre-COVID levels. The following tables show an aging analysis of the unpaid principal balance related to loans and finance receivables and lines of credit, by delinquency statu s and origination year as of June 30, 2020 (in thousands): June 30, 2020 Term Loans and Finance Receivables Lines of Credit Total Origination Year By delinquency status: 2017 and prior 2018 2019 2020 Current loans and finance receivables $ — $ 717 $ 151,093 $ 208,777 $ 141,429 $ 502,016 1-14 calendar days past due — 26 14,523 14,772 3,258 32,579 15-29 calendar days past due — 118 22,607 18,010 5,309 46,044 30-59 calendar days past due — 186 42,124 35,185 10,787 88,282 60-89 calendar days past due — 168 46,597 32,836 13,933 93,534 90 + calendar days past due 424 3,543 69,346 18,460 29,771 121,544 Total unpaid principal balance $ 424 $ 4,758 $ 346,290 $ 328,040 $ 204,487 $ 883,999 At June 30, 2020 the amount of loans that were classified as delinquent, and specifically loans that were classified as 90 plus days past due were at a historical highs, due to the broad-based pressures from COVID-19 that our customers experienced late in the first quarter of 2020 and throughout the second quarter of 2020. The following tables show an aging analysis of the unpaid principal balance related to loans and finance receivables and lines of credit, by delinquency statu s as of December 31, 2019 (in thousands): December 31, 2019 By delinquency status: Term Loans and Finance Receivables Lines of Credit Total Current loans and finance receivables $ 842,083 $ 255,981 $ 1,098,064 1-14 calendar days past due $ 23,426 $ 4,949 28,375 15-29 calendar days past due $ 15,153 $ 2,230 17,383 30-59 calendar days past due $ 20,647 $ 4,419 25,067 60-89 calendar days past due $ 18,527 $ 3,477 22,004 90 + calendar days past due $ 40,730 $ 6,787 47,516 Total unpaid principal balance $ 960,566 $ 277,843 $ 1,238,409 We utilize OnDeck Score, industry data and term length to manage the credit quality and pricing decisions of our portfolio. For our lines of credit, one of our primary credit quality indicators is delinquency, particularly whether they are in a paying or non-paying status. In addition to delinquency, the credit quality of US term loan portfolio is evaluated based on an internally developed credit risk model that assigns a risk grade based on credit bureau data, the OnDeck Score, business specific information and loan details. The risk grade is used in our model to calculate our allowance for credit losses. One of our credit quality indicators is the risk grade that we assign to our US term loan. Additionally, we utilize historical performance on the previous loan for our renewal customers. After grouping the loans according to their term length, they are further divided into the following risk grades based on probability of default. W - lowest risk X - low risk Y - medium risk Z - high risk The following table contains the breakdown of our US Term Loans by the year of origination and our risk grades, at June 30, 2020 (in thousands): June 30, 2020 Origination Year Risk Grade 2020 2019 2018 2017 and prior Total W $ 115,034 $ 116,965 $ 1,284 $ 118 $ 233,401 X 65,508 70,178 1,198 7 136,891 Y 47,918 60,585 1,094 20 109,617 Z 62,230 62,731 641 265 124,867 $ 290,690 $ 310,459 $ 4,217 $ 410 $ 604,776

Debt

Debt	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Debt	Debt The following table summarizes our outstanding debt as of June 30, 2020 and December 31, 2019 (in thousands): Outstanding Type Maturity Date Weighted Average Interest June 30, 2020 December 31, 2019 Debt: OnDeck Asset Securitization Trust II - Series 2018-1 Securitization April 2022 (1) 3.9% $ 159,195 $ 225,000 OnDeck Asset Securitization Trust II - Series 2019-1 Securitization November 2024 (2) 3.1% 101,740 125,000 OnDeck Account Receivables Trust 2013-1 Revolving March 2022 (3) 1.9% 80,295 129,512 Receivable Assets of OnDeck, LLC Revolving September 2021 (4) 1.8% 61,838 94,099 OnDeck Asset Funding II LLC Revolving August 2022 (5) 3.2% 89,798 123,840 Prime OnDeck Receivable Trust II Revolving March 2022 (6) 1.8% — — Loan Assets of OnDeck, LLC Revolving October 2022 (7) 1.9% 65,159 120,665 Corporate line of credit Revolving January 2021 (8) 3.2% 86,875 40,000 International and other agreements Various Various (9) 3.6% 41,216 64,585 3.0% 686,116 922,701 Deferred debt issuance cost (5,745 ) (7,706 ) Total Debt $ 680,371 $ 914,995 (1) The period during which new loans may be purchased under this securitization transaction expired in March 2020 . (2) The period during which new loans may be purchased under this securitization transaction expired in May 2020 . (3) The period during which new borrowings may be made under this facility expires in March 2021 . Amendments were made to this facility on May 20, 2020 and August 3, 2020, which are described below and in Note 13 in further detail. (4) The period during which new borrowings of Class A revolving loans may be made under this debt facility expires in December 2020 . An amendment was made to this facility on May 14, 2020, which is described below in further detail. (5) The period during which new borrowings may be made under this facility expires in August 2021 . An amendment was made to this facility on May 19, 2020, which is described below in further detail. (6) The period during which new borrowings may be made under this facility expires in March 2021 . (7) The period during which new borrowings may be made under this debt facility expires in April 2022 . Amendments were made to the facility on April 27, 2020 and July 15, 2020, which are described below and in Note 13 in further detail. (8) The period during which new borrowings may be made under this facility expired May 2020 . (9) Other Agreements include, among others, our local currency debt facilities in Australia and Canada. The periods during which new borrowings may be made under the various agreements expire between June 2021 and March 2023 . Maturity dates range from December 2021 through March 2023 . Certain of our loans are transferred to our special purpose vehicle subsidiaries and are pledged as collateral for borrowings in our funding debt facilities and for the issuance in our securitization. These loans totaled $0.8 billion and $1.1 billion as of June 30, 2020 and December 31, 2019 , respectively. Our corporate debt facility includes a blanket lien on substantially all of our assets. Recent Amendments to Debt Facilities On April 27, 2020, Loan Assets of OnDeck, LLC, our wholly owned subsidiary, entered into an amendment to further modify its revolving debt facility. The amendment included, among other things, that during the period from April 27, 2020 to July 16, 2020, no borrowing base deficiency will be deemed to occur, and no portfolio performance tests will be conducted until the interest payment date following the end of the amendment period. Additionally, during the amendment period, the borrower is restricted from taking certain actions and the lenders are not obligated to make any loans to the borrower. Following the amendment period, the applicable advance rate will be reduced to 72% . An additional amendment was subsequently entered into for this debt facility, refer to Note 13 for additional information. On May 14, 2020, Receivable Assets of OnDeck, LLC, our wholly owned subsidiary, entered into an amendment to further modify its revolving debt facility. The amendment included that during the period from March 11, 2020 to August 31, 2020, receivables granted temporary relief in response to the COVID-19 pandemic will generally not be considered delinquent so long as such receivable is paying in accordance with its modified terms and made various technical, definitional, conforming and other changes. Also, for a specified period, the borrower is restricted from taking certain actions and the lenders are not obligated to make any loans to the borrower. After such period, the applicable advance rate will be reduced to 66% . On May 19, 2020, OnDeck Asset Funding II, LLC, our wholly owned subsidiary, entered into an amendment to further modify its revolving debt facility. The amendment included that during the period from March 11, 2020 to July 22, 2020, receivables granted temporary relief in response to the COVID-19 pandemic will generally not be considered delinquent so long as such receivable is paying in accordance with its modified terms and made various technical, definitional, conforming and other changes. Also, for a specified period, the borrower is restricted from taking certain actions and the lenders are not obligated to make any loans to the borrower. Additionally, the advance rate is subject to reduction on each payment date with a final reduction to 70% to occur no later than July 23, 2020. An additional amendment was entered into on June 10, 2020, which made certain definitional and conforming changes. On May 20, 2020, OnDeck Account Receivables Trust 2013-1 LLC, our wholly owned subsidiary, entered into an amendment to further modify its revolving debt facility. The amendment included that during the period from March 11, 2020 to July 23, 2020, receivables granted temporary relief in response to the COVID-19 pandemic will generally not be considered delinquent so long as such receivable is paying in accordance with its modified terms and made various technical, definitional, conforming and other changes. Also, for a specified period, the borrower is restricted from taking certain actions and the lenders are not obligated to make any loans to the borrower. As of the effective date of the amendment, the advance rate was reduced from 80% to 75% and following the amendment period, the applicable advance rate will be further reduced to 70% . The amendment also reduces the commitment amount from $180 million to $125 million. An additional amendment was subsequently entered into for this debt facility, refer to Note 13 for additional information. On June 23, 2020, the lenders under our corporate debt facility consented to delay the effectiveness of the increased monthly principal repayments until July 14, 2020, which were triggered by the occurrence of an asset performance event on June 17, 2020. In consideration for the consent, the Company agreed to make a $5 million principal repayment substantially concurrent with the execution of the consent. Under the consent, the lenders also agreed that, at the Company’s option, the aforementioned repayment will either reduce the amount of the monthly principal repayment due on July 17, 2020 or if the parties enter into an amendment on or prior to July 17, 2020, be credited towards any principal repayment required under that amendment. The Company entered into the Consent in contemplation of entering into a broader amendment to the Corporate Facility to address impacts stemming from the COVID-19 pandemic. The effectiveness of the increased monthly principal repayments was subsequently extended, refer to Note 13 for additional information. On June 29, 2020, our Canadian entities entered into a first amendment to the CAD 40 million

