EX-99.1 2 d783959dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

Delinquencies and Net Charge-Offs

The following Supplemental Data provides historical information relating to (1) delinquency experience as of the dates indicated for a specific subset of OnDeck’s daily, weekly and monthly pay U.S. term loans and lines of credit (as indicated in the headings below), 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 to which this Exhibit 99.1 is attached, (2) static pool net charge-off data for such term loans originated in the particular year or quarter specified in such net charge-off table and (3) annualized net charge-off data for such term loans and lines of credit (as indicated in the headings below) as of the particular year or quarter specified in such annualized net charge-off table.

Term Loan Delinquency Experience1, 2

 

     2/29/2024     12/31/2023     12/31/2022     12/31/2021     12/31/2020     12/31/2019     12/31/2018  

Number of Term Loans Outstanding

      21,257       20,443       18,026       11,951       10,473       19,576       21,116  

Aggregate Unpaid Principal Balance

    $ 1,141,299,274     $ 1,081,489,175     $ 958,035,405     $ 564,833,713     $ 402,659,159     $ 855,865,052     $ 892,216,278  
     Unpaid Principal Balance of Past Due Term Loans      

1-14 missed payment factor

    $ 24,268,072     $ 34,595,627     $ 41,980,019     $ 15,395,906     $ 14,295,617     $ 27,496,165     $ 29,859,987  

15-29 missed payment factor

    $ 27,579,555     $ 26,264,683     $ 25,013,844     $ 7,018,340     $ 11,737,335     $ 18,005,152     $ 17,017,747  

30-44 missed payment factor

    $ 22,481,273     $ 22,313,096     $ 20,890,824     $ 5,985,236     $ 4,681,417     $ 13,677,209     $ 12,643,866  

45-59 missed payment factor

    $ 23,601,855     $ 20,230,938     $ 14,293,284     $ 4,307,708     $ 3,017,883     $ 12,827,053     $ 12,090,837  

60+ non-write off paying

    $ 33,203,925     $ 26,936,769     $ 15,727,287     $ 14,702,587     $ 50,240,781     $ 17,877,544     $ 18,208,895  

60+ non-write off not paying

    $ 16,494,015     $ 18,655,548     $ 12,841,244     $ 6,794,343     $ 15,395,179     $ 26,591,630     $ 11,970,251  

Total 61+ missed payment factor

    $ 49,697,940     $ 45,592,317     $ 28,568,531     $ 21,496,930     $ 65,635,960     $ 44,469,174     $ 30,179,146  
     Term Loans past due as a % of Unpaid Principal Balance  

1-14 missed payment factor

      2.13 %      3.20 %      4.38 %      2.73 %      3.55 %      3.21 %      3.35 % 

15-29 missed payment factor

      2.42 %      2.43 %      2.61 %      1.24 %      2.91 %      2.10 %      1.91 % 

30-44 missed payment factor

      1.97 %      2.06 %      2.18 %      1.06 %      1.16 %      1.60 %      1.42 % 

45-59 missed payment factor

      2.07 %      1.87 %      1.49 %      0.76 %      0.75 %      1.50 %      1.36 % 

60+ non-write off paying

      2.91 %      2.49 %      1.64 %      2.60 %      12.48 %      2.09 %      2.04 % 

60+ non-write off not paying

      1.45 %      1.72 %      1.34 %      1.20 %      3.82 %      3.11 %      1.34 % 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

1 

The delinquency experience is measured by the missed payment factors of the term loans in the Term Loan Comparable Serviced Portfolio. 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 payment 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 per week and the missed payment factor of a monthly pay loan is calculated utilizing the same methodology, normalized to account for loans with only one scheduled payment per month.

2 

Paid off Term Loans are viewed as $0 Unpaid Principal Balance.

