2/28/2021

12/31/2020

12/31/2019

12/31/2018

12/31/2017

12/31/2016

12/31/2015

Number of Term Loans Outstanding

9,969

10,477

19,582

21,121

17,888

20,198

17,174

Aggregate Unpaid Principal Balance

$396,631,036

$402,660,505

$855,884,464

$892,213,085

$776,689,305

$995,446,615

$787,285,559

Unpaid Principal Balance of Past Due Term Loans

1-14 missed payment factor

$8,566,252

$10,425,813

$20,467,702

$29,459,147

$38,477,893

$38,505,947

$34,274,349

15-30 missed payment factor

$6,520,857

$9,601,349

$19,885,522

$20,241,459

$17,032,209

$20,675,415

$13,552,302

31-45 missed payment factor

$4,081,212

$4,815,619

$13,473,878

$13,738,716

$10,710,247

$15,527,093

$10,829,366

46-60 missed payment factor

$5,235,358

$7,555,912

$12,098,308

$12,410,006

$7,906,808

$13,730,940

$8,470,734

61+ missed payment factor

$91,465,569

$112,451,434

$58,300,365

$30,730,149

$18,857,558

$13,881,197

$11,434,461

Term Loans past due as a % of Unpaid Principal Balance

1-14 missed payment factor

2.16%

2.59%

2.39%

3.30%

4.95%

3.87%

4.35%

15-30 missed payment factor

1.64%

2.38%

2.32%

2.27%

2.19%

2.08%

1.72%

31-45 missed payment factor

1.03%

1.20%

1.57%

1.54%

1.38%

1.56%

1.38%

46-60 missed payment factor

1.32%

1.88%

1.41%

1.39%

1.02%

1.38%

1.08%

61+ missed payment factor²

23.06%

27.93%

6.81%

3.44%

2.43%

1.39%

1.45%

¹ 

The delinquency experience is measured by the missed payment factors of the term 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 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 

In 2018, OnDeck began expanding its in-house collection efforts including by holding, and collecting on, delinquent loans rather than charging off and selling such loans to third parties, with the goal of achieving higher net recoveries over time. By year-end 2019, OnDeck retained all or substantially all of its delinquent loans in accordance with such collections strategy, which contributed to the year-over-year increase in the 61+ missed payment factor delinquency experience. OnDeck may charge off delinquent loans in accordance with their then current policies and procedures. Beginning in March 2020 and continuing into 2021, OnDeck extended the permitted time period for certain temporary modifications to delinquent loans to obligors impacted by COVID-19. This extended period for temporary modifications contributed to the increase in the 61+ missed payment factor delinquency experience beginning in 2020.

2/28/2021

12/31/2020

12/31/2019

12/31/2018

12/31/2017

12/31/2016

12/31/2015

Number of Line of Credit Loans Outstanding

15,358

15,268

16,501

14,994

12,804

11,599

6,758

Aggregate Unpaid Principal Balance

$155,665,446

$154,109,420

$268,203,418

$179,067,628

$122,138,217

$103,051,711

$53,959,047

Unpaid Principal Balance of Past Due Lines of Credit

1-14 missed payment factor

$2,384,571

$3,007,772

$5,514,611

$3,038,798

$2,424,727

$2,888,968

$3,931,174

15-30 missed payment factor

$1,388,620

$1,793,468

$3,377,530

$2,323,566

$1,755,041

$1,460,301

$972,923

31-45 missed payment factor

$911,848

$830,135

$3,068,239

$1,785,963

$1,422,384

$1,317,303

$466,998

46-60 missed payment factor

$1,001,741

$869,925

$2,345,386

$887,877

$1,170,501

$1,159,241

$545,196

61+ missed payment factor⁴

$9,850,203

$12,471,943

$6,984,546

$4,328,608

$1,632,666

$757,016

$525,534

Lines of Credit past due as a % of Unpaid Principal Balance

1-14 missed payment factor

1.53%

1.95%

2.06%

1.70%

1.98%

2.80%

7.28%

15-30 missed payment factor

0.89%

1.16%

1.26%

1.30%

1.44%

1.42%

1.80%

31-45 missed payment factor

0.59%

0.54%

1.14%

1.00%

1.16%

1.28%

0.87%

46-60 missed payment factor

0.64%

0.56%

0.87%

0.50%

0.96%

1.12%

1.01%

61+ missed payment factor

6.33%

8.09%

2.60%

2.42%

1.34%

0.73%

0.97%

³ 

The delinquency experience is measured by the missed payment factors of the line of credit 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 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 

In 2018, OnDeck began expanding its in-house collection efforts including by holding, and collecting on, delinquent loans rather than charging off and selling such loans to third parties, with the goal of achieving higher net recoveries over time. By year-end 2019, OnDeck retained all or substantially all of its delinquent loans in accordance with such collections strategy, which contributed to the year-over-year increase in the 61+ missed payment factor delinquency experience. OnDeck may charge off delinquent loans in accordance with their then current policies and procedures. Beginning in March 2020 and continuing into 2021, OnDeck extended the permitted time period for certain temporary modifications to delinquent loans to obligors impacted by COVID-19. This extended period for temporary modifications contributed to the increase in the 61+ missed payment factor delinquency experience beginning in 2020.