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2020
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 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. Our interest rate cap is reported at fair value utilizing Level 2 inputs. The fair value is determined using third party valuations that are based on discounted cash flow analysis using observed market inputs. The following tables present information about our assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2020 and December 31, 2019 (in thousands): June 30, 2020 Level 1 Level 2 Level 3 Total Assets : Interest rate cap $ — $ 1 $ — $ 1 Total assets $ — $ 1 $ — $ 1 December 31, 2019 Level 1 Level 2 Level 3 Total Assets : Interest rate cap $ — $ — $ — $ — Total assets $ — $ — $ — $ — There were no transfers between levels for the three months ended June 30, 2020 and December 31, 2019 . Assets and Liabilities Disclosed at Fair Value Because our loans and finance receivables 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 and finance receivables, 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 summarize the carrying value and fair value of our loans held for investment and fixed-rate debt (in thousands): June 30, 2020 Carrying Value Fair Value Level 1 Level 2 Level 3 Assets : Loans and finance receivables, net $ 727,519 $ 762,322 $ — $ — $ 762,322 Total assets $ 727,519 $ 762,322 $ — $ — $ 762,322 Liabilities: Fixed-rate debt $ 260,935 $ 246,126 $ — $ — $ 246,126 Total fixed-rate debt $ 260,935 $ 246,126 $ — $ — $ 246,126 December 31, 2019 Carrying Value Fair Value Level 1 Level 2 Level 3 Assets : Loans and finance receivables, net $ 1,114,179 $ 1,241,893 $ — $ — $ 1,241,893 Total assets $ 1,114,179 $ 1,241,893 $ — $ — $ 1,241,893 Liabilities: Fixed-rate debt $ 350,000 $ 337,510 $ — $ — $ 337,510 Total fixed-rate debt $ 350,000 $ 337,510 $ — $ — $ 337,510

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For interim periods, the income tax provision is comprised of tax on ordinary income provided at the most recent estimated annual effective tax rate, adjusted for the tax effect of discrete items. We use an estimated annual effective tax rate which is based on expected annual income and statutory tax rates to determine our quarterly provision for income taxes. Certain significant or unusual items are separately recognized in the quarter in which they occur and can be a source of variability in the effective tax rates from quarter to quarter. We did no t book a provision for income taxes for the three and six months ended June 30, 2020 and our provision for income taxes for the three and six months ended June 30, 2019 was $1.8 million and $3.5 million representing a quarterly effective income tax rate of 45% for the three months ended June 30, 2019 and a year to date effective income tax rate of 32% .

Stock-Based Compensation and Em

Stock-Based Compensation and Employee Benefit Plans	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation and Employee Benefit Plans	Stock-Based Compensation and Employee Benefit Plans Equity incentives are currently issued to employees and directors in the form of stock options and RSUs under our 2014 Equity Incentive Plan. Our 2007 Stock Option Plan was terminated in connection with our Initial Public Offering (IPO). Accordingly, no additional equity incentives are issuable under this plan although it continues to govern outstanding awards granted thereunder. Additionally, we offer an Employee Stock Purchase Plan through the 2014 Employee Stock Purchase Plan and a 401(k) plan to employees. Options The following is a summary of option activity for the six months ended June 30, 2020 : Number of Weighted- Weighted- Aggregate Outstanding at January 1, 2020 6,822,219 $ 5.68 — — Exercised (43,771 ) $ 0.40 — — Forfeited (84,876 ) $ 6.39 — — Expired (530,718 ) $ 6.26 — — Outstanding at June 30, 2020 6,162,854 $ 5.66 4.5 $ 357 Exercisable at June 30, 2020 5,758,457 $ 5.66 4.3 $ 357 Vested or expected to vest as of June 30, 2020 6,143,505 $ 5.66 4.5 $ 357 Total compensation cost related to nonvested option awards not yet recognized as of June 30, 2020 was $0.7 million and will be recognized over a weighted-average period of 1.6 years . The aggregate intrinsic value of employee options exercised during the periods ended June 30, 2020 , and 2019 was $0.2 million , and $1.4 million , respectively. Restricted Stock Units The following table is a summary of activity in RSUs and PRSUs for the six months ended June 30, 2020 : Number of RSUs and PRSUs Weighted-Average Grant Date Fair Value Per Share Unvested at January 1, 2020 4,185,560 $ 5.32 RSUs and PRSUs Granted 3,548,066 $ 2.49 RSUs and PRSUs Vested (832,425 ) $ 5.68 RSUs and PRSUs Forfeited/Expired (450,837 ) $ 5.46 Unvested at June 30, 2020 6,450,364 $ 3.71 Expected to vest after June 30, 2020 5,193,087 $ 3.69 As of June 30, 2020 , there was $19.3 million of unrecognized compensation cost related to unvested RSUs and PRSUs, which is expected to be recognized over a weighted-average period of 2.6 years . Stock-based compensation expense related to stock options, RSUs, PRSUs and the employee stock purchase plan are included in the following line items in our accompanying consolidated statements of operations for the three and six months ended June 30, 2020 and 2019 (in thousands). For the three months ending June 30, Six Months Ended, June 30, 2020 2019 2020 2019 Sales and marketing $ 165 $ 474 $ 142 $ 1,033 Technology and analytics 744 889 1,204 1,717 Processing and servicing 47 49 146 139 General and administrative 1,291 1,836 2,171 3,442 Total $ 2,247 $ 3,248 $ 3,663 $ 6,331 We have suspended the employee stock purchase plan in 2020, and all current-round expenses were reversed in the three months ended March 31, 2020. Further, we had a number of forfeitures in our Sales and Marketing personnel which resulted in a reversal of expenses for the three months ending March 31, 2020. As a result, stock-based compensation expense decreased for the six months ended June 30, 2020 when compared to the six months ended June 30, 2019.

Business Combination

Business Combination	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Business Combination	Business Combination On April 1, 2019, we combined our Canadian operations with Evolocity Financial Group, or Evolocity, a Montreal-based online small business lender. The purpose of the transaction was to accelerate the growth of our Canadian operations and to enable us to provide a broader range of financing options to Canadian small businesses nationwide. In the transaction, Evolocity contributed its business to a holding company, and we contributed our Canadian business plus cash to that holding company such that we own a 58.5% majority interest in the holding company. The remainder is owned by former Evolocity stockholders. We have accounted for this transaction as a business combination. The transaction had a purchase price for accounting purposes of approximately $16.7 million . The following table summarizes the preliminary fair value of the assets acquired and liabilities assumed in connection with the business combination (in thousands): Fair Value at Combination Loans and finance receivables $ 36,763 Intangibles and other assets (1) 2,810 Debt and other liabilities (34,437 ) Goodwill (1) 11,585 Net assets acquired $ 16,721 (1) Goodwill, and Intangibles and other assets were included in Other Assets on the Consolidated Balance Sheet as of June 30, 2020 and December 31, 2019. Goodwill arising from the business combination is not amortized but is subject to impairment testing at least annually or more frequently if there is an indicator of impairment. During the second quarter of 2020 we identified events and circumstances from the continued impact of the COVID-19 pandemic that indicated that it was more likely than not that the fair value was less than the carrying value of the reporting unit and performed an interim impairment testing on our goodwill. These events and circumstances included the continued deterioration in the economy and slower than expected economic recovery. Goodwill is tested at our single reporting segment level. We based our fair value for June 30, 2020 on the implied transaction value contained within the recently announced definitive agreement entered with Enova to acquire our business. We compared the fair value to our book value, which resulted in a full goodwill impairment of $11.0 million during the three months ended June 30, 2020. The following table presents the changes in goodwill for the six months ended June 30, 2020 (in thousands): Balance at December 31, 2019 $ 11,532 Foreign currency translation adjustment (572 ) Impairment charge (10,960 ) Balance at June 30, 2020 $ — Our business combination with Evolocity resulted in a redeemable noncontrolling interest, which has been classified as mezzanine equity due to the option of the noncontrolling shareholders to require us to purchase their interest. The redeemable noncontrolling interest was recorded at fair value of $16.1 million as a result of the business combination. The fair value was measured using a mix of a discounted cash flow and cost approach. These interests are classified as mezzanine equity and measured at the greater of fair value at the end of each reporting period or the historical cost basis of the noncontrolling interest adjusted for cumulative earnings allocations. The mezzanine equity balance at June 30, 2020 was $6.9 million and at December 31, 2019 was $14.4 million .

