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07.03.25 - 17:09
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KBRA Assigns Preliminary Ratings to OnDeck Asset Securitization IV, LLC, Series 2025-1 (Business Wire)
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NEW YORK--(BUSINESS WIRE)--#creditratingagency--KBRA assigns preliminary ratings to notes issued by OnDeck Asset Securitization IV, LLC (“ODAS IV” or the “Issuer”). ODAS IV will issue four classes of Series 2025-1 Notes (“ODAS IV 2025-1”) totaling $261.392 million.
On Deck Capital Inc., which was founded in 2006, and ODK Capital, LLC, a wholly owned subsidiary of Enova International, Inc. formed in December 2020, (collectively “OnDeck” or the “Company”) operates through an online lending platform (www.ondeck.com) (the “OnDeck Platform”) to originate small business loans in the U.S. through its subsidiaries. The Company is a wholly owned subsidiary of Enova International, Inc. (“Enova”), a non-prime consumer and small business lender. Enova is a publicly traded fintech company under the ticker “ENVA”. Since its founding, OnDeck has originated over $20.9 billion to over 162,000 small businesses. OnDeck had 305 dedicated personnel as of December 2024.
ODAS IV 2025-1 represents...
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