Line of Credit Delinquency Experience3, 4

 

     2/29/2024     12/31/2023     12/31/2022     12/31/2021     12/31/2020     12/31/2019     12/31/2018  

Number of Lines of Credit Outstanding

      18,867       18,288       19,756       16,554       15,455       16,679       15,228  

Aggregate Unpaid Principal Balance

    $ 331,595,112     $ 311,773,099     $ 282,797,470     $ 188,025,712     $ 155,613,216     $ 270,513,213     $ 181,076,699  
     Unpaid Principal Balance of Past Due Lines of Credit    

1-14 missed payment factor

    $ 5,775,001     $ 9,271,368     $ 7,582,731     $ 2,719,867     $ 3,096,656     $ 5,563,570     $ 3,142,169  

15-29 missed payment factor

    $ 5,388,079     $ 5,116,921     $ 4,472,181     $ 1,305,146     $ 1,553,464     $ 3,390,316     $ 2,057,493  

30-44 missed payment factor

    $ 5,179,508     $ 4,575,375     $ 3,469,618     $ 909,273     $ 909,064     $ 3,085,334     $ 1,808,989  

45-59 missed payment factor

    $ 4,241,247     $ 4,375,194     $ 2,363,179     $ 640,028     $ 957,284     $ 2,326,662     $ 1,039,825  

60+ non-write off paying

    $ 6,502,013     $ 5,662,676     $ 2,197,777     $ 2,094,009     $ 8,552,818     $ 1,950,686     $ 1,257,142  

60+ non-write off not paying

    $ 4,150,111     $ 5,725,349     $ 1,596,918     $ 2,080,632     $ 4,316,801     $ 5,099,439     $ 3,255,459  

Total 61+ missed payment factor

    $ 10,652,124     $ 11,388,025     $ 3,794,694     $ 4,174,641     $ 12,869,619     $ 7,050,124     $ 4,512,602  
     Lines of Credit past due as a % of Unpaid Principal Balance  

1-14 missed payment factor

      1.74 %      2.97 %      2.68 %      1.45 %      1.99 %      2.06 %      1.74 % 

15-29 missed payment factor

      1.62 %      1.64 %      1.58 %      0.69 %      1.00 %      1.25 %      1.14 % 

30-44 missed payment factor

      1.56 %      1.47 %      1.23 %      0.48 %      0.58 %      1.14 %      1.00 % 

45-59 missed payment factor

      1.28 %      1.40 %      0.84 %      0.34 %      0.62 %      0.86 %      0.57 % 

60+ non-write off paying

      1.96 %      1.82 %      0.78 %      1.11 %      5.50 %      0.72 %      0.69 % 

60+ non-write off not paying

      1.25 %      1.84 %      0.56 %      1.11 %      2.77 %      1.89 %      1.80 % 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

3 

The delinquency experience is measured by the missed payment factors of the line of credit loans in the Line of Credit Comparable Serviced Portfolio. 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 payment 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 per week and the missed payment factor of a monthly pay loan is calculated utilizing the same methodology, normalized to account for loans with only one scheduled payment per month. Historically, line of credit loans have been weekly pay loans.

4 

Dormant Lines of Credit are viewed as $0 Unpaid Principal Balance.

Term Loan Cumulative Net Charge-Off Experience5

Origination Vintages (based on calendar year or quarter): Overall

 

     2023 Q4     2023 Q3     2023 Q2     2023 Q1     2022     2021     2020     2019     2018  

Number of Loans Originated

      6,839       6,193       5,429       5,537       23,005       15,091       10,944       28,717       31,070  

Aggregate Original Principal Balance

    $ 525,383,724     $ 457,971,694     $ 408,139,914     $ 423,014,079     $ 1,647,613,230     $ 951,026,442     $ 658,440,346     $ 1,708,671,260     $ 1,835,659,879  
Cumulative Net Charge-Offs (as a % of aggregate original principal balance)6  
Months Since
Origination		    2023 Q4     2023 Q3     2023 Q2     2023 Q1     2022     2021     2020     2019     2018  

1

      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.01 % 

2

      0.00 %      0.00 %      0.00 %      0.00 %      0.01 %      0.03 %      0.01 %      0.03 %      0.04 % 

3

      0.01 %      0.00 %      0.00 %      0.00 %      0.03 %      0.09 %      0.15 %      0.07 %      0.10 % 

4

        0.05 %      0.18 %      0.22 %      0.27 %      0.30 %      0.39 %      0.23 %      0.28 % 

5

        0.87 %      0.85 %      0.76 %      1.23 %      0.89 %      0.72 %      0.83 %      0.82 % 

6

        2.21 %      2.04 %      1.75 %      2.54 %      1.83 %      1.30 %      1.71 %      1.75 % 