Derivatives and Hedging

Derivatives and Hedging	6 Months Ended
	Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging	Derivatives and Hedging We are subject to interest rate risk in connection with borrowings under our debt agreements that are subject to variable interest rates. In December 2018 we entered into an interest rate cap, which is a derivative instrument, to manage our interest rate risk on a portion of our variable-rate debt. We do not use derivatives for speculative purposes. The interest rate cap is designated as a cash flow hedge. In exchange for our up-front premium, we would receive variable amounts from a counterparty if interest rates rise above the strike rate on the contract. The interest rate cap agreement is for a notional amount of $300 million and has a maturity date of January 2021. For derivatives designated and that qualify as cash flow hedges of interest rate risk, the changes in the fair value of the derivative are recorded in Accumulated Other Comprehensive Income, or AOCI, and subsequently reclassified into interest expense in the same period(s) during which the hedged transaction affects earnings. Gains and losses on the derivative representing hedge components excluded from the assessment of effectiveness are recognized over the life of the hedge on a systematic and rational basis, as documented at hedge inception in accordance with our accounting policy election. The earnings recognition of excluded components is presented in interest expense. Amounts reported in AOCI related to derivatives will be reclassified to interest expense as interest payments are made on our variable-rate debt. We estimate that $0.3 million will be reclassified as an increase to interest expense over the next 12 months. The table below presents the fair value of our derivative financial instruments as well as their classification on the Balance Sheet as of June 30, 2020 and December 31, 2019 (in thousands): Derivative Type Classification June 30, 2020 December 31, 2019 Assets: Interest rate cap agreement Other Assets $ 1 $ — The table below presents the effect of cash flow hedge accounting on Accumulated Other Comprehensive Income as of June 30, 2020 and June 30, 2019 (in thousands): June 30, 2020 June 30, 2019 Amount Recognized in OCI on Derivative: Interest rate cap agreement $ 504 $ 866 The table below presents the effect of our derivative financial instruments on the Consolidated Statements of Operations and Comprehensive Income for the three and six months ended June 30, 2020 and 2019 (in thousands): Location and Amount of Gain or (Loss) Recognized in Income on Cash Flow Hedging Relationships Three Months Ended June 30, Six Months Ended, June 30, 2020 2019 2020 2019 Interest expense $ (236 ) $ (204 ) $ (503 ) $ (338 )

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
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. We are exposed to default risk on loans we originate and hold and that we purchase from our issuing bank partner. We perform an evaluation of each customer's financial condition and during the term of the customer's loan(s), we have the contractual right to limit a customer's ability to take working capital loans or other financing from other lenders that may cause a material adverse change in the financial condition of the customer. Contingencies We are involved in lawsuits, claims and proceedings incidental to the ordinary course of our business. We review the need for any loss contingency accruals and establishes an accrual when, in the opinion of management, it is probable that a matter would result in liability, and the amount of loss, if any, can be reasonably estimated. When and to the extent that we do establish a reserve, there can be no assurance that any such recorded liability for estimated losses will be for the appropriate amount, and actual losses could be higher or lower than what we accrue from time to time. We believe that the ultimate resolution of its current matters will not have a material adverse effect on our condensed consolidated financial statements.

Going Concern

Going Concern	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern	Going Concern At each reporting period, we assess our ability to continue as a going concern for one year after the date the financial statements are issued. We evaluate whether relevant conditions and events, considered in the aggregate, raise substantial doubt about our ability to meet future financial obligations as they become due within one year after the date that the financial statements are issued. As required under ASC Topic 205-40, Presentation of Financial Statements - Going Concern , our initial evaluation does not initially take into consideration the potential mitigating effects of management’s plans if they have not been fully implemented as of the date the financial statements are issued. As a result of the COVID-19 pandemic and its economic impacts, we are experiencing higher delinquencies in our portfolio and, in turn, lower cash collections. While we have obtained certain consents and waivers, and amended the terms of certain of our debt agreements as of June 30, 2020, the reduced collections and higher COVID-19 related delinquencies have resulted in non-compliance with certain debt agreements and are expected to result in, additional non-compliance with debt agreements in future periods. If such non-compliance is not waived by our lenders, we are not able to obtain amendments or other relief, or are otherwise unable to obtain new or alternate methods of financing on acceptable terms, such non-compliance can result in loss of ability to borrow under the facilities, early amortization events and/or events of default. Absent the mitigating actions below that management is in the midst of executing, or has already executed, management concluded that the uncertainty surrounding our future non-compliance in our debt facilities, ability to negotiate some of our existing facilities or repay outstanding indebtedness, and maintain sufficient liquidity raises substantial doubt about our ability to continue as a going concern within one year of issuance date. We have implemented the following plans to mitigate those doubts. In the second quarter of 2020, we amended six of our debt facilities to obtain temporary relief from, among other things, borrowing base requirements and portfolio performance tests. Please see Note 5 for details. We continue to actively engage with all of our lenders, as or if needed, to amend our debt agreements or otherwise obtain relief. We also took measures to reduce costs, including reducing the U.S. staff by approximately 20% . These steps have been taken, and others are under consideration, to help manage our liquidity and preserve capital for at least the next 12 months, and we believe that such actions will alleviate the substantial doubt on our ability to continue as a going concern.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In July 2020, we conducted a workforce reduction as a part of a cost rationalization program resulting from COVID-19. The reduction is expected to be approximately 20% of our US based headcount and resulted in a $2.8 million restructuring charge that was recorded in the three months ended June 30, 2020. On July 15, 2020, Loan Assets of OnDeck, LLC, our wholly owned subsidiary, entered into an amendment to further modify its revolving debt facility. The amendment extended the amendment period (described in more detail in Note 5) to August 18, 2020 and made various technical, definitional, conforming and other changes. On July 28, 2020, we entered into a definitive agreement with Enova, under which Enova will acquire all of our outstanding shares in a cash and stock transaction. Under the terms of the agreement, our shareholders will receive $ 0.12 cents per share in cash and 0.092 shares of Enova common stock for each share of OnDeck common stock held. The transaction has been unanimously approved by the boards of directors of both companies and is subject to our shareholder approval and Hart-Scott-Rodino Act approval, along with customary closing conditions. The transaction is expected to close this year. Enova is a leading provider of online financial services to non-prime consumers and small businesses, providing access to credit powered by its advanced analytics, innovative technology, and world-class online platform and services. The lenders under our corporate debt facility consented to further delay the effectiveness of the increased monthly principal repayments as we continue to work towards entering into a broader amendment to the corporate debt facility to address impacts stemming from the COVID-19 pandemic. The first limited consent extension, which was effective as of July 14, 2020, extended the consent period to July 31, 2020. In consideration for this first consent extension, OnDeck agreed to make a principal repayment of $8.1 million (which is the incremental amount that would be payable on July 17, 2020 as a result of the Asset Performance Payout Event or APPE (Level 1) after the $5 million principal repayment made in connection with the limited consent described in more detail under Note 5). We obtained a second limited consent, which was effective as of July 31, 2020, and extended the consent period to August 7, 2020. Effective as of August 7, 2020, we obtained a third limited consent for our corporate debt facility. Under this third limited consent, the lenders consented to further extend the consent period to August 14, 2020 . If an amendment is not entered into or the consent is not otherwise extended, OnDeck will be required to make an additional $7.9 million principal repayment by August 14, 2020 and the monthly principal repayments of $21 million triggered by the APPE (Level 2) would commence on August 17, 2020 and continue until the corporate debt facility is repaid in full. The foregoing description of the third limited consent does not purport to be complete and is qualified in its entirety by reference to the third limited consent, filed as exhibit 10.7 to this report. On July 31, 2020, our Canadian entities entered into a second amendment to the credit agreement entered into with the Bank of Montreal, as agent, lead arranger and sole bookrunner and the financial institutions party thereto from time to time, as lenders. The amendment extends the relief period (described in more detail in Note 5) to August 31, 2020 unless certain other financing is obtained prior to such time, and made various other technical, definitional and conforming changes. On August 3, 2020, OnDeck Account Receivables Trust 2013-1 LLC or ODART, our wholly owned subsidiary, entered into an amendment to further modify its revolving debt facility. The amendment extended the period of temporary relief in response to the COVID-19 pandemic (described in more detail in Note 5) from July 23, 2020 to October 23, 2020. The amendment also modifies the concentration limitations to, among other things, continue providing flexibility for certain loans impacted by COVID-19. In addition, the amendment reduced the advance rate from 70% to 66% and the commitment amount was reduced from $125 million to $100 million . There was no change to the interest rate of the ODART debt facility. The foregoing description of the amendment of the ODART debt facility does not purport to be complete and is qualified in its entirety by reference to the amendment of the ODART debt facility, filed as exhibit 10.6 to this report.

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation
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 consolidated financial statements and accompanying notes. Significant estimates include allowance for credit losses, stock-based compensation expense, capitalized software development costs, the useful lives of long-lived assets, goodwill, our effective income tax rate and valuation allowance for deferred tax assets. We base our estimates on historical experience, current events and other factors we believe to be reasonable under the circumstances. These estimates and assumptions are inherently subjective in nature; actual results may differ from these estimates and assumptions.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments . ASU 2016-13 which changed 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 replaced the incurred loss model used previously. We adopted the new standard effective January 1, 2020. Upon adoption, the $7 million liability for unfunded line of credit commitments previously included in Other liabilities was released and other transition related adjustments to the allowance for credit losses were $3 million . On January 1, 2020, the transition adjustments of a total of $10 million were recorded against retained earnings. In January 2017, the FASB issued ASU 2017-04, Intangibles-Goodwill and Other: Simplifying the Test for Goodwill Impairment , which eliminated the requirement to determine the fair value of individual assets and liabilities of a reporting unit to measure goodwill impairment. Under the amendments in the new ASU, goodwill impairment testing will be performed by comparing the fair value of the reporting unit with its carrying amount and recognizing an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. We adopted the new standard prospectively on January 1, 2020 and it did not have a material impact on our unaudited consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement, which modifies disclosure requirements for fair value measurements under ASC 820, Fair Value Measurement. We adopted the new standard effective January 1, 2020 and the adoption did not have a material impact on our unaudited consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract, which requires implementation costs incurred by customers in cloud computing arrangements to be deferred over the noncancellable term of the cloud computing arrangements plus any optional renewal periods (1) that are reasonably certain to be exercised by the customer or (2) for which exercise of the renewal option is controlled by the cloud service provider. We adopted the new standard effective January 1, 2020 utilizing the prospective transition approach and the adoption did not have a material impact on our unaudited consolidated financial statements.
Fair Value of Financial Instruments	Because our loans and finance receivables 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 and finance receivables, 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. 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.

