The online lender’s Australian division will use a revolving credit facility from Credit Suisse to refinance its existing loan book at a lower cost, as well as to fund future loan originations, according to a company press release Wednesday. The Australian facility will enable OnDeck to tap the equivalent of up to $55 million in U.S. dollars.

https://www.americanbanker.com/news/ondeck-secures-new-funding-sources-for-canadian-australian-units