7

          3.20 %      2.69 %      3.81 %      2.67 %      1.90 %      2.56 %      2.77 % 

8

          4.55 %      3.97 %      5.15 %      3.72 %      2.71 %      3.57 %      3.79 % 

9

          5.33 %      5.33 %      6.36 %      4.44 %      3.53 %      4.51 %      4.65 % 

10

            6.16 %      7.41 %      5.17 %      4.20 %      5.39 %      5.40 % 

11

            6.82 %      8.40 %      5.72 %      4.62 %      6.25 %      5.85 % 

12

            7.58 %      9.17 %      6.25 %      4.98 %      6.85 %      6.28 % 

13

              9.96 %      6.54 %      5.21 %      7.39 %      6.63 % 

14

              10.59 %      6.72 %      5.42 %      7.80 %      6.92 % 

15

              11.02 %      6.89 %      5.46 %      8.22 %      7.12 % 

16

                7.04 %      5.60 %      8.50 %      7.29 % 

17

                7.18 %      5.64 %      8.76 %      7.44 % 

18

                7.28 %      5.65 %      8.87 %      7.62 % 

19

                7.33 %      5.68 %      8.98 %      7.71 % 

20

                7.39 %      5.73 %      9.01 %      7.81 % 

21

                7.37 %      5.69 %      9.04 %      7.84 % 

22

                7.38 %      5.69 %      9.07 %      7.86 % 

23

                7.38 %      5.63 %      9.07 %      7.87 % 

24

                7.35 %      5.59 %      9.06 %      7.87 % 

25

                7.33 %      5.58 %      9.02 %      7.87 % 

26

                7.29 %      5.55 %      8.99 %      7.86 % 

27

                7.23 %      5.47 %      8.94 %      7.84 % 

28

                  5.42 %      8.89 %      7.82 % 

29

                  5.37 %      8.83 %      7.81 % 

30

                  5.35 %      8.77 %      7.79 % 

 

5 

The historical information in the tables in this section reflect net charge-offs in respect of the Term Loan Comparable Serviced Portfolio that were charged-off by the Seller and/or On Deck Capital, Inc. in accordance with their then-existing policies and procedures. A Pooled Loan will be deemed a Charged-Off Loan under the Indenture if it is charged-off by the Seller and/or On Deck Capital, Inc. in accordance with their Credit Policies or it has a Missed Payment Factor (i) in the case of Daily Pay Loans, higher than 60, (ii) in the case of Weekly Pay Loans, higher than 12 and (iii) in the case of Monthly Pay Loans, higher than 3. 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.

6 

Cumulative net charge-offs (as a % of aggregate 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.

Origination Vintages (based on calendar year or quarter): OnDeck Score < 470  
     2023 Q4     2023 Q3     2023 Q2     2023 Q1     2022     2021     2020     2019     2018  

Number of Loans Originated

      24       46       87       87       793       834       331       1,034       1,753  

Aggregate Original Principal Balance

    $ 1,582,944     $ 2,791,554     $ 5,318,168     $ 4,786,264     $ 27,954,673     $ 27,059,170     $ 8,521,102     $ 26,174,248     $ 42,028,278  
Cumulative Net Charge-Offs (as a % of aggregate original principal balance) 7  

Months Since

Origination

    2023 Q4     2023 Q3     2023 Q2     2023 Q1     2022     2021     2020     2019     2018  

1

      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 % 

2

      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.17 %      0.00 %      0.10 %      0.24 % 

3

      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.21 %      0.14 %      0.15 %      0.56 % 

4

        0.00 %      0.00 %      0.00 %      0.56 %      0.71 %      0.14 %      0.39 %      1.24 % 

5

        4.98 %      9.17 %      3.26 %      4.09 %      3.08 %      0.72 %      2.51 %      3.00 % 

6

        8.04 %      15.54 %      5.54 %      6.98 %      8.09 %      1.50 %      4.61 %      5.76 % 

7

          18.53 %      8.94 %      11.02 %      10.65 %      3.26 %      6.64 %      8.99 % 

8

          18.48 %      9.67 %      13.40 %      13.53 %      5.03 %      8.64 %      12.20 % 

9

          18.48 %      11.25 %      15.71 %      15.63 %      5.79 %      10.32 %      13.90 % 