Net Income (Loss) Per Common _2

Net Income (Loss) Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Basic and diluted net income (loss) per common share is calculated as follows (in thousands, except share and per share data): Three Months Ended June 30, Six Months Ended, June 30, 2020 2019 2020 2019 Numerator: Net Income (loss) $ (4,123 ) $ 2,168 $ (64,161 ) $ 7,496 Less: Net income (loss) attributable to noncontrolling interest (6,293 ) (2,127 ) (7,356 ) (2,465 ) Net income (loss) attributable to On Deck Capital, Inc. common stockholders $ 2,170 $ 4,295 $ (56,805 ) $ 9,961 Denominator: Weighted-average common shares outstanding, basic 58,741,590 76,137,751 60,625,795 75,840,604 Net income (loss) per common share, basic $ 0.04 $ 0.06 $ (0.94 ) $ 0.13 Effect of dilutive securities 1,205,001 2,763,850 — 3,173,153 Weighted-average common shares outstanding, diluted 59,946,591 78,901,601 60,625,795 79,013,757 Net income (loss) per common share, diluted $ 0.04 $ 0.05 $ (0.94 ) $ 0.13 Anti-dilutive securities excluded 8,806,925 6,747,782 8,428,661 5,591,794
Schedule of Earnings Per Share, Diluted, by Common Class, Including Two Class Method	The following common share equivalent securities have been included in the calculation of dilutive weighted-average common shares outstanding: Three Months Ended June 30, Six Months Ended, June 30, Dilutive Common Share Equivalents 2020 2019 2020 2019 Weighted-average common shares outstanding 58,741,590 76,137,751 60,625,795 75,840,604 RSUs and PRSUs 239,187 489,080 — 755,731 Stock options 965,814 2,274,770 — 2,413,951 Employee stock purchase plan — — — 3,471 Total dilutive common share equivalents 59,946,591 78,901,601 60,625,795 79,013,757
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following common share equivalent securities were excluded from the calculation of diluted net income per share attributable to common stockholders. Their effect would have been antidilutive for the three and six months ended June 30, 2020 and 2019 . Three Months Ended June 30, Six Months Ended, June 30, 2020 2019 2020 2019 Anti-Dilutive Common Share Equivalents RSUs and PRSUs 4,806,354 2,361,583 4,428,090 1,633,192 Stock options 4,000,571 4,176,551 4,000,571 3,958,602 Employee stock purchase plan — 209,648 — — Total anti-dilutive common share equivalents 8,806,925 6,747,782 8,428,661 5,591,794

Interest Income (Tables)

Interest Income (Tables)	6 Months Ended
	Jun. 30, 2020
Banking and Thrift, Interest [Abstract]
Summary of Interest Income	Interest income was comprised of the following components for the three and six months ended June 30, 2020 and 2019 (in thousands): Three Months Ended June 30, Six Months Ended, June 30, 2020 2019 2020 2019 Interest and finance income $ 90,167 $ 122,799 $ 212,449 $ 246,234 Amortization of net deferred origination costs (12,035 ) (17,451 ) (27,618 ) (35,344 ) Interest and finance income, net 78,132 105,348 184,831 210,890 Interest on deposits and investments 176 293 412 550 Total interest and finance income $ 78,308 $ 105,641 $ 185,243 $ 211,440

Loans and Finance Receivables_2

Loans and Finance Receivables Held for Investment and Allowance for Credit Losses (Tables)	6 Months Ended
	Jun. 30, 2020
Receivables [Abstract]
Schedule of Loans	Loans and finance receivables consisted of the following as of June 30, 2020 and December 31, 2019 (in thousands): June 30, 2020 December 31, 2019 Term loans $ 663,600 $ 946,322 Lines of credit 204,487 277,843 Other loans and finance receivables (1) 15,912 14,244 Total Unpaid Principal Balance 883,999 1,238,409 Net deferred origination costs 17,127 26,903 Total loans and finance receivables $ 901,126 $ 1,265,312 (1) Includes loans secured by equipment and our variable pay product in Canada.
Schedule of Allowance for Loan Losses	The change in the allowance for credit losses for the three months ended June 30, 2020 and 2019 consisted of the following (in thousands): Three Months Ended June 30, 2020 2019 Term Loans and Finance Receivables Lines of Credit Total Total Balance at beginning of period $ 156,803 $ 48,900 $ 205,703 $ 147,406 Recoveries of previously charged off amounts 5,142 741 5,883 4,523 Loans and finance receivables charged off (52,667 ) (9,735 ) (62,402 ) (49,141 ) Provision for credit losses 30,826 (7,106 ) 23,720 42,951 Foreign Currency Translation Adjustment 703 — 703 — Allowance for credit losses at end of period $ 140,807 $ 32,800 $ 173,607 $ 145,739 The change in the allowance for credit losses for the six months ended June 30, 2020 and 2019 consisted of the following (in thousands): Six Months Ended June 30, 2020 2019 Term Loans and Finance Receivables Lines of Credit Total Total Balance at beginning of period 116,752 34,381 151,133 $ 140,040 Recoveries of previously charged off amounts 10,184 1,296 11,480 $ 8,437 Loans and finance receivables charged off (98,334 ) (19,296 ) (117,630 ) $ (88,980 ) Provision for credit losses 109,104 22,523 131,627 86,242 Transition to ASU 2016-13 Adjustment 2,800 (6,104 ) (3,304 ) — Foreign Currency Translation Adjustment 301 — 301 — Allowance for credit losses at end of period $ 140,807 $ 32,800 $ 173,607 $ 145,739
Schedule of Non-delinquent and Delinquent Loans	The following tables show an aging analysis of the unpaid principal balance related to loans and finance receivables and lines of credit, by delinquency statu s and origination year as of June 30, 2020 (in thousands): June 30, 2020 Term Loans and Finance Receivables Lines of Credit Total Origination Year By delinquency status: 2017 and prior 2018 2019 2020 Current loans and finance receivables $ — $ 717 $ 151,093 $ 208,777 $ 141,429 $ 502,016 1-14 calendar days past due — 26 14,523 14,772 3,258 32,579 15-29 calendar days past due — 118 22,607 18,010 5,309 46,044 30-59 calendar days past due — 186 42,124 35,185 10,787 88,282 60-89 calendar days past due — 168 46,597 32,836 13,933 93,534 90 + calendar days past due 424 3,543 69,346 18,460 29,771 121,544 Total unpaid principal balance $ 424 $ 4,758 $ 346,290 $ 328,040 $ 204,487 $ 883,999 At June 30, 2020 the amount of loans that were classified as delinquent, and specifically loans that were classified as 90 plus days past due were at a historical highs, due to the broad-based pressures from COVID-19 that our customers experienced late in the first quarter of 2020 and throughout the second quarter of 2020. The following tables show an aging analysis of the unpaid principal balance related to loans and finance receivables and lines of credit, by delinquency statu s as of December 31, 2019 (in thousands): December 31, 2019 By delinquency status: Term Loans and Finance Receivables Lines of Credit Total Current loans and finance receivables $ 842,083 $ 255,981 $ 1,098,064 1-14 calendar days past due $ 23,426 $ 4,949 28,375 15-29 calendar days past due $ 15,153 $ 2,230 17,383 30-59 calendar days past due $ 20,647 $ 4,419 25,067 60-89 calendar days past due $ 18,527 $ 3,477 22,004 90 + calendar days past due $ 40,730 $ 6,787 47,516 Total unpaid principal balance $ 960,566 $ 277,843 $ 1,238,409 Th e following table contains information regarding the unpaid principal balance we originated related to non-delinquent, paying and non-paying delinquent loans and finance receivables as of June 30, 2020 and December 31, 2019 (in thousands). At June 30, 2020, approximately 60% of the unpaid principal balance of our delinquent loans and finance receivables were making payments. June 30, 2020 Term Loans and Finance Receivables Lines of Credit Total Current loans and finance receivables $ 360,587 $ 141,429 $ 502,016 Delinquent: paying (accrual status) 203,772 37,745 241,517 Delinquent: non-paying (non-accrual status) 115,153 25,313 140,466 Total 679,512 204,487 883,999 December 31, 2019 Term Loans and Finance Receivables Lines of Credit Total Current loans and finance receivables $ 842,083 $ 255,981 $ 1,098,064 Delinquent: paying (accrual status) 33,512 5,002 38,514 Delinquent: non-paying (non-accrual status) 84,971 16,860 101,831 Total $ 960,566 $ 277,843 $ 1,238,409
Financing Receivable Credit Quality Indicators	The following table contains the breakdown of our US Term Loans by the year of origination and our risk grades, at June 30, 2020 (in thousands): June 30, 2020 Origination Year Risk Grade 2020 2019 2018 2017 and prior Total W $ 115,034 $ 116,965 $ 1,284 $ 118 $ 233,401 X 65,508 70,178 1,198 7 136,891 Y 47,918 60,585 1,094 20 109,617 Z 62,230 62,731 641 265 124,867 $ 290,690 $ 310,459 $ 4,217 $ 410 $ 604,776

