tatneft ( russian : пао « татнефть » ; traded as : mcx : tatn , fwb : ttfb ) is a russian vertically integrated oil and gas company with headquarters in the city of almetyevsk , in the republic of tatarstan .

it is the sixth largest oil company in russia .

tatneft

tatneft ' : annual general meeting of the pjsc tatneft’s shareholders was h . .
pjsc tatneft ads ( repr 6 ord rub0 . 10 ) pjsc tatneft is part of the metals sector
the management structure of tatneft was optimized with establishment of gas ( tatneftegazpererabotka department ) as well as a petrochemical ( tatneft – neftekhim ) sections .
tatneft ' s victory in all - russia contest “1000 best companies of russia” .
moody ' s interfax confirms tatneft ' s urltoken and nknk ' s urltoken nsrs .
tatneft ' imeni v . d . shashina oao : taneco . ecology is under control
tatneft began cooperation with avtovaz in such areas as supply of tatneft petrochemical complex products to avtovaz , namely , synthetic motor oils and high - quality motor gasoline , as well as kama euro tires manufactured under european technologies by the nizhnekamsk tire factory controlled by tatneft .
pjsc tatneft share price . atad - stock quote , charts , trade history , share chat , financial terms glossary . pjsc tatneft ads ( repr 6 ord rub0 . 10 )
1994 - 1996 . tatneft got several awards of international financial institutes , funds and academies .
pjsc tatneft share price ( atad ) - buy pjsc tatneft shares ( atad . l , lon : atad ) - atad share price today - buy atad shares now - historical prices
tatneft halts oil production in syria after damascus blasts
ria novosti , 23 december 2011 .
tatneft diversifies into diamonds ,
nefte compass , june 29 , 2000 , p . 4 .
tatneft gets first contract to drill in iraq ,
oil daily , february 22 , 2001 .
2000 . the fiftieth anniversary of jsc tatneft foundation . the 2 , 700 , 000 , 000th ton of oil was produces from the fields of the republic of tatarstan . the tatneft youth organization was established .
bronstein , boris ,
tatneft ' otpravliaetsia v step ' ,
izvestiia , may 23 , 2000 .
tatneft eyes retail network expansion ,
nefte compass , november 18 , 1999 , p . 5 .
tatneft ' imeni v . d . shashina oao : taneco . ecology is under control | 4 - traders
a new board of directors was elected at the meeting , consisting of anvar vakhitov , director of tatneft - neftekhim management company , rinat nurutdinov , deputy head of finance department of pjsc tatneft , igor dolovatenko , executive , director of jsc nctu , rustam khisamov , corporate secretary of pjsc tatneft , marat nafikov , head of property department of tatneft - neftekhim management company , rafat kiyamov , head of operational planning office of the tatneft - neftekhim management company . the representative of the state is alexey savelchev , deputy minister of industry and trade .
jsc tatneft received compliance certificates with the requirements of iso 14001 : 2004 and ohsas 18001 : 1999 in august .
sapozhnikov , pyotr ,
tatneft ' stanovitcia semeynym predpriiatiem ,
kommersant - daily , july 1 , 1998 .
tatneft booted out of moscow refinery ,
nefte compass , may 24 , 2001 , p . 4 .
tatneft poised to finalise debt restructuring ,
nefte compass , september 23 , 1999 , p . 4 .
tatneft presses on with bond issue ,
nefte compass , march 8 , 2001 , p . 6 .
tatneft wriggles free of lending constraints ,
nefte compass , november 9 , 2000 , p . 5 .
in december 2011 tatneft suspended its work in syria due to two powerful bomb blasts in damascus . [ 1 ]
the event was attended by anvar vakhitov , director of ooo ' tatneft - neftekhim ' management company , rinat nurutdinov , deputy head of finance department of pjsc tatneft , and igor dolovatenko , executive director of jsc nctu . .
chugunov , andrei ,
tatneft ' khochet kupit ' nizhegorodskii neftianoy zavod ,
kommersant , january 21 , 1998 .
surgut , tatneft hail healthy 1999 results ,
nefte compass , april 27 , 2000 , p . 6 .