10

            11.46 %      17.23 %      16.55 %      6.44 %      11.83 %      14.93 % 

11

            14.47 %      18.52 %      16.27 %      7.41 %      12.68 %      15.56 % 

12

            14.47 %      19.83 %      16.65 %      8.31 %      13.77 %      15.86 % 

13

              20.86 %      16.78 %      8.46 %      13.89 %      16.48 % 

14

              21.03 %      17.13 %      8.86 %      13.98 %      16.78 % 

15

              21.25 %      17.15 %      9.06 %      14.05 %      16.97 % 

16

                17.10 %      9.31 %      14.73 %      16.97 % 

17

                17.09 %      9.44 %      14.81 %      16.96 % 

18

                17.09 %      9.36 %      14.61 %      16.96 % 

19

                16.44 %      9.33 %      14.66 %      16.88 % 

20

                16.39 %      9.04 %      14.57 %      16.84 % 

21

                16.35 %      9.01 %      14.49 %      16.80 % 

22

                16.26 %      8.97 %      14.33 %      16.75 % 

23

                16.20 %      8.88 %      14.36 %      16.66 % 

24

                16.12 %      8.83 %      14.27 %      16.60 % 

25

                16.03 %      8.65 %      14.16 %      16.56 % 

26

                15.95 %      8.57 %      14.04 %      16.48 % 

27

                15.86 %      8.48 %      13.90 %      16.34 % 

28

                  8.41 %      13.79 %      16.16 % 

29

                  8.33 %      13.77 %      16.09 % 

30

                  8.16 %      13.65 %      16.06 % 

 

7 

Cumulative net charge-offs (as a % of aggregate 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.

Origination Vintages (based on calendar year or quarter): OnDeck Score 470-499  
     2023 Q4     2023 Q3     2023 Q2     2023 Q1     2022     2021     2020     2019     2018  

Number of Loans Originated

      625       703       525       238       4,114       3,082       1,510       4,600       5,856  

Aggregate Original Principal Balance

    $ 28,383,514     $ 35,602,199     $ 29,740,921     $ 16,531,885     $ 203,415,181     $ 150,873,809     $ 57,734,557     $ 176,893,016     $ 229,466,667  
Cumulative Net Charge-Offs (as a % of aggregate original principal balance) 8  
Months Since
Origination		    2023 Q4     2023 Q3     2023 Q2     2023 Q1     2022     2021     2020     2019     2018  

1

      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 % 

2

      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.03 %      0.00 %      0.09 %      0.05 % 

3

      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.06 %      0.24 %      0.28 %      0.19 % 

4

        0.20 %      0.08 %      1.22 %      0.61 %      0.55 %      0.97 %      0.79 %      0.69 % 

5

        1.74 %      1.10 %      1.75 %      3.19 %      1.96 %      1.59 %      2.21 %      1.96 % 

6

        3.96 %      3.41 %      2.14 %      6.16 %      4.40 %      2.83 %      4.75 %      4.11 % 

7

          8.09 %      2.38 %      8.58 %      6.36 %      3.78 %      6.36 %      6.21 % 

8

          9.66 %      4.91 %      11.28 %      9.46 %      4.81 %      8.35 %      7.99 % 

9

          10.14 %      7.14 %      13.36 %      11.29 %      6.64 %      10.01 %      9.73 % 

10

            10.46 %      14.82 %      12.95 %      7.32 %      11.10 %      11.07 % 

11

            12.10 %      16.80 %      14.15 %      8.11 %      12.81 %      12.00 % 

12

            14.31 %      18.18 %      15.37 %      8.95 %      13.95 %      12.56 % 

13

              19.72 %      15.88 %      9.57 %      14.71 %      13.05 % 

14

              20.70 %      16.16 %      9.90 %      15.30 %      13.50 % 

15

              21.30 %      16.24 %      9.88 %      15.63 %      13.86 % 

16

                16.55 %      10.33 %      16.00 %      14.09 % 

17

                16.72 %      10.26 %      16.22 %      14.28 % 

18

                17.04 %      10.26 %      16.26 %      14.50 % 

19

                17.03 %      10.16 %      16.28 %      14.54 % 

20

                17.21 %      10.11 %      16.21 %      14.53 % 

21

                17.09 %      9.87 %      16.11 %      14.61 % 

22

                17.04 %      9.99 %      16.06 %      14.53 % 

23

                17.07 %      9.88 %      15.95 %      14.52 % 

24

                17.04 %      9.84 %      15.94 %      14.51 % 

25

                16.99 %      9.82 %      15.91 %      14.47 % 

26

                16.99 %      9.68 %      15.83 %      14.44 % 

27

                16.93 %      9.57 %      15.76 %      14.37 % 

28

                  9.44 %      15.71 %      14.35 % 

29

                  9.30 %      15.62 %      14.31 % 

30

                  9.16 %      15.49 %      14.23 % 

 

8 

Cumulative net charge-offs (as a % of aggregate 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.