2020 Q4

2020 Q3

2020 Q2

2020 Q1

2019

2018

2017

2016

2015

Number of Loans

Originated

2,916

1,558

418

6,048

28,711

31,070

24,699

28,062

26,489

Aggregate Original Principal Balance

$165,877,029

$84,033,256

$23,432,063

$384,888,170

$1,708,398,798

$1,835,541,501

$1,570,406,965

$1,878,845,324

$1,579,939,738

Weighted Average Term

12.0

10.9

11.9

19.6

15.1

11.8

12.5

15.8

12.6

Months since origination

1

0.00%

0.00%

0.00%

0.00%

0.00%

0.01%

0.00%

0.00%

0.00%

2

0.00%

0.05%

0.00%

0.01%

0.03%

0.04%

0.01%

0.01%

0.01%

3

0.15%

0.14%

1.14%

0.09%

0.07%

0.10%

0.03%

0.03%

0.04%

4

0.29%

1.18%

0.37%

0.23%

0.28%

0.28%

0.17%

0.15%

5

0.55%

1.27%

0.77%

0.83%

0.82%

1.05%

0.76%

0.67%

6

0.80%

1.73%

1.43%

1.71%

1.75%

1.97%

1.84%

1.31%

7

1.73%

2.09%

2.56%

2.76%

2.81%

3.00%

2.21%

8

1.77%

3.02%

3.56%

3.78%

3.57%

4.30%

3.14%

9

2.91%

4.19%

4.50%

4.64%

4.24%

5.32%

3.93%

10

5.17%

5.38%

5.39%

4.79%

6.19%

4.68%

11

5.80%

6.24%

5.84%

5.21%

6.78%

5.30%

12

6.33%

6.84%

6.26%

5.49%

7.31%

5.68%

13

7.37%

6.61%

5.72%

7.73%

6.02%

14

7.77%

6.89%

5.89%

8.07%

6.32%

15

8.19%

7.09%

6.05%

8.31%

6.50%

16

7.25%

6.13%

8.40%

6.65%

17

7.40%

6.20%

8.51%

6.70%

18

7.58%

6.26%

8.59%

6.78%

19

7.65%

6.30%

8.63%

6.85%

20

7.74%

6.31%

8.66%

6.90%

21

7.75%

6.31%

8.67%

6.92%

22

7.76%

6.29%

8.66%

6.94%

23

7.77%

6.29%

8.64%

6.94%

24

7.76%

6.28%

8.62%

6.94%

25

7.75%

6.28%

8.60%

6.93%

26

7.74%

6.24%

8.58%

6.92%

27

7.71%

6.23%

8.57%

6.91%

28

6.21%

8.55%

6.91%

29

6.19%

8.53%

6.90%

30

6.17%

8.52%

6.89%

⁵ 

The historical information above reflects net charge-offs for a specific subset of OnDeck’s daily, weekly and monthly 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 to which this Exhibit 99.1 is attached that were charged-off by OnDeck in accordance with its then-existing policies and procedures. 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.

As of 2/28/21

2020

2019

2018

2017

2016

2015

Average Number of Term Loans Outstanding

13,768

15,219

20,919

19,323

19,586

18,592

14,782

Average Aggregate Unpaid Principal Balance

$560,633,350

$632,010,624

$867,140,819

$834,386,331

$878,983,752

$892,433,152

$638,246,935

Net Charge-Offs

$10,066,075

$132,495,098

$129,489,502

$101,464,659

$158,709,557

$121,655,427

$77,411,096

Annualized Net Charge-Off Rate

10.77%

20.96%

14.93%

12.16%

18.06%

13.63%

12.13%

As of 2/28/21

2020

2019

2018

2017

2016

2015

Average Number of Lines of Credit Outstanding

15,905

16,093

15,878

13,701

12,209

9,397

4,506

Average Aggregate Unpaid Principal Balance

$195,541,710

$213,267,042

$224,695,351

$146,855,447

$112,688,509

$81,498,241

$34,495,817

Net Charge-Offs

$2,626,523

$32,635,423

$22,316,482

$12,268,925

$15,607,122

$9,638,190

$3,717,673

Annualized Net Charge-Off Rate

8.06%

15.30%

9.93%

8.35%

13.85%

11.83%

10.78%

⁷ 

The historical information in this table reflects net charge-offs for a specific subset of OnDeck’s daily, weekly and monthly 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 to which this Exhibit 99.1 is attached that were charged-off by OnDeck in accordance with its then-existing policies and procedures.

⁸ 

The historical information in this table reflects net charge-offs for a specific subset of OnDeck’s daily, weekly and monthly pay U.S. line of credit 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 to which this Exhibit 99.1 is attached that were charged-off by OnDeck in accordance with its then-existing policies and procedures.