Financing ·
Enova subsidiary proposes $500M securitization of small business loans via fixed-rate notes
ENVAEnova International, Inc.
On November 3, 2026, Enova International announced that its indirect subsidiary, OnDeck Asset Securitization IV, LLC, intends to offer approximately $500.3 million in initial principal amount of Series 2026-2 Fixed Rate Asset-Backed Notes. The transaction involves four classes (A through D) with interest rates ranging from 5.81% to 8.57%. Proceeds will be used to purchase small business loans originated by OnDeck, which serve as collateral. Closing is anticipated around November 13, 2026, subject to customary conditions including ratings from Kroll Bond Rating Agency. Enova International operates in the consumer and small business lending industry.