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Summary of Outstanding Debt	The following table summarizes our outstanding debt as of June 30, 2020 and December 31, 2019 (in thousands): Outstanding Type Maturity Date Weighted Average Interest June 30, 2020 December 31, 2019 Debt: OnDeck Asset Securitization Trust II - Series 2018-1 Securitization April 2022 (1) 3.9% $ 159,195 $ 225,000 OnDeck Asset Securitization Trust II - Series 2019-1 Securitization November 2024 (2) 3.1% 101,740 125,000 OnDeck Account Receivables Trust 2013-1 Revolving March 2022 (3) 1.9% 80,295 129,512 Receivable Assets of OnDeck, LLC Revolving September 2021 (4) 1.8% 61,838 94,099 OnDeck Asset Funding II LLC Revolving August 2022 (5) 3.2% 89,798 123,840 Prime OnDeck Receivable Trust II Revolving March 2022 (6) 1.8% — — Loan Assets of OnDeck, LLC Revolving October 2022 (7) 1.9% 65,159 120,665 Corporate line of credit Revolving January 2021 (8) 3.2% 86,875 40,000 International and other agreements Various Various (9) 3.6% 41,216 64,585 3.0% 686,116 922,701 Deferred debt issuance cost (5,745 ) (7,706 ) Total Debt $ 680,371 $ 914,995 (1) The period during which new loans may be purchased under this securitization transaction expired in March 2020 . (2) The period during which new loans may be purchased under this securitization transaction expired in May 2020 . (3) The period during which new borrowings may be made under this facility expires in March 2021 . Amendments were made to this facility on May 20, 2020 and August 3, 2020, which are described below and in Note 13 in further detail. (4) The period during which new borrowings of Class A revolving loans may be made under this debt facility expires in December 2020 . An amendment was made to this facility on May 14, 2020, which is described below in further detail. (5) The period during which new borrowings may be made under this facility expires in August 2021 . An amendment was made to this facility on May 19, 2020, which is described below in further detail. (6) The period during which new borrowings may be made under this facility expires in March 2021 . (7) The period during which new borrowings may be made under this debt facility expires in April 2022 . Amendments were made to the facility on April 27, 2020 and July 15, 2020, which are described below and in Note 13 in further detail. (8) The period during which new borrowings may be made under this facility expired May 2020 . (9) Other Agreements include, among others, our local currency debt facilities in Australia and Canada. The periods during which new borrowings may be made under the various agreements expire between June 2021 and March 2023 . Maturity dates range from December 2021 through March 2023

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following tables present information about our assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2020 and December 31, 2019 (in thousands): June 30, 2020 Level 1 Level 2 Level 3 Total Assets : Interest rate cap $ — $ 1 $ — $ 1 Total assets $ — $ 1 $ — $ 1 December 31, 2019 Level 1 Level 2 Level 3 Total Assets : Interest rate cap $ — $ — $ — $ — Total assets $ — $ — $ — $ —
Schedule of Assets and Liabilities Disclosed at Fair Value	The following tables summarize the carrying value and fair value of our loans held for investment and fixed-rate debt (in thousands): June 30, 2020 Carrying Value Fair Value Level 1 Level 2 Level 3 Assets : Loans and finance receivables, net $ 727,519 $ 762,322 $ — $ — $ 762,322 Total assets $ 727,519 $ 762,322 $ — $ — $ 762,322 Liabilities: Fixed-rate debt $ 260,935 $ 246,126 $ — $ — $ 246,126 Total fixed-rate debt $ 260,935 $ 246,126 $ — $ — $ 246,126 December 31, 2019 Carrying Value Fair Value Level 1 Level 2 Level 3 Assets : Loans and finance receivables, net $ 1,114,179 $ 1,241,893 $ — $ — $ 1,241,893 Total assets $ 1,114,179 $ 1,241,893 $ — $ — $ 1,241,893 Liabilities: Fixed-rate debt $ 350,000 $ 337,510 $ — $ — $ 337,510 Total fixed-rate debt $ 350,000 $ 337,510 $ — $ — $ 337,510

Stock-Based Compensation and _2

Stock-Based Compensation and Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Summary of Option Activity	The following is a summary of option activity for the six months ended June 30, 2020 : Number of Weighted- Weighted- Aggregate Outstanding at January 1, 2020 6,822,219 $ 5.68 — — Exercised (43,771 ) $ 0.40 — — Forfeited (84,876 ) $ 6.39 — — Expired (530,718 ) $ 6.26 — — Outstanding at June 30, 2020 6,162,854 $ 5.66 4.5 $ 357 Exercisable at June 30, 2020 5,758,457 $ 5.66 4.3 $ 357 Vested or expected to vest as of June 30, 2020 6,143,505 $ 5.66 4.5 $ 357
Schedule of Activities of RSUs	The following table is a summary of activity in RSUs and PRSUs for the six months ended June 30, 2020 : Number of RSUs and PRSUs Weighted-Average Grant Date Fair Value Per Share Unvested at January 1, 2020 4,185,560 $ 5.32 RSUs and PRSUs Granted 3,548,066 $ 2.49 RSUs and PRSUs Vested (832,425 ) $ 5.68 RSUs and PRSUs Forfeited/Expired (450,837 ) $ 5.46 Unvested at June 30, 2020 6,450,364 $ 3.71 Expected to vest after June 30, 2020 5,193,087 $ 3.69
Schedule of Stock-based Compensation Expense	Stock-based compensation expense related to stock options, RSUs, PRSUs and the employee stock purchase plan are included in the following line items in our accompanying consolidated statements of operations for the three and six months ended June 30, 2020 and 2019 (in thousands). For the three months ending June 30, Six Months Ended, June 30, 2020 2019 2020 2019 Sales and marketing $ 165 $ 474 $ 142 $ 1,033 Technology and analytics 744 889 1,204 1,717 Processing and servicing 47 49 146 139 General and administrative 1,291 1,836 2,171 3,442 Total $ 2,247 $ 3,248 $ 3,663 $ 6,331

Business Combination (Tables)

Business Combination (Tables)	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Schedule of Business Acquisition, Fair Value of Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary fair value of the assets acquired and liabilities assumed in connection with the business combination (in thousands): Fair Value at Combination Loans and finance receivables $ 36,763 Intangibles and other assets (1) 2,810 Debt and other liabilities (34,437 ) Goodwill (1) 11,585 Net assets acquired $ 16,721 (1) Goodwill, and Intangibles and other assets were included in Other Assets on the Consolidated Balance Sheet as of June 30, 2020 and December 31, 2019.
Schedule of Goodwill	The following table presents the changes in goodwill for the six months ended June 30, 2020 (in thousands): Balance at December 31, 2019 $ 11,532 Foreign currency translation adjustment (572 ) Impairment charge (10,960 ) Balance at June 30, 2020 $ —

Derivatives and Hedging (Tables

Derivatives and Hedging (Tables)	6 Months Ended
	Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The table below presents the fair value of our derivative financial instruments as well as their classification on the Balance Sheet as of June 30, 2020 and December 31, 2019 (in thousands): Derivative Type Classification June 30, 2020 December 31, 2019 Assets: Interest rate cap agreement Other Assets $ 1 $ —
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)	The table below presents the effect of cash flow hedge accounting on Accumulated Other Comprehensive Income as of June 30, 2020 and June 30, 2019 (in thousands): June 30, 2020 June 30, 2019 Amount Recognized in OCI on Derivative: Interest rate cap agreement $ 504 $ 866
Derivative Instruments, Gain (Loss)	The table below presents the effect of our derivative financial instruments on the Consolidated Statements of Operations and Comprehensive Income for the three and six months ended June 30, 2020 and 2019 (in thousands): Location and Amount of Gain or (Loss) Recognized in Income on Cash Flow Hedging Relationships Three Months Ended June 30, Six Months Ended, June 30, 2020 2019 2020 2019 Interest expense $ (236 ) $ (204 ) $ (503 ) $ (338 )

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	Jul. 28, 2020	Jun. 30, 2020	Dec. 31, 2019	Mar. 31, 2020	Jan. 01, 2020	Jun. 30, 2019	Apr. 01, 2019	Mar. 31, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses on loans and leases		$ (173,607)	$ (151,133)	$ (205,703)		$ (145,739)		$ (147,406)	$ (140,040)
Increase in stockholders' equity		$ 219,068	$ 296,246	213,404		317,842		$ 311,596	302,485
Accounting Standards Update [Extensible List]		us-gaap:AccountingStandardsUpdate201613Member	us-gaap:AccountingStandardsUpdate201613Member
On Deck Capital Canada
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Ownership percentage							58.50%
Restatement Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Under accrual of commissions on renewal loans						$ 2,400
Under accrual of commissions on renewal loans, percent						90.00%
Under accrual of commissions on renewal loans, portion of Stockholders' Equity, percent						1.00%
Under accrual of commissions on renewal loans, portion of commissions paid, percent						1.00%
Cumulative Effect, Period Of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses on unfunded commitments					$ 7,000
Allowance for credit losses on loans and leases			$ 3,304						$ 0
Increase in stockholders' equity			10,468		10,000
Lines of credit
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses on loans and leases		$ (32,800)	(34,381)	$ (48,900)
Lines of credit | Cumulative Effect, Period Of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses on loans and leases			$ 6,104		$ 3,000
Subsequent Event | Enova
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash portion, cash per share for Enova common stock converted (in dollars per share)	$ 0.12
Stock portion, number of Enova common stock converted	0.092

