Debt

The following table summarizes our outstanding debt as of September 30, 2016 and December 31, 2015 (in thousands):



Description	Type	Maturity Date	Weighted Average Interest Rate at September 30, 2016	September 30, 2016			December 31, 2015
Funding Debt:
ODAST II Agreement	Securitization Facility	May 2020 ⁽¹⁾	4.7%	$	250,000		$	—
ODART Agreement	Revolving	September 2017	3.2%	106,182			42,090
RAOD Agreement	Revolving	May 2017	3.5%	99,985			47,465
PORT Agreement	Revolving	June 2017	2.8%	67,313			59,415
ODAF Agreement	Revolving	August 2019 ⁽²⁾	7.8%	64,521			—
ODAC Agreement	Revolving	May 2017	9.8%	59,888			27,699
SBAF Agreement	Revolving	Various ⁽³⁾	6.5%	5,458			12,783
Partner Synthetic Participations	Term	Various ⁽⁴⁾	Various	3,575			6,861
ODAP Agreement	Revolving	August 2017 ⁽⁵⁾	5.0%	—			8,819
ODAST Agreement ⁽⁶⁾	Securitization Facility	May 2018	—%	—			174,980
				656,922			380,112
Deferred Debt Issuance Cost				(5,169		)	(4,222		)
Total Funding Debt				$	651,753		$	375,890

Corporate Debt:
Square 1 Agreement	Revolving	January 2017 ⁽⁷⁾	4.5%	$	12,700		$	2,700
Deferred Debt Issuance Cost				—			(5		)
Total Corporate Debt				$	12,700		$	2,695

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(1)	The period during which remaining cash flow can be used to purchase additional loans expires April 2018.


(2)	The period during which new borrowings may be made under this debt facility expires in August 2018.


(3)	Maturity dates range from October 2016 through August 2017.


(4)	Maturity dates range from October 2016 through June 2018.


(5)	The period during which new borrowings may be made under this debt facility expired in August 2016.


(6)	This debt facility was terminated in May 2016.


(7)	On October 11, 2016 the maturity date was extended to January 2017.

On April 28, 2016, we amended the ODAC Agreement to increase the revolving commitment from an aggregate amount of $50 million to $75 million, increase the interest rate from LIBOR plus 8.25% to LIBOR plus 9.25%, increase in the borrowing base advance rate from 70% to 75% and make certain other related changes.

On May 17, 2016, we, through a wholly-owned subsidiary, OnDeck Asset Securitization Trust II LLC, or the ODAST II, entered into a $250 million asset-backed securitization facility with Deutsche Bank Trust Company Americas, as indenture trustee. The notes under the facility were issued in two classes; Class A in the amount of $211.5 million and Class B in the amount of $38.5 million. The Class A and Class B notes bear interest at a fixed rate of 4.21% and 7.63%, respectively. Interest only payments began in June 2016 and are payable monthly through May 2018. Beginning June 2018, monthly payments will consist of both principal and interest with a final maturity of May 2020. Concurrent with the closing of the ODAST II securitization, we voluntarily prepaid in full $175 million of funding debt outstanding from our prior asset-backed securitization transaction, or the ODAST Agreement. The remaining unamortized deferred issuance costs related to the ODAST Agreement of $1.6 million were written-off and are included within Funding Costs on the unaudited condensed consolidated statement of operations for the nine months ended September 30, 2016.

On June 17, 2016, we, through a wholly-owned subsidiary, amended our existing asset-backed revolving debt facility, or the ODART Agreement, to reintroduce Class B revolving loans from the Class B Revolving Lender resulting in additional funding capacity of $12.4 million, thereby increasing the total revolving commitment from $150 million to $162.4 million, establishing a Class B interest rate equal to LIBOR plus 8%, a borrowing base advance rate for the Class B revolving loans of 92% and make certain other changes.

On August 19, 2016, we, through a wholly-owned subsidiary, entered into a $100 million asset-backed revolving debt facility, or the ODAF Agreement. The commitment bears interest at LIBOR plus 7.25%, has a borrowing base advance rate of up to 80% and matures in August 2019.