Origination Vintages (based on calendar year or quarter): OnDeck Score 500-529  
     2023 Q4     2023 Q3     2023 Q2     2023 Q1     2022     2021     2020     2019     2018  

Number of Loans Originated

      2,841       2,473       2,169       2,288       8,795       4,794       3,282       8,711       9,007  

Aggregate Original Principal Balance

    $ 172,881,748     $ 147,802,073     $ 132,051,133     $ 145,131,823     $ 595,415,252     $ 291,601,858     $ 176,638,609     $ 472,686,919     $ 496,682,710  
Cumulative Net Charge-Offs (as a % of aggregate original principal balance) 9  
Months Since
Origination		    2023 Q4     2023 Q3     2023 Q2     2023 Q1     2022     2021     2020     2019     2018  

1

      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.03 % 

2

      0.01 %      0.00 %      0.00 %      0.00 %      0.01 %      0.06 %      0.00 %      0.03 %      0.06 % 

3

      0.04 %      0.00 %      0.00 %      0.00 %      0.06 %      0.15 %      0.24 %      0.09 %      0.14 % 

4

        0.09 %      0.32 %      0.13 %      0.33 %      0.45 %      0.60 %      0.33 %      0.35 % 

5

        1.43 %      0.98 %      0.84 %      1.57 %      1.01 %      1.19 %      1.21 %      1.29 % 

6

        3.12 %      2.74 %      2.48 %      3.21 %      2.05 %      2.15 %      2.28 %      2.52 % 

7

          4.03 %      3.92 %      4.90 %      3.11 %      3.26 %      3.47 %      3.96 % 

8

          5.73 %      5.90 %      6.66 %      4.04 %      4.40 %      4.79 %      5.20 % 

9

          6.72 %      7.95 %      8.31 %      4.85 %      5.64 %      6.29 %      6.34 % 

10

            9.32 %      10.03 %      5.83 %      6.43 %      7.53 %      7.45 % 

11

            10.30 %      11.21 %      6.54 %      7.21 %      8.91 %      8.10 % 

12

            11.42 %      12.14 %      7.34 %      7.74 %      9.72 %      8.71 % 

13

              13.16 %      7.79 %      8.05 %      10.56 %      9.05 % 

14

              14.11 %      8.05 %      8.38 %      11.15 %      9.41 % 

15

              14.76 %      8.37 %      8.48 %      11.64 %      9.64 % 

16

                8.60 %      8.58 %      11.89 %      9.80 % 

17

                8.80 %      8.62 %      12.34 %      10.08 % 

18

                8.91 %      8.67 %      12.52 %      10.32 % 

19

                9.02 %      8.68 %      12.65 %      10.49 % 

20

                9.04 %      8.81 %      12.68 %      10.60 % 

21

                9.05 %      8.78 %      12.69 %      10.61 % 

22

                9.05 %      8.74 %      12.69 %      10.69 % 

23

                9.01 %      8.70 %      12.76 %      10.69 % 

24

                8.98 %      8.62 %      12.70 %      10.70 % 

25

                8.97 %      8.65 %      12.70 %      10.72 % 

26

                8.92 %      8.66 %      12.68 %      10.72 % 

27

                8.79 %      8.56 %      12.62 %      10.68 % 

28

                  8.48 %      12.54 %      10.66 % 

29

                  8.43 %      12.41 %      10.64 % 

30

                  8.37 %      12.34 %      10.62 % 

 

9 

Cumulative net charge-offs (as a % of aggregate 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.

Origination Vintages (based on calendar year or quarter): OnDeck Score 530-559  
     2023 Q4     2023 Q3     2023 Q2     2023 Q1     2022     2021     2020     2019     2018  

Number of Loans Originated

      2,240       1,990       1,795       1,971       5,921       3,833       3,341       8,336       8,263  

Aggregate Original Principal Balance

    $ 201,408,280     $ 171,567,572     $ 154,615,976     $ 164,703,215     $ 500,477,163     $ 275,298,612     $ 219,069,951     $ 541,210,531     $ 557,559,854  
Cumulative Net Charge-Offs (as a % of aggregate original principal balance) 10  
Months Since
Origination		    2023 Q4     2023 Q3     2023 Q2     2023 Q1     2022     2021     2020     2019     2018  

