#SME / OnDeck Originated $148M in Loans in Q3, is Moving Full Speed Ahead

[Enova’s CEO:] “We have basically all of our marketing channels turned on across consumer and small business [lending]… OnDeck is probably a little bit ahead of where we are on the Enova side. We were a little bit more cautious in our re-acceleration of our lending kind of going into the 3rd quarter but we are totally comfortable with that decision. If the biggest mistake we make… is waiting an extra 60 days to re-accelerate lending, we think that’s a great position to be in. We think that extra conservatism makes sense and with the rate that we’re re-accelerating lending, it won’t hurt that much in the long run.”

“On the small business side, the makeup of the demand is surprisingly similar to a year ago… Credit quality look really really strong. If anything it’s stronger – I think it’s the stronger businesses that are trying to borrow at this point…”

https://debanked.com/2020/10/ondeck-originated-148m-in-loans-in-q3-is-moving-full-speed-ahead-under-enova/