Item 1.01 Entry into a Material Definitive Agreement.

LAOD Facility Amendment

On September 2, 2020, Loan Assets of OnDeck, LLC ( "LAOD"), a wholly-owned subsidiary of On Deck Capital, Inc. (the "Company") amended (the "LAOD Amendment") its asset-backed revolving debt facility to further modify the Credit Agreement, dated as of April 13, 2018 (the "LAOD Agreement"), by and among LAOD, as Borrower, the Lenders party thereto from time to time, 20 Gates Management LLC, as Administrative Agent for the Class A Lenders, and Deutsche Bank Trust Company Americas, as Paying Agent and as Collateral Agent.

Pursuant to the LAOD Amendment, the end of the Amendment Period (as such term is defined in the LAOD Amendment) was extended from September 3, 2020 to October 23, 2020. As previously disclosed in connection with the amendment entered into on April 27, 2020, no Borrowing Base Deficiency shall be deemed to occur under the LAOD Facility during the Amendment Period. In addition, no portfolio performance tests in the LAOD Facility shall be tested until the first Interest Payment Date occurring following the Amendment Period. During the Amendment Period, the Lenders are not obligated to make any loans to LAOD, LAOD is restricted from purchasing receivables from the Company (other than certain subsequent line of credit advances) and any cash remaining in the LAOD Facility is not permitted to be distributed to the Company.

The foregoing description of the LAOD Amendment does not purport to be complete and is qualified in its entirety by reference to (i) the LAOD Amendment, which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the quarter ending September 30, 2020 and (ii) the LAOD Agreement, and prior amendments thereto, which were filed as Exhibits 10.27, 10.28 and 10.29 to Company's Annual Report on Form 10-K for the year ended December 31, 2019, Exhibit 10.1 to the Company's Quarterly Report on Form 10-Q for the quarter ending March 31, 2020 and Exhibit 10.3 to the Company's Quarterly Report on Form 10-Q for the quarter ending June 30, 2020.

Safe Harbor Statement.

This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other legal authority. Forward-looking statements can be identified by words such as "will," "enables," "targets," "expects," "intends," "may," "allows," "plans," "continues," "believes," "anticipates," "estimates" or similar expressions. Forward-looking statements are neither historical facts nor assurances of future performance. They are based only on our current beliefs, expectations and assumptions regarding the future of our business, anticipated events and trends, the economy, the COVID-19 pandemic and other future conditions. As such, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and in many cases outside our control. Therefore, you should not rely on any of these forward-looking statements.

Our expected results may not be achieved, and actual results may differ materially from our expectations. Important factors that could cause or contribute to such differences include risks relating to: cure deficiencies under our other debt facilities or obtain additional waivers or amendments to avoid the risk of default; and other risks, including those described in Part II - Item 1A. Risk Factors in our Form 10-Q for the quarter ended March 31, 2020 and June 30, 2020, Part I - Item 1A. Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2019 and other documents that we file with the Securities and Exchange Commission, or SEC, from time to time which are or will be available on the SEC website at www.sec.gov.

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