2001 . tatneft participated in the ivth international show of industrial property «archimedes» in moscow ( three golden and one silver medals ) . the 500 - millionth ton of oil was produced by ngdu
jalilneft
. tatneft was acknowledged as the best exporter of russia in 2000 . mountaineers from almetyevsk city hoisted tatneft flag on elbrus , the highest peak in europe .
notice of holding an annual general meeting of shareholders of the open joint stock company tatneft named after v . d . shashin
in 2016 , tatneft adopted the new environmental strategy of the company and the fourth environmental program for the period until 2020 .
moody ' s , an international credit rating agency , announced that it raised tatneft’s credit rating to baa3 with positive outlook .
tatneft ' s core facilities and operations are located in tatarstan , a republic of russia situated just north of the caspian sea . the name
tatneft
is a combination of the word
tatarstan
with the russian word for oil ,
neft .
this fusion in tatneft ' s name mirrors the real world situation , since close ties exist between the oil company and the local government . the republic of tatarstan holds one - third of tatneft ' s stock and relies on the company for about 30 percent of its yearly tax proceeds . the two entities have supported each other financially and politically since tatneft was privatized in 1994 .
gill , patrick ,
tatneft ' reports steady growth ,
russia journal , september 2 , 2000 , p . 16 .
tatneft is to get russia ' s biggest oil refinery ,
a & g information services , april 14 , 1999 .
tatneft to increase stake in cellular operator tatinkom - t ,
ipr strategic business information database , june 15 , 2000 .
when finally completed , the refinery complex’s products will be sold through tatneft’s network of petrol filling stations in russia , belarus and ukraine . the network currently has over 620 stations . therefore , tatneft has today successfully evolved from a raw feed plant into a strong ,
an annual general meeting of shareholders of oao “nizhnekamskshina” was held in nizhnekamsk ( tatarstan ) on june 8 , which was attended by rustam minnikhanov , president of the republic of tatarstan , shafagat takhautdinov , general director of oao tatneft , zagit sharafeev , deputy general director of oao tatneft for petrochemicals production – director of ooo “tatneft - neftekhim management company” and aydar metshin , head of nizhnekamsk municipal district .
- - - - - - ,
tatneft results up significantly on last year ,
russia journal , june 1 , 2001 .
glazov , andrei ,
tatneft to transform into holding company ,
nefte compass , june 28 , 2001 , p . 7 .
kashulinskii , maksim ,
tatneft ' zavershit k oseni programmu adr tret ' ego urovnia ,
segodnia , june 28 , 1997 .
tatneft’s glorious history from oil springs to high technologies — august 2010 , vol . 5 , no . 7 — the russia corporate world
notably , environmental protection is one of tatneft’s high - priority objectives . indeed , the company has been a pacesetter in terms of adoption of
according to the results of activity for the year 2017 , the enterprises of the tatneft’s retail sales unit demonstrated growth of the performance indicators .
in continued efforts to increase its focus on refining and marketing , tatneft acquired a controlling stake in the nizhnekamsk refinery , which had been a longtime buyer of tatneft oil . tatneft planned to upgrade the refinery to specialize in processing high - sulfur crude , of which tatneft produced large amounts . work on the complex proceeded at a brisk pace through 2000 , and the basic refinery complex was expected to be completed by the end of 2001 . resources were also pouring into the gas station expansion project , which was helped with the acquisition of a stake in the retailer mosnefteproduct .
greene , sam ,
tatarstan got $ 230 mln through tatneft loans ,
russia journal , september 13 , 1999 , p . 13 .
