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On Deck Capital: Delinquencies And Net Charge-Offs

The following excerpt is from the company's SEC filing.

The following Supplemental Data provides historical information relating to (1) delinquency experience for a specific subset of the Company's daily and weekly pay U.S. term loans, including both on-balance sheet loans and loans sold to investors, as further described in Item 7.01 of the Current Report on Form 8-K/A to which this Exhibit 99.1 is attached as of the dates indicated and (2) static pool net charge-off data for such loans originated in the particular year or quarter specified in such net charge-off table.

Delinquency Experience

12/31/2014

12/31/2013

12/31/ 2012

12/31/2011

12/31/2010

12/31/2009

Number of Term Loans Outstanding

16,362

11,875

Aggregate Unpaid Principal Balance

$700,922,890

$480,902,798

$203,427,357

$74,094,477

$41,749,930

$21,253,554

$16,802,249

Unpaid Principal Balance of Past Due Term Loans

1-14 missed payment factor

$20,940,518

$8,590,250

$3,603,407

$948,423

$689,993

$175,640

$183,932

15-30 missed payment factor

$9,940,721

$5,574,277

$2,807,159

$1,095,621

$312,761

$378,484

$141,289

31-45 missed payment factor

$8,487,509

$5,278,777

$2,017,662

$490,717

$393,891

$166,366

$86,904

46-60 missed payment factor

$7,155,524

$4,550,363

$2,132,221

$732,746

$86,105

$228,041

$106,270

60+ missed payment factor

$10,607,525

$5,431,098

$2,546,120

$523,483

$323,760

$73,253

$614,026

Term Loans past due as a percent of Unpaid Principal Balance

The delinquency experience is measured by the missed payment factors of the loans. The missed payment factor of a daily pay loan is the sum of the total past due amount of scheduled loan payments thereunder divided by the required daily scheduled loan payment thereunder plus the number of scheduled loan payment dates (if any) past the maturity date on which scheduled loan payments were due but not received on such loan. The missed payment factor of a weekly pay loan is calculated utilizing the same methodology, normalized to account for loans with only one scheduled payment date per week.

Cumulative Net Charge-Off Experience

Origination Vintage (based on calendar year)

2015 Q4

2015 Q3

2015 Q2

2015 Q1

Number of Loans Originated

18,026

Aggregate Original Principal Balance ($)

418,599,770

388,679,993

346,075,275

339,580,710

942,372,208

393,990,400

136,138,775

86,155,307

53,843,900

30,379,100

Cumulative Net Charge-Offs (as a percent of original principal balance)

Months since origination

The historical information above reflects net charge-offs for a specific subset of the Company’s daily and weekly pay U.S. term loans, including both on-balance sheet loans and loans sold to investors, as further described in Item 7.01 of the Current Report on Form 8-K/A to which this Exhibit 99.1 is attached that were charged-off by the Company in accordance with its then-existing policies and procedures. The Company’s policy for charge-offs changed from 150 calendar days to 90 calendar days in December 2010. The data shown above for the referenced annual or quarterly vintages represents the loans originated during such year or quarter as a static pool, and illustrates how such vintages have performed given equivalent months of seasoning.

Cumulative net charge-offs (as a percent of original principal balance) are only included for those vintages and months since origination for which performance history exists for each loan of such vintage over such number of months since origination.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

Asset-backed securitizer report pursuant to Section 15G, item 2.01 - April 20, 2016
Regulation FD - April 20, 2016
On Deck Capital: Delinquencies And Net Charge-Offs - April 19, 2016
On Deck Capital Inc releases salary data. CEO sees compensation rise 40% - March 28, 2016