On Deck Capital, Inc. announced the general availability of OnDeck Marketplace, a platform that enables institutional investors to purchase small business loans originated by OnDeck and drive small business success. The general availability of OnDeck Marketplace comes after a one-year pilot program with a group of inaugural institutional investors, including asset managers, hedge funds and business development companies. To use the platform, each institutional investor opens its own OnDeck Marketplace account, purchases loans on a programmatic basis, and then receives daily principal and interest payments from the loans it owns.

OnDeck services the loans institutions purchase, making the process seamless, transparent and efficient. OnDeck Marketplace is a natural extension of the increased predictive power of OnDeck Score, and further diversifies the company's sources of revenue and capital. One of the key drivers for the OnDeck Marketplace platform is the company's proprietary OnDeck Score - a business credit score that leverages big data for small business customers rather than relying solely on the small business owner's personal credit history.

Loans in OnDeck Marketplace are graded A through F mostly based on their OnDeck Score, and these grades set the prices institutional investors pay for individual loans. These comprehensive metrics allow OnDeck and institutional investors to better evaluate risk when making small business loan decisions. Now that OnDeck Marketplace is generally available to institutional investors, the company expects the program to be an important part of its multiple funding sources strategy.