Net Income (Loss) Per Common _3

Net Income (Loss) Per Common Share (Basic and Diluted Net Loss per Common Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Numerator:
Net Income (loss)	$ (4,123)	$ 2,168	$ (64,161)	$ 7,496
Net Income (loss)	(6,293)	(2,127)	(7,356)	(2,465)
Net income (loss) attributable to On Deck Capital, Inc. common stockholders	$ 2,170	$ 4,295	$ (56,805)	$ 9,961
Denominator:
Weighted-average common shares outstanding, basic (in shares)	58,741,590	76,137,751	60,625,795	75,840,604
Net income (loss) per common share, basic (in dollars per share)	$ 0.04	$ 0.06	$ (0.94)	$ 0.13
Effect of dilutive securities (in shares)	1,205,001	2,763,850	0	3,173,153
Weighted-average common shares outstanding, diluted (in shares)	59,946,591	78,901,601	60,625,795	79,013,757
Net income (loss) per common share, diluted (in dollars per share)	$ 0.04	$ 0.05	$ (0.94)	$ 0.13
Anti-dilutive securities excluded (in shares)	8,806,925	6,747,782	8,428,661	5,591,794

Net Income (Loss) Per Common _4

Net Income (Loss) Per Common Share (Dilutive Common Share Equivalents) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Weighted-average common shares outstanding, basic (in shares)	58,741,590	76,137,751	60,625,795	75,840,604
Effect of dilutive securities (in shares)	1,205,001	2,763,850	0	3,173,153
Weighted-average common shares outstanding, diluted (in shares)	59,946,591	78,901,601	60,625,795	79,013,757
RSUs and PRSUs
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Effect of dilutive securities (in shares)	239,187	489,080	0	755,731
Stock options
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Effect of dilutive securities (in shares)	965,814	2,274,770	0	2,413,951
Employee stock purchase plan
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Effect of dilutive securities (in shares)	0	0	0	3,471

Net Income (Loss) Per Common _5

Net Income (Loss) Per Common Share (Anti-Dilutive Common Share Equivalents) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded (in shares)	8,806,925	6,747,782	8,428,661	5,591,794
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded (in shares)	4,000,571	4,176,551	4,000,571	3,958,602
RSUs and PRSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded (in shares)	4,806,354	2,361,583	4,428,090	1,633,192
Employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded (in shares)	0	209,648	0	0

Net Income (Loss) Per Common _6

Net Income (Loss) Per Common Share (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2020	Feb. 11, 2020	Jul. 29, 2019
Earnings Per Share [Abstract]
Stock repurchase program, authorized amount				$ 50,000,000	$ 50,000,000
Repurchases of common stock (in shares)	0		8,096,613
Repurchases of common stock		$ 32,862,000	$ 32,900,000

Interest Income (Details)

Interest Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Banking and Thrift, Interest [Abstract]
Interest and finance income	$ 90,167	$ 122,799	$ 212,449	$ 246,234
Amortization of net deferred origination costs	(12,035)	(17,451)	(27,618)	(35,344)
Interest and finance income, net	78,132	105,348	184,831	210,890
Interest on deposits and investments	176	293	412	550
Total interest and finance income	$ 78,308	$ 105,641	$ 185,243	$ 211,440

Loans and Finance Receivables_3

Loans and Finance Receivables Held for Investment and Allowance for Credit Losses (Loans) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total unpaid principal balance	$ 883,999	$ 1,238,409
Net deferred origination costs	17,127	26,903
Total loans and finance receivables	901,126	1,265,312
Term loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total unpaid principal balance	663,600	946,322
Total loans and finance receivables	604,776
Lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total unpaid principal balance	204,487	277,843
Other loans and finance receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total unpaid principal balance	$ 15,912	$ 14,244

Loans and Finance Receivables_4

Loans and Finance Receivables Held for Investment and Allowance for Credit Losses (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020	Jan. 01, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originations of loans held for investment, modified			$ 567,238,000	$ 1,029,348,000
Allowance for credit losses on loans and leases	$ (173,607,000)	$ (145,739,000)	(173,607,000)	(145,739,000)	$ (205,703,000)		$ (151,133,000)	$ (147,406,000)	$ (140,040,000)
Increase in stockholders' equity	$ 219,068,000	317,842,000	219,068,000	317,842,000	213,404,000		296,246,000	$ 311,596,000	302,485,000
Proceeds from sale of previously charged-off loans			$ 200,000	0
Financing receivable, percent past due	60.00%		60.00%
Financial Institutions Borrower
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originations of loans held for investment, modified	$ 11,900,000	$ 95,500,000	$ 121,600,000	$ 207,100,000
Cumulative Effect, Period Of Adoption, Adjustment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses on loans and leases							3,304,000		$ 0
Allowance for credit losses on unfunded commitments						$ 7,000,000
Increase in stockholders' equity						10,000,000	10,468,000
Lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses on loans and leases	$ (32,800,000)		$ (32,800,000)		$ (48,900,000)		(34,381,000)
Lines of credit | Cumulative Effect, Period Of Adoption, Adjustment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses on loans and leases						3,000,000	$ 6,104,000
Accounting Standards Update 2016-13 | Cumulative Effect, Period Of Adoption, Adjustment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses on unfunded commitments						7,000,000
Increase in stockholders' equity						10,000,000
Accounting Standards Update 2016-13 | Lines of credit | Cumulative Effect, Period Of Adoption, Adjustment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses on loans and leases						$ 3,000,000

Loans and Finance Receivables_5

Loans and Finance Receivables Held for Investment and Allowance for Credit Losses (Allowance Roll Forward) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period	$ 205,703	$ 147,406	$ 151,133	$ 140,040	$ 140,040
Recoveries of previously charged off amounts	5,883	4,523	11,480	8,437
Loans and finance receivables charged off	(62,402)	(49,141)	(117,630)	(88,980)
Provision for credit losses	23,720	42,951	131,627	86,242
Foreign Currency Translation Adjustment	703	0	301	0
Allowance for credit losses at end of period	173,607	$ 145,739	$ 173,607	145,739	$ 151,133
Accounting Standards Update [Extensible List]			us-gaap:AccountingStandardsUpdate201613Member		us-gaap:AccountingStandardsUpdate201613Member
Term Loans and Finance Receivables
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period	156,803		$ 116,752
Recoveries of previously charged off amounts	5,142		10,184
Loans and finance receivables charged off	(52,667)		(98,334)
Provision for credit losses	30,826		109,104
Foreign Currency Translation Adjustment	703		301
Allowance for credit losses at end of period	140,807		140,807		$ 116,752
Lines of credit
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period	48,900		34,381
Recoveries of previously charged off amounts	741		1,296
Loans and finance receivables charged off	(9,735)		(19,296)
Provision for credit losses	(7,106)		22,523
Foreign Currency Translation Adjustment	0		0
Allowance for credit losses at end of period	$ 32,800		32,800		34,381
Transition to ASU 2016-13 Adjustment
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period			(3,304)	$ 0	0
Allowance for credit losses at end of period					(3,304)
Transition to ASU 2016-13 Adjustment | Term Loans and Finance Receivables
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period			2,800
Allowance for credit losses at end of period					2,800
Transition to ASU 2016-13 Adjustment | Lines of credit
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period			$ (6,104)
Allowance for credit losses at end of period					$ (6,104)

Loans and Finance Receivables_6

Loans and Finance Receivables Held for Investment and Allowance for Credit Losses (Non-delinquent, Paying and Non-paying Delinquent Loans) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Current loans and finance receivables	$ 502,016	$ 1,098,064
Delinquent: paying (accrual status)	241,517	38,514
Delinquent: non-paying (non-accrual status)	140,466	101,831
Total unpaid principal balance	883,999	1,238,409
Term Loans and Finance Receivables
Financing Receivable, Past Due [Line Items]
Current loans and finance receivables	360,587	842,083
Delinquent: paying (accrual status)	203,772	33,512
Delinquent: non-paying (non-accrual status)	115,153	84,971
Total unpaid principal balance	679,512	960,566
Lines of credit
Financing Receivable, Past Due [Line Items]
Current loans and finance receivables	141,429	255,981
Delinquent: paying (accrual status)	37,745	5,002
Delinquent: non-paying (non-accrual status)	25,313	16,860
Total unpaid principal balance	$ 204,487	$ 277,843