1

      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 % 

2

      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.02 %      0.02 %      0.03 %      0.02 % 

3

      0.00 %      0.00 %      0.00 %      0.00 %      0.02 %      0.06 %      0.15 %      0.03 %      0.07 % 

4

        0.01 %      0.20 %      0.09 %      0.16 %      0.15 %      0.33 %      0.15 %      0.22 % 

5

        0.61 %      0.79 %      0.58 %      0.52 %      0.51 %      0.63 %      0.63 %      0.46 % 

6

        1.84 %      1.51 %      1.48 %      1.37 %      0.83 %      1.06 %      1.43 %      1.17 % 

7

          2.43 %      2.46 %      2.13 %      1.25 %      1.40 %      2.26 %      1.94 % 

8

          4.06 %      3.53 %      3.06 %      1.86 %      2.04 %      3.15 %      2.86 % 

9

          4.90 %      4.75 %      3.92 %      2.20 %      2.52 %      3.94 %      3.57 % 

10

            5.32 %      4.51 %      2.57 %      3.24 %      4.79 %      4.10 % 

11

            5.80 %      5.31 %      3.01 %      3.57 %      5.51 %      4.44 % 

12

            6.45 %      5.94 %      3.24 %      3.76 %      6.06 %      4.89 % 

13

              6.47 %      3.49 %      3.96 %      6.58 %      5.27 % 

14

              6.88 %      3.62 %      4.22 %      6.94 %      5.52 % 

15

              7.18 %      3.80 %      4.24 %      7.48 %      5.72 % 

16

                3.86 %      4.45 %      7.82 %      5.92 % 

17

                4.02 %      4.57 %      8.05 %      6.06 % 

18

                4.07 %      4.49 %      8.17 %      6.22 % 

19

                4.22 %      4.49 %      8.33 %      6.34 % 

20

                4.29 %      4.57 %      8.40 %      6.47 % 

21

                4.28 %      4.54 %      8.46 %      6.50 % 

22

                4.33 %      4.50 %      8.51 %      6.52 % 

23

                4.36 %      4.40 %      8.48 %      6.54 % 

24

                4.31 %      4.37 %      8.49 %      6.53 % 

25

                4.30 %      4.34 %      8.45 %      6.53 % 

26

                4.25 %      4.29 %      8.36 %      6.53 % 

27

                4.22 %      4.20 %      8.30 %      6.51 % 

28

                  4.16 %      8.26 %      6.51 % 

29

                  4.09 %      8.24 %      6.49 % 

30

                  4.08 %      8.18 %      6.46 % 

 

10 

Cumulative net charge-offs (as a % of aggregate 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.

Origination Vintages (based on calendar year or quarter): OnDeck Score 560+  
     2023 Q4     2023 Q3     2023 Q2     2023 Q1     2022     2021     2020     2019     2018  

Number of Loans Originated

      1,109       981       853       953       3,382       2,548       2,480       6,036       6,191  

Aggregate Original Principal Balance

    $ 121,127,237     $ 100,208,296     $ 86,413,716     $ 91,860,892     $ 320,350,960     $ 206,192,993     $ 196,476,127     $ 491,706,545     $ 509,922,369  
Cumulative Net Charge-Offs (as a % of aggregate original principal balance)11  
Months Since
Origination		    2023 Q4     2023 Q3     2023 Q2     2023 Q1     2022     2021     2020     2019     2018  

1

      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 % 

2

      0.00 %      0.00 %      0.00 %      0.00 %      0.02 %      0.00 %      0.03 %      0.00 %      0.00 % 

3

      0.00 %      0.00 %      0.00 %      0.00 %      0.02 %      0.03 %      0.04 %      0.00 %      0.01 % 

4

        0.00 %      0.00 %      0.42 %      0.07 %      0.07 %      0.10 %      0.01 %      0.01 % 

5

        0.08 %      0.16 %      0.66 %      0.21 %      0.14 %      0.16 %      0.10 %      0.05 % 

6

        0.69 %      0.62 %      0.81 %      0.45 %      0.14 %      0.36 %      0.24 %      0.25 % 

7

          0.67 %      0.92 %      0.75 %      0.20 %      0.65 %      0.45 %      0.47 % 

8

          1.00 %      1.28 %      1.02 %      0.27 %      1.22 %      0.86 %      0.85 % 

9

          1.51 %      1.59 %      1.31 %      0.38 %      1.75 %      1.13 %      1.14 % 

10

            1.62 %      1.53 %      0.52 %      2.26 %      1.58 %      1.50 % 

11

            1.81 %      1.79 %      0.61 %      2.33 %      1.81 %      1.64 % 

12

            1.98 %      2.07 %      0.66 %      2.54 %      2.06 %      1.81 % 

13

              2.31 %      0.67 %      2.61 %      2.26 %      2.05 % 

14

              2.50 %      0.70 %      2.62 %      2.52 %      2.24 % 

15

              2.62 %      0.72 %      2.65 %      2.79 %      2.35 % 

16

                0.80 %      2.64 %      2.96 %      2.47 % 

17

                0.80 %      2.62 %      3.09 %      2.53 % 

18

                0.83 %      2.71 %      3.16 %      2.67 % 

19

                0.81 %      2.82 %      3.25 %      2.69 % 

20

                0.82 %      2.83 %      3.29 %      2.80 % 

21

                0.81 %      2.84 %      3.33 %      2.81 % 

22

                0.85 %      2.87 %      3.40 %      2.84 % 

23

                0.85 %      2.85 %      3.43 %      2.88 % 

24

                0.85 %      2.82 %      3.43 %      2.87 % 

25

                0.84 %      2.85 %      3.38 %      2.87 % 

26

                0.84 %      2.82 %      3.40 %      2.88 % 

27

                0.83 %      2.79 %      3.38 %      2.89 % 

28

                  2.77 %      3.37 %      2.88 % 

29

                  2.75 %      3.33 %      2.89 % 

30

                  2.80 %      3.31 %      2.90 % 

 

11 

Cumulative net charge-offs (as a % of aggregate 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.

Term Loan Annualized Net Charge-Offs Experience12

 

     As of 2/29/24     2023     2022     2021     2020     2019     2018  

Average Number of Term Loans Outstanding

      19,496       19,036       15,168       10,393       15,214       20,913       19,319  

Average Aggregate Unpaid Principal Balance

    $ 1,018,970,109     $ 993,254,961     $ 758,587,857     $ 442,684,455     $ 632,006,246     $ 867,112,999     $ 834,373,964  

Net Charge-offs

    $ 35,733,899     $ 179,053,095     $ 79,759,902     $ 24,065,421     $ 132,424,601     $ 129,489,502     $ 101,464,659  

Annualized Net Charge-off Rate

      3.51 %      18.03 %      10.51 %      5.44 %      20.95 %      14.93 %      12.16 % 

Line of Credit Annualized Net Charge-Offs Experience13

 

     As of 2/29/24     2023     2022     2021     2020     2019     2018  

Average Number of Lines of Credit Outstanding

      18,180       18,198       18,196       15,883       16,262       16,089       13,958  

Average Aggregate Unpaid Principal Balance

    $ 301,425,706     $ 295,547,685     $ 230,440,737     $ 167,302,531     $ 215,177,950     $ 226,832,530     $ 148,836,152  

Net Charge-offs

    $ 9,464,559     $ 42,524,402     $ 14,719,938     $ 7,849,107     $ 32,804,478     $ 22,555,856     $ 12,410,990  

Annualized Net Charge-off Rate

      3.14 %      14.39 %      6.39 %      4.69 %      15.25 %      9.94 %      8.34 % 

 

12 

The historical information in this table reflects net charge-offs in respect of the Term Loan Comparable Serviced Portfolio that were charged-off by the Seller and/or On Deck Capital, Inc in accordance with its then-existing policies and procedures. A Pooled Loan will be deemed a Charged-Off Loan under the Indenture if it is charged-off by the Seller and/or On Deck Capital, Inc in accordance with its Credit Policies or it has a Missed Payment Factor (i) in the case of Daily Pay Loans, higher than 60, (ii) in the case of Weekly Pay Loans, higher than 12 and (iii) in the case of Monthly Pay Loans, higher than 3.

13 

The historical information in this table reflects net charge-offs in respect of the Line of Credit Comparable Serviced Portfolio that were charged-off by the Seller in accordance with its then-existing policies and procedures. A Pooled Loan will be deemed a Charged-Off Loan under the Indenture if it is charged-off by the Seller in accordance with its Credit Policies or it has a Missed Payment Factor (i) in the case of Daily Pay Loans, higher than 60, (ii) in the case of Weekly Pay Loans, higher than 12 and (iii) in the case of Monthly Pay Loans, higher than 3.