the barter system that tatneft had used to pay its taxes was widespread throughout the russian economy . a pressing problem for nearly all russian businesses was a lack of payment from domestic customers . most of tatneft ' s consumers lacked hard currency and preferred to pay in kind for oil . that situation pushed tatneft to look abroad for financial support in the form of hard currency . foreign banks , encouraged by a slight improvement in the russian economy , were happy to oblige . with negligible debt at the end of 1996 and 6 . 3 billion barrels of reserves , tatneft looked like a company that only required a little capital investment to bring its idle wells back into production . as a result , tatneft won $ 528 million in short - term loans from western banks . those banks overlooked more unsettling aspects of doing business with tatneft - - primarily the fact that the company was handing cash over to the government to help tatarstan pay its bills . the government got a total of $ 230 million from tatneft before the economic crisis in 1998 , most of which it later paid back in the form of deductions from tatneft ' s tax bill . but as long as tatneft ' s wells were pumping out hard currency profits , financial institutions put up with unorthodox business practices . at the end of 1997 , their faith seemed to be justified , as tatneft had a net income of $ 12 . 9 million on sales of $ 2 . 53 billion .
president shaimiev came through on his promises in january 1998 , when he signed an agreement with the president of nizhnii novgorod for tatneft to provide oil to the norsi refinery in that city . tatneft expressed a desire to gain a controlling stake in the refinery , perhaps in an alliance with its competitor lukoil . as of 2001 , tatneft owned 8 percent of oao norsi oil . the plans for increased presence on the international stock market also moved ahead . on march 30 , 1998 , tatneft debuted on the new york stock exchange . by that summer , foreigners owned 22 . 5 percent of the company , while tatarstan had 30 . 3 percent , russian investors 16 . 8 percent , and tatneft employees 30 . 3 percent .
preferred shares of jsc tatneft were included into the listing of ' a2 ' category of the rts trading system . international rating agency fitch raised the rating of tatneft liabilities from ' b - ' to ' b ' . the standard & poor ' s agency raised the credit rating of the company .
international success occurred against the backdrop of tax confusion and payment problems on the domestic front . the federal government accused tatneft of owing ru 407 billion in back taxes . tatneft countered that it had paid taxes in the form of fuel given to agricultural concerns , an in - kind exchange that the government had agreed to count against taxes owed . when fuel contributions were considered , tatneft owed only ru 42 billion , less than many other russian businesses .
s & p assigns b + rating to tatneft finance ' s eurobond issue ; outlook stable ,
pr newswire , september 26 , 1997 .
tatneft has purchased the 78 % state - held stake in tatinkom - t ,
ipr strategic business information database , february 23 , 2000 .
tsypin , vladimir ,
kompaniia ' tatneft ' mozhet ne pogasit ' v srok kupon po evroobligatsiiam ,
finansovye izvestiia , april 20 , 1999 .
compliance with the environmental legislation at the facilities of oao tatneft is ensured by the production and environmental control system ( pec ) and environmental analytical control .
signing this document , tatneft company has committed to implement environmental measures at its own expense and to report on their implementation to rosprirodnadzor on a quarterly basis .
oreanda - news . tatneft
nature is alive and i am alive
among the children aged 4 to 16 years living in the republic of tatarstan .
rinat sabirov , assistant to the president of the republic of tatarstan , was appointed a member of the board of directors based on the “golden share” right owned by the government of the republic of tatarstan . the following persons were elected as the board of directors members : timur akulov , assistant to the president of the rt , shafagat takhautdinov , general director of oao tatneft , nail maganov , first deputy general director of oao tatneft , victor gorodny and vladimir lavushchenko , deputies of general director of oao tatneft , iskandar garifullin , chief accountant of oao tatneft , zagit sharafeev , director of “tatneft - neftekhim” management company , zakir fairuzov , first deputy of the above - mentioned , radiy burganov , executive director of “nizhnekamskshina” and ilgizar yakushev , deputy general director of oao ” tatneftekhiminvest – holding “ .