Loans and Finance Receivables_7

Loans and Finance Receivables Held for Investment and Allowance for Credit Losses (Aging Analysis of Term Loans) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Current loans and finance receivables	$ 502,016	$ 1,098,064
Delinquent: paying (accrual status)	241,517	38,514
Total unpaid principal balance	883,999	1,238,409
1-14 calendar days past due
Financing Receivable, Past Due [Line Items]
Delinquent: paying (accrual status)	32,579	28,375
15-29 calendar days past due
Financing Receivable, Past Due [Line Items]
Delinquent: paying (accrual status)	46,044	17,383
30-59 calendar days past due
Financing Receivable, Past Due [Line Items]
Delinquent: paying (accrual status)	88,282	25,067
60-89 calendar days past due
Financing Receivable, Past Due [Line Items]
Delinquent: paying (accrual status)	93,534	22,004
90 calendar days past due
Financing Receivable, Past Due [Line Items]
Delinquent: paying (accrual status)	121,544	47,516
Term Loans and Finance Receivables
Financing Receivable, Past Due [Line Items]
2017 and prior	424
Loans and financing receivable, originated in 2018	4,758
Loans and financing receivable, originated in 2019	346,290
Loans and financing receivable, originated in 2020	328,040
Current loans and finance receivables	360,587	842,083
Delinquent: paying (accrual status)	203,772	33,512
Total unpaid principal balance	679,512	960,566
Term Loans and Finance Receivables | Current loans and finance receivables
Financing Receivable, Past Due [Line Items]
2017 and prior	0
Loans and financing receivable, originated in 2018	717
Loans and financing receivable, originated in 2019	151,093
Loans and financing receivable, originated in 2020	208,777
Term Loans and Finance Receivables | 1-14 calendar days past due
Financing Receivable, Past Due [Line Items]
2017 and prior	0
Loans and financing receivable, originated in 2018	26
Loans and financing receivable, originated in 2019	14,523
Loans and financing receivable, originated in 2020	14,772
Delinquent: paying (accrual status)		23,426
Term Loans and Finance Receivables | 15-29 calendar days past due
Financing Receivable, Past Due [Line Items]
2017 and prior	0
Loans and financing receivable, originated in 2018	118
Loans and financing receivable, originated in 2019	22,607
Loans and financing receivable, originated in 2020	18,010
Delinquent: paying (accrual status)		15,153
Term Loans and Finance Receivables | 30-59 calendar days past due
Financing Receivable, Past Due [Line Items]
2017 and prior	0
Loans and financing receivable, originated in 2018	186
Loans and financing receivable, originated in 2019	42,124
Loans and financing receivable, originated in 2020	35,185
Delinquent: paying (accrual status)		20,647
Term Loans and Finance Receivables | 60-89 calendar days past due
Financing Receivable, Past Due [Line Items]
2017 and prior	0
Loans and financing receivable, originated in 2018	168
Loans and financing receivable, originated in 2019	46,597
Loans and financing receivable, originated in 2020	32,836
Delinquent: paying (accrual status)		18,527
Term Loans and Finance Receivables | 90 calendar days past due
Financing Receivable, Past Due [Line Items]
2017 and prior	424
Loans and financing receivable, originated in 2018	3,543
Loans and financing receivable, originated in 2019	69,346
Loans and financing receivable, originated in 2020	18,460
Delinquent: paying (accrual status)		40,730
Lines of credit
Financing Receivable, Past Due [Line Items]
Current loans and finance receivables	141,429	255,981
Delinquent: paying (accrual status)	37,745	5,002
Total unpaid principal balance	204,487	277,843
Lines of credit | 1-14 calendar days past due
Financing Receivable, Past Due [Line Items]
Delinquent: paying (accrual status)	3,258	4,949
Lines of credit | 15-29 calendar days past due
Financing Receivable, Past Due [Line Items]
Delinquent: paying (accrual status)	5,309	2,230
Lines of credit | 30-59 calendar days past due
Financing Receivable, Past Due [Line Items]
Delinquent: paying (accrual status)	10,787	4,419
Lines of credit | 60-89 calendar days past due
Financing Receivable, Past Due [Line Items]
Delinquent: paying (accrual status)	13,933	3,477
Lines of credit | 90 calendar days past due
Financing Receivable, Past Due [Line Items]
Delinquent: paying (accrual status)	$ 29,771	$ 6,787

Loans and Finance Receivables_8

Loans and Finance Receivables Held for Investment and Allowance for Credit Losses (Credit Quality) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans and finance receivables	$ 901,126	$ 1,265,312
Term loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and financing receivable, originated in 2020	290,690
Loans and financing receivable, originated in 2019	310,459
Loans and financing receivable, originated in 2018	4,217
2017 and prior	410
Total loans and finance receivables	604,776
W | Term loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and financing receivable, originated in 2020	115,034
Loans and financing receivable, originated in 2019	116,965
Loans and financing receivable, originated in 2018	1,284
2017 and prior	118
Total loans and finance receivables	233,401
X | Term loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and financing receivable, originated in 2020	65,508
Loans and financing receivable, originated in 2019	70,178
Loans and financing receivable, originated in 2018	1,198
2017 and prior	7
Total loans and finance receivables	136,891
Y | Term loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and financing receivable, originated in 2020	47,918
Loans and financing receivable, originated in 2019	60,585
Loans and financing receivable, originated in 2018	1,094
2017 and prior	20
Total loans and finance receivables	109,617
Z | Term loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and financing receivable, originated in 2020	62,230
Loans and financing receivable, originated in 2019	62,731
Loans and financing receivable, originated in 2018	641
2017 and prior	265
Total loans and finance receivables	$ 124,867

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 23, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Weighted Average Interest Rate at June 30, 2020	3.00%
Total	$ 680,371		$ 914,995
OnDeck Asset Securitization Trust II - Series 2018-1 | Secured Debt
Debt Instrument [Line Items]
Weighted Average Interest Rate at June 30, 2020	3.90%
Debt	$ 159,195		225,000
OnDeck Asset Securitization Trust II - Series 2019-1 | Secured Debt
Debt Instrument [Line Items]
Weighted Average Interest Rate at June 30, 2020	3.10%
Debt	$ 101,740		125,000
OnDeck Account Receivables Trust 2013-1 | Revolving Credit Facility
Debt Instrument [Line Items]
Weighted Average Interest Rate at June 30, 2020	1.90%
Debt	$ 80,295		129,512
Receivable Assets of OnDeck, LLC | Revolving Credit Facility
Debt Instrument [Line Items]
Weighted Average Interest Rate at June 30, 2020	1.80%
Debt	$ 61,838		94,099
OnDeck Asset Funding II LLC | Revolving Credit Facility
Debt Instrument [Line Items]
Weighted Average Interest Rate at June 30, 2020	3.20%
Debt	$ 89,798		123,840
Prime OnDeck Receivable Trust II | Revolving Credit Facility
Debt Instrument [Line Items]
Weighted Average Interest Rate at June 30, 2020	1.80%
Debt	$ 0		0
Loan Assets of OnDeck, LLC | Revolving Credit Facility
Debt Instrument [Line Items]
Weighted Average Interest Rate at June 30, 2020	1.90%
Debt	$ 65,159		120,665
Corporate line of credit | Revolving Credit Facility
Debt Instrument [Line Items]
Weighted Average Interest Rate at June 30, 2020	3.20%
Debt	$ 86,875	$ 40,000	40,000
International and other agreements
Debt Instrument [Line Items]
Weighted Average Interest Rate at June 30, 2020	3.60%
Debt	$ 41,216		64,585
Debt
Debt Instrument [Line Items]
Debt	686,116		922,701
Deferred debt issuance cost	(5,745)		(7,706)
Total	$ 680,371		$ 914,995

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)

Aug. 17, 2020

Aug. 07, 2020

Jul. 14, 2020

Jun. 23, 2020

Jun. 30, 2020

Jun. 30, 2019

Sep. 01, 2020

Aug. 03, 2020

Jul. 24, 2020

Jul. 23, 2020

Jul. 17, 2020

May 20, 2020

May 19, 2020

Mar. 23, 2020

Dec. 31, 2019

Debt Instrument [Line Items]

Loans held for investment that are pledged as collateral

$ 800,000,000

$ 1,100,000,000

Repayments of debt principal

508,363,000

$ 359,392,000

Loan Assets of OnDeck, LLC | Revolving Credit Facility

Debt Instrument [Line Items]

Debt

65,159,000

120,665,000

Receivable Assets of OnDeck, LLC | Revolving Credit Facility

Debt Instrument [Line Items]

Debt

61,838,000

94,099,000

OnDeck Asset Funding II LLC | Revolving Credit Facility

Debt Instrument [Line Items]

Debt

89,798,000

123,840,000

OnDeck Account Receivables Trust 2013-1 | Revolving Credit Facility

Debt Instrument [Line Items]

Line of credit, borrowing base

75.00%

80.00%

Line of credit

$ 125,000,000

$ 180,000,000

Debt

80,295,000

129,512,000

Corporate line of credit | Revolving Credit Facility

Debt Instrument [Line Items]

Repayments of debt principal

$ 5,000,000

Debt

$ 86,875,000

$ 40,000,000

$ 40,000,000

Subsequent Event | Loan Assets of OnDeck, LLC | Revolving Credit Facility

Debt Instrument [Line Items]

Line of credit, borrowing base

72.00%

Subsequent Event | Receivable Assets of OnDeck, LLC | Revolving Credit Facility

Debt Instrument [Line Items]

Line of credit, borrowing base

66.00%

Subsequent Event | OnDeck Asset Funding II LLC | Revolving Credit Facility

Debt Instrument [Line Items]

Line of credit, borrowing base

70.00%

Subsequent Event | OnDeck Account Receivables Trust 2013-1 | Revolving Credit Facility

Debt Instrument [Line Items]

