What is the difference between on deck capital and lending club?

[caracho]

what is the real difference between lending club and on deck capital? are they competitors of each other? i gather that on deck is business loans and lending club is business loans and personal loans. what are the odds that on deck will start doing consumer loans too? is that a likely possibility?

I get that they are both "disruptive tech" companies. also I have read a lot of criticism about on deck capital online and there high interest rates. that makes me afraid of them in the long term. do both companies charge similar rates?

[Carollbert]

Ondeck Capital and Lending Club offer online alternative to traditional bank lending, but the business models of the alternative lenders are substantially different, according to the analysts.According to the analysts, Ondeck Capital takes risk by using its balance sheet to originate loans.OnDeck Capital obtains funding primarily through debt facilities. Its funds also come from securitizations and OnDeck Market Place. On the other handing, Lending Club gets funding from individual or institutional investors.

[Laynecapital]

The major difference between the alternative lenders is the fact that OnDeck Capital is entirely focused on small businesses by providing term loans and lines of credit. Lending Club is mainly focused on consumer credit by helping individuals refinance their high-APR credit card debt or to finance major purchases.