2007 . production of bituminous oil from the ashalchinskoye natural bitumen field with the application of sagd technology by tatneft company exceeded 1000 tons in the first days of 2007 .
the company has won many awards . tatneft became a winner of the vith all - russia contest
russian organization of high social efficiency
in nomination
wages and welfare payments
. it was for the forth time that tatneft company was awarded the title
best enterprise on invention and rationalization in the republic of tatarstan
in 2006 .
principles of the pjsc tatneft’s information policy : equal access , equal rights , timeliness and reliability for all the shareholders , investors and other concerned parties , observance of confidentiality .
tatneft company adheres in its activities to precautionary principle 15 of the un declaration on environment and development , adopted in rio de janeiro on june 3 - 4 , 1992 .
this year the winners and runners - up were presented the gifts from tatneft and the environmental fund named after v . i . vernadsky , which the company cooperates with .
tatneft management has set the following mission : to become an internationally recognized oil company ensuring maximization of the company ' s value on the basis of : strengthening , growing and effectively using the existing potential of tatneft ' s reserve base through an active capital investment program which , in the long - run , will reap financial benefits far exceeding the cost of raising capital ; maintaining an industry leading position in profitability , technology and environmental protection ; and in the long - term broadening and diversifying tatneft ' s resource base .
a month before tatarstan joined the russian federation , tatneft was privatized . several state oil - related enterprises were combined with the old tatneft production association to form a joint stock company , ao tatneft . the new company hoped to solidify its national and international standing by stabilizing oil production with new technologies and extending its geographical reach . the dresdner bank was quick to recognize the new corporation , providing it with a $ 60 million line of credit secured by oil exports . tatneft hoped to attract more investors by bringing its financial affairs into line with international standards . the firm hired zao pricewaterhousecoopers as its auditor and brought in u . s . consultants miller & lents ltd . to audit its oil reserves .
december 1996 – march 1998 . jsc tatneft became a pioneer among the russian oil companies russia in the introduction of its shares into the world markets of long - term capital .
year 2006 . ngdu aznakaevskneft acquired a new leader - razif galimov . ooo tatneft - energoservis celebrated its 15th anniversary . ngdu almetyevneft introduced the technology of co - mingled injection .
drillers of tatneft drilled a unique u - shaped horizontal through well exiting to the surface at ashalchinskoe bituminous field with application of a conventional drilling rig bu - 75 in may .
tatneft and lukoil were recognized as the best socially - oriented companies in the oil and gas industry in russia and awarded special prizes of the russian federation ministry of energy contest .
tatneft ' s first move into the international arena came in 1989 . that year the association signed a letter of intent to form tatex , a joint venture with global natural resources inc . of houston and core resources inc . of san antonio , texas . the 50 - 50 venture was owned by tatneft and by the american firms , who collaborated under the name texneft . the goal of the partnership was to recover oil that was being lost through evaporation from tatneft ' s holding tanks . global and core contributed approximately $ 3 . 2 million to install 55 vapor recovery units . tatneft expended a corresponding amount in labor and operation of the units . the vapor recovery project had several advantages . first , it would give tatneft the opportunity to sell its product on the world market and bring in hard currency . secondly , the vapor recovery units would reduce emissions of hydrogen sulfide and other contaminants .
they started pilot operation of an early detection system for deviations ( anomalies ) in the technological process of the cdu / vdu - 7 unit operation at the tatneft’s taneco refinery complex .
by the beginning of 2000 , tatneft ' s debt still stood at $ 846 million . as negotiations with banks continued , the firm took advantage of several business opportunities . tatneft diversified outside the oil sector with the purchase of a 78 percent stake in tatinkom - t , a major telecommunications company in tatarstan . later in the year tatneft acquired controlling stakes in a tire producing plant in nizhnekamsk and set up a joint venture to search for diamonds in the northern arkhangelsk region . most of the acquisitions were made on the basis of share transfers .
the shares of pjsc tatneft have been traded in the russian and international stock markets for over 20 years and they are among the most liquid and representative instruments of the securities market .
gazprom neft , tatneft and zarubezhneft have concluded a memorandum of cooperation on the development of the skills and competencies needed for the development of exceptionally challenging projects in opening up carbonate deposits .
projects of tatneft company and the taneco oil refining and petrochemical plants complex were named winners of the xiiith republican contest
50 best innovative ideas for the republic of tatarstan
for 2017 .
during the visit to nizhnekamsk the delegation headed by rustam minnikhanov visited ooo “nizhnekamsk ssc tire factory” and social facilities of the oao tatneft’s tire manufacturing complex companies . those facilities include the children’s health improvement camp “chayka” , in which reconstruction and major repairs tatneft invested 210 million rubles in 2008 – 2011 years . reconstruction works were carried out in the camp’s dining room , 6 dormitories and assembly hall . 1 , 360 children rest at the camp every year . the camp’s facilities are used as a recreation center for families of oao tatneft’s petrochemical complex enterprises employees in autumn and winter .
the end of the xx century . jsc tatneft was forming as a vertically integrated holding company . it bought considerable blocks of shares of petrochemical enterprises of tatarstan . the nizhnekamsk refinery and a network of filling petrol stations were constructed quickly . tatneft came out into oil markets of several countries , showing its technical and technological power , and used opportunities to increase its reserves and production enhancement activity .
in general , environmental management in pjsc tatneft is implemented under environmental programs . in place of the previously adopted programs
ecology 1990 - 1995
,
environmental safety in crude oil production in the south - eastern part of the republic of tatarstan , 1995 - 2000
and
ecology program of pjsc tatneft for the period of 2000 - 2015
the company developed and approved in 2016 the fourth environmental program until 2020 designed to maintain the state of the environment in the region of pjsc tatneft activities at the regulatory acceptable level consistent with the self - healing potential of natural ecosystems .
nail ulfatovich maganov born in almetyevsk : july 28 , 1958 . he graduated from the moscow institute of petrochemical and gas industry n . a . i . m . gubkin ( now : rsu ng n . a . gubkin i . m . gubkin ) in 1983 ) specializing in
technology and complex mechanization of oil and gas fields development
. 1976 - 1981 : well testing operator at ngdu
elkhovneft
of
tatneft
production association . 1981 - 1991 : process engineer , crude oil and gas production foremen , senior engineer - deputy production shop superintendent , production shop no . 5 superintendent of ngdu
elkhovneft
of
tatneft
production association in 1991 - 1993 : deputy head of capital construction , ngdu
zainskneft
of
tatneft
production association 1993 - 1994 : head of crude oil and petroleum products sales department of jsc tatneft 1994 - 1998 : deputy general director for production of jsc tatneft 1998 - 2000 : head of crude oil and petroleum products sales department - deputy general director of jsc tatneft 2000 - 2004 : first deputy general director of jsc tatneft - head of crude oil and petroleum products sales department 2004 - 2013 : first deputy general director of jsc tatneft - head of crude oil and petroleum products sales department . from november 2013 : general director of jsc tatneft . excellence in the oil industry of the ussr ministry of oil industry . honorary oilman of the ministry of fuel and energy of the soviet union . honored oilman of the fuel and energy ministry of the russian federation . honored oilman of the republic of tatarstan . honorary worker of the fuel and energy complex of the ministry of energy of the russian federation . awards : order of friendship , order of merit for the republic of tatarstan , a number of medals .
although tatneft was losing cash to the government , the company also benefited from a relationship of mutual assistance . tatarstan president mintimir shaimiev attended the june 1997 annual meeting and made several recommendations . he offered government support for helping tatneft become more vertically integrated , as the company still had no refining capacity . he also suggested that the company make moves to place its shares directly on american stock exchanges .
today , tatneft is operating in 22 administrative districts in tatarstan . the fact that the overall welfare and social status of the population in the south - eastern part of the republic depend mainly on tatneft has puts special responsibility on the company and its management . indeed , as a socially responsible and oriented company , tatneft makes huge contribution to finding positive solutions to social problems and development requirements of the region . this is evident in the fact that hundreds of millions of rubles are annually invested into the construction , reconstruction , maintenance and other repair works for dozens of social facilities in the region .
jsc ' nizhnekamsktehuglerod ' , part of the tatneft company ' s petrochemical complex , held an annual general meeting of shareholders , during which the annual report and annual financial statements for 2016 were approved .
the implementation of these and other planned activities will allow minimizing the impact on the nature of man - made factors and improving the state of the environment in the territory of the activities of tatneft .
a new company was established in tatarstan : tatneft , nizhnekamskneftekhim , svyazinvestneftekhim and the south korean lg company established oao tatar - korean petrochemical company ( tknk ) . extensive activities were launched in the social sphere . oao aznakay kiemnere branch was open in shugurovo to address the problems of unemployment . gifted children foundation was established in march . tatneft started operation of the european standard ski mountaineering base in december .
the general director of jsc tatneft shafagat tahautdinov became a winner of the premium «golden rosing - 2006» , awarded annually for outstanding service in the development of the russian oil and gas industry . in march «tatneft» became a laureate of the all - russia contest «100 best organizations of russia . ecology and ecological management » , and it was awarded a diploma and a golden medal of
european quality
.
in 2001 tatneft continued to seek opportunities to develop oil fields beyond its borders . the firm gained permission to drill approximately 80 wells in iraq under the united nations oil - for - food program . the government of sudan was also looking for a firm to develop its oil fields , since the companies currently active in the country had come under pressure from human rights activists concerned that the government was using oil revenues to fight rebels in the south . since tatneft appeared to be less vulnerable to protesters , the company signed an initial memorandum of cooperation with sudan . finally , tatneft also initiated talks with iran about the possibility of conducting seismological surveys there and installing well - reinforcing equipment . tatneft appeared to have regained solid footing after the 1998 crisis , and was actively expanding into new sectors and geographic territory .
“today , tatneft has successfully evolved from a raw feed plant into a strong , vertically - integrated holding that now includes subsidiaries specializing in different activities , from oil production to petrol filling stations business . ”
tatneft became the first russian oil company to begin geological exploration and production in syria after winning a tender and concluding a production sharing agreements ( psa ) with the syrian government in 2003 . [ 1 ]
in conclusion , i would like to say the tatneft’s ecological activities wouldn’t have received such wide recognition without the media and wide - ranging coverage . the company and the press office are permanent winners of environmental contests
ecoleader
,
ecomir
, etc . only in 2015 tatneft won prizes in two major projects of the non - governmental vernadsky ecological foundation . as a result of the all - russian ecological subbotnik
green spring - 2015
, tatneft received the award
for the special contribution to the improvement of the environment and environmental education” and the corporate project of tatneft , a series of animated cartoons
adventures of neftyasha and her friends” , won the international contest
ecological culture . peace and harmony
. there is no doubt that implementation of the tatneft’s large - scale environmental initiatives and comprehensive coverage of the eco - friendly nature of the company ' s activities , as well as the company’s information transparency have become an effective basis for creating a successful dialogue between the company and the public .
to ensure the environmental safety of crude oil production there is a set of technical , technological and organizational measures being implemented at jsc tatneft to provide for stable and reliable operation of the oil field facilities .
tatneft ' pao is a subsurface user , operator and supplier of oil and gas resources , and manufacturer of petrochemical products . the company operates through three segments : exploration and production ; refining and marketing , a
1998 . 50 years since the beginning of romashkinskoye field development . by the decision of jsc tatneft board of directors the construction of nizhnekamsk refinery was considered to be a strategic line of activity of the company .
according to iso 14001 : 2004 standard , under which the environmental management system of pjsc tatneft has been certified for compliance , the company has used the methodology of the
consistent procedures
, in which follow - up actions are formed on the basis of the data obtained from the results of the previous level procedure . the following procedures sequence has been established in pjsc tatneft in the process of the environmental management :
on monday , tatneft ' pao ( tatn : mcx ) closed at 689 . 95 , - 1 . 08 % below its 52 - week high of 697 . 50 , set on may 21 , 2018 .
azat ferdinandovich yagafarov , moscow office director address : build . 1 , 17 , tverskoy boulevard , moscow 103104 , russia phone : + 7 ( 495 ) 937 - 55 - 78 e - mail : tatneft @ urltoken
tatneft and syria ' s general petroleum company ( gpc ) established a joint venture ( jv ) named al bu kamal petroleum company , which began oil production at the south kishma field in spring 2010 . [ 1 ]
as of may 8 , 2015 , there were over 45 thousand shareholders registered in the register of the pjsc tatneft’s shareholders . inter alia , there were the following largest owners ( nominal holders ) of the company’s shares :
tatneft pjsc engages in the exploration , development , and production of crude oil . the company ' s activities include refining and marketing of crude oil , and refined products , as well as production and marketing of petrochemicals .
year 2005 . tatneft is in the first dozen of 50 leading companies russia . the 2005 russia 50 rating was arranged based on the standards of the famous fortune 500 list and it was published for the first time in the «big business» magazine . tatneft was named the «best company in the area of invention , rationalization and patent / licensing» by the results of the annual contest for the arrangement of inventive , rationalization and patent / licensing activity .
rinat k . sabirov assistant to president of the republic of tatarstan , member of the board of directors , non - executive director vladlen a . voskoboynikov member of the management board , head of consolidated financial reporting department of pjsc tatneft yevgeny a . tikhturov member of the management board , head of the financial department of pjsc tatneft vasiliy a . mozgovoy assistant to general director of pjsc tatneft , corporate finances nuriya z . valeyeva , head of the technical and economic information and advanced experience extension office , pjsc tatneft main activity areas of the information disclosure committee in 2015 1 . ensuring control of the information disclosure procedures . 2 . coordination of the activities on formulation of essential facts , quarterly and annual reports of the company , as well as consolidated financial statements and ras reports . 3 . coordination of the work for information support of the current company ' s activities . 4 . control and coordination of the corporate mass media activity on development of web - resources of the tatneft group . 5 . ensuring a unified information policy of the tatneft group . the committee carries out its activities in close cooperation with the committees of the board of directors : audit committee , corporate management committee , hr and remuneration committee and the company ' s executive bodies : management board , executive directorate and other structural divisions and services of the joint stock company .
control of the atmospheric air of the settlements located in the area of jsc tatneft activities is carried out in accordance with the approved schedule . 5 , 685 air sample analyses were performed during the first half of the year .
environmental solutions used by tatneft company for implementing the taneco crude oil refining and petrochemical complex project meet all modern requirements . obtaining rapid and reliable results is contributed by modern laboratory equipment and application of a mobile environment control station .
tatneft succeeded in stabilizing its oil production in 1995 . production had been declining throughout the early 1990s because of a downturn in demand for crude oil in russia and insufficient capital investment . the achievement of stable production mid - decade was due in part to a more favorable tax regime . tatarstan granted tatneft special status in 1995 that included lower than usual excise taxes and tax exemptions on low - productivity wells . production also improved due to tatneft ' s well rehabilitation program , better recovery techniques , and the opportunity to bring non - operational wells into production . as a result , production reached 170 million barrels in 1995 , a level that would remain fairly constant into the next millennium .
in 1994 , tatneft went public , thus becoming the first russian oil major to enter the global stock markets with securities that won it worldwide recognition . historically , tatneft was for a long time the only local major oil company that specialized exclusively in oil production in russia . to rectify this situation , tatneft’s management decided to create its own network of petrol filling stations in russia and ukraine . later , another strategic decision was taken to merge the company , nizhnekamskshina and nizhnekamsky technical carbon plant into a single entity . the first significant project involving taftneft in its new capacity was the production of highly - efficient kama - euro - branded radial car tires manufactured under an official license from pirelli .
water bodies’ observation system of oao tatneft consists of 1 , 276 sampling points . this includes observation points for the surface waters sources ( springs , rivers , reservoirs ) and the underground ( artesian wells , wells ) water bodies .
oao tatneft produces approximately 8 percent of all oil extracted in russia , with an annual production of approximately 170 million barrels . the company ranks fourth in russia in volume of extracted oil and holds the 30th place worldwide for oil production . most of the company ' s operations focus on oil exploration and production . however , tatneft also holds stakes in oil refinement and retail concerns , as well as in businesses outside the oil industry . those holdings include a telecommunications company , a tire production plant , and a diamond exploration company . in addition , tatneft holds significant stakes in a number of financial services companies , such as the moscow - based zenit bank and the russian broker - dealer ao solid .
enterprises of the tatneft croup of companies produced 21 , 664 . 9 thousand tonnes of crude during nine , which was 555 thousand tonnes more than the figure for the similar period of the previous year ( 102 . 6 percent ) .
the ordinary and preferred shares participate in the first level quotation list of pjsc moscow stock exchange . the jsc tatneft’s shares are included in the index calculation base of rts and micex , which are the main indicators of the russian stock market .
the idea of the multilateral wells drilling has been implemented . the wellbores in well no . 8249 branch horizontally by the azimuth as well as by the productive layers of the pay thickness providing for improved coverage of productive horizons . ooo tatneft - burenye ( drilling ) drilled on its own for the first well with application of the underbalanced drilling technology . the same year tatneft drilled the first wildcat in orenburg district . ngdu dzhalilneft completed drilling of downhole branched splitters in deposit no . 12 . a new department for geological exploration and development of hydrocarbons in the new territories was established . zao nizhnekamsk refinery was established . tatneft and sibneft won the battle : controlling stake in the moscow oil refinery was transferred to the alliance the two companies .
yuriy grigorievich alayev , director address : 5 , ob’ezdnaya str . , almetyevsk 423450 , republic of tatarstan , russian federation phone : + 7 ( 8555 ) 31 - 87 - 45 e - mail : tatneft - energosbyt @ urltoken website : urltoken
1995 . tatneft stabilized its level of oil production . it was the first time since 1966 when the increase of oil reserves exceeded annual output in the republic . kichuy refinery of estimated power 400 , 000 tons of oil per year was constructed .
тhe viith all - russian scientific and practical conference
geoinformatics in the oil and gas industry was held at the premises of tatnipineft research and design institute in november . the ivth conference of the young workers of jsc tatneft was held in december .
powers of the sole executive body have been transferred to ooo
tatneft - abdulino
management company address : 27b , potehin str . , orenburg 460001 , russia phone / fax : + 7 ( 3532 ) 72 - 72 - 03 website : urltoken
end of the xx century . jsc tatneft is formed as a vertically integrated holding company . the company acquired major stakes in petrochemical enterprises of tatarstan . good progress was demonstrated in the construction of the nizhnekamsk refinery and development of the filling stations chain .
the 1950s and 1960s were marked by the acquisition of several smaller oil fields . tatneft gradually became one of the country ' s leaders in oil production . one of the most rapid periods of growth occurred between 1955 and 1959 , when development at tatneft accounted for half of the oil production growth called for in the sixth five year plan . the association worked to implement leading technology into the 1960s . reserves at many smaller fields were depleted during that time , but production from the major fields continued to grow . in 1970 , 783 million barrels of oil were produced , the highest yearly figure yet for the u . s . s . r . the mid - 1970s , with average yearly production of over 700 million barrels , marked the peak of tatneft ' s production . by 1981 , a total of two billion tons ( 14 . 2 billion barrels ) of oil had been extracted in tatarstan . as tatneft ' s main fields matured , production declined from the 1980s into the mid - 1990s .
currently , the company is drilling for oil on a total number of 82 licensed fields , while 13 different oil companies incorporated with tatneft’s capital are presently actively involved in geological exploration operations for energy resources in the orenburg , ulyanovsk , samara , nenets autonomous district regions and kalmykia . besides , tatneft is currently operating oil deposits abroad , notably in syria and libya . the company is also actively searching for alternative sources , such as the superviscous