Line of credit, borrowing base

66.00%

70.00%

Line of credit

$ 100,000,000

Subsequent Event | Corporate line of credit | Revolving Credit Facility

Debt Instrument [Line Items]

Repayments of debt principal

$ 21,000,000

$ 7,900,000

$ 8,100,000

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Assets and Liabilities Measured on Recurring Basis) (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
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	762,322,000	1,241,893,000
Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	1,000	0
Recurring Basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Recurring Basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	1,000	0
Recurring Basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Interest Rate Cap | Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate cap	1,000	0
Interest Rate Cap | Recurring Basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate cap	0	0
Interest Rate Cap | Recurring Basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate cap	1,000	0
Interest Rate Cap | Recurring Basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate cap	$ 0	$ 0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments (Assets and Liabilities Measured at Fair Value) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans and finance receivables, net	$ 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 and finance receivables, net	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 and finance receivables, net	762,322	1,241,893
Total assets	762,322	1,241,893
Fixed-rate debt	246,126	337,510
Total fixed-rate debt	246,126	337,510
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans and finance receivables, net	727,519	1,114,179
Total assets	727,519	1,114,179
Fixed-rate debt	260,935	350,000
Total fixed-rate debt	260,935	350,000
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans and finance receivables, net	762,322	1,241,893
Total assets	762,322	1,241,893
Fixed-rate debt	246,126	337,510
Total fixed-rate debt	$ 246,126	$ 337,510

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income tax provision	$ 0	$ 1,796,000		$ 0	$ 3,536,000
Income tax provision effective rate			45.00%		32.00%

Stock-Based Compensation and _3

Stock-Based Compensation and Employee Benefit Plans (Summary of Option Activity) (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)$ / sharesshares
Number of Options
Beginning balance (in shares) | shares	6,822,219
Exercised (in shares) | shares	(43,771)
Forfeited (in shares) | shares	(84,876)
Expired (in shares) | shares	(530,718)
Ending balance (in shares) | shares	6,162,854
Exercisable, number of options (in shares) | shares	5,758,457
Vested or expected to vest, number of options (in shares) | shares	6,143,505
Weighted- Average Exercise Price
Beginning balance (in dollars per share) | $ / shares	$ 5.68
Exercised (in dollars per share) | $ / shares	0.40
Forfeited (in dollars per share) | $ / shares	6.39
Expired (in dollars per share) | $ / shares	6.26
Ending balance (in dollars per share) | $ / shares	5.66
Exercisable, weighted-average exercise price (in dollars per share) | $ / shares	5.66
Vested or expected to vest, weighted-average exercise price (in dollars per share) | $ / shares	$ 5.66
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Outstanding, weighted-average remaining contractual term	4 years 6 months
Outstanding, aggregate intrinsic value | $	$ 357
Exercisable, weighted-average remaining contractual term	4 years 3 months 18 days
Exercisable, aggregate intrinsic value | $	$ 357
Vested or expected to vest, weighted-average remaining contractual term	4 years 6 months
Vested or expected to vest, aggregate intrinsic value | $	$ 357

Stock-Based Compensation and _4

Stock-Based Compensation and Employee Benefit Plans (Options) (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Compensation cost for nonvested option awards not yet recognized	$ 0.7
Weighted-average recognition period	1 year 7 months 6 days
Aggregate intrinsic value	$ 0.2	$ 1.4

Stock-Based Compensation and _5

Stock-Based Compensation and Employee Benefit Plans (Restricted Stock Unit Activity) (Details) - RSUs and PRSUs	6 Months Ended
	Jun. 30, 2020$ / sharesshares
Number of RSUs and PRSUs
Unvested beginning balance (in shares) | shares	4,185,560
RSUs and PRSUs granted (in shares) | shares	3,548,066
RSUs and PRSUs vested (in shares) | shares	(832,425)
RSUs and PRSUs forfeited/expired (in shares) | shares	(450,837)
Unvested ending balance (in shares) | shares	6,450,364
Expected to vest after September 30, 2019 (in shares) | shares	5,193,087
Weighted-Average Grant Date Fair Value Per Share
Unvested, beginning balance (in dollars per share) | $ / shares	$ 5.32
RSUs and PRSUs granted (in dollars per share) | $ / shares	2.49
RSUs and PRSUs vested (in dollars per share) | $ / shares	5.68
RSUs and PRSUs forfeited/expired (in dollars per share) | $ / shares	5.46
Unvested, ending balance (in dollars per share) | $ / shares	3.71
Expected to vest after September 30, 2019 (in dollars per share) | $ / shares	$ 3.69

Stock-Based Compensation and _6

Stock-Based Compensation and Employee Benefit Plans (Restricted Stock Units) (Narrative) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognition period	1 year 7 months 6 days
RSUs and PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 19.3
Recognition period	2 years 7 months 6 days

Stock-Based Compensation and _7

Stock-Based Compensation and Employee Benefit Plans (Stock-based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 2,247	$ 3,248	$ 3,663	$ 6,331
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	165	474	142	1,033
Technology and analytics
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	744	889	1,204	1,717
Processing and servicing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	47	49	146	139
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 1,291	$ 1,836	$ 2,171	$ 3,442

Business Combination (Narrative

Business Combination (Narrative) (Details) - USD ($) $ in Thousands	Apr. 01, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Impairment charge		$ (10,960)	$ 0	$ (10,960)	$ 0
Mezzanine equity balance		$ 6,888		$ 6,888		$ 6,900	$ 14,428
On Deck Capital Canada
Business Acquisition [Line Items]
Ownership percentage	58.50%
Purchase price	$ 16,700
Redeemable noncontrolling interest, fair value amount	$ 16,100

Business Combination - Schedule

Business Combination - Schedule of Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Apr. 01, 2019
Business Acquisition [Line Items]
Goodwill	$ 0	$ 11,532
On Deck Capital Canada
Business Acquisition [Line Items]
Loans and finance receivables			$ 36,763
Intangibles and other assets			2,810
Debt and other liabilities			(34,437)
Goodwill			11,585
Net assets acquired			$ 16,721

Business Combination - Schedu_2

Business Combination - Schedule of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Goodwill [Roll Forward]
Balance at December 31, 2019			$ 11,532
Foreign currency translation adjustment			(572)
Impairment charge	$ (10,960)	$ 0	(10,960)	$ 0
Balance at June 30, 2020	$ 0		$ 0

Derivatives and Hedging (Narrat

Derivatives and Hedging (Narrative) (Details) - Designated as Hedging Instrument - Interest Rate Cap	6 Months Ended
	Jun. 30, 2020USD ($)
Derivative [Line Items]
Derivative, notional amount	$ 300,000,000
Reclassification out of Accumulated Other Comprehensive Income
Derivative [Line Items]
Reclassified interest expense	$ 300,000

Derivative and Hedging (Fair Va

Derivative and Hedging (Fair Value by Balance Sheet Location) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Interest Rate Cap | Other Assets
Derivatives, Fair Value [Line Items]
Interest rate cap agreement	$ 1	$ 0

Derivatives and Hedging (Deriva

Derivatives and Hedging (Derivative Instruments, Gain (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate cap agreement	$ 234	$ (124)	$ 504	$ (866)
Interest Rate Cap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate cap agreement			$ 504	$ 866

Derivative and Hedging (Effects

Derivative and Hedging (Effects of Cash Flow Hedges) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Investment Income (Expense) | Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Interest expense	$ (236)	$ (204)	$ (503)	$ (338)

Going Concern (Details)

Going Concern (Details)	1 Months Ended
	Aug. 07, 2020
COVID-19 Pandemic | Subsequent Event
Unusual or Infrequent Item, or Both [Line Items]
Restructuring and related cost, number of positions eliminated, inception to date percent	20.00%

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)

Aug. 17, 2020

Aug. 07, 2020

Jul. 28, 2020

Jul. 14, 2020

Jun. 23, 2020

Aug. 07, 2020

Jun. 30, 2020

Jun. 30, 2020

Jun. 30, 2019

Aug. 03, 2020

Jul. 24, 2020

May 20, 2020

May 19, 2020

Subsequent Event [Line Items]

Repayments of debt principal

$ 508,363,000

$ 359,392,000

COVID-19 Pandemic

Subsequent Event [Line Items]

Restructuring charge

$ 2,800,000

COVID-19 Pandemic | Subsequent Event

Subsequent Event [Line Items]

Restructuring and related cost, number of positions eliminated, inception to date percent

20.00%

Corporate line of credit | Revolving Credit Facility

Subsequent Event [Line Items]

Repayments of debt principal

$ 5,000,000

Corporate line of credit | Revolving Credit Facility | Subsequent Event

Subsequent Event [Line Items]

Repayments of debt principal

$ 21,000,000

$ 7,900,000

$ 8,100,000

OnDeck Account Receivables Trust 2013-1 | Revolving Credit Facility

Subsequent Event [Line Items]

Line of credit, borrowing base

75.00%

80.00%

Line of credit

$ 125,000,000

$ 180,000,000

OnDeck Account Receivables Trust 2013-1 | Revolving Credit Facility | Subsequent Event

Subsequent Event [Line Items]

Line of credit, borrowing base

66.00%

70.00%

Line of credit

$ 100,000,000

Enova | Subsequent Event

Subsequent Event [Line Items]

Cash portion, cash per share for Enova common stock converted (in dollars per share)

$ 0.12

Stock portion, number of Enova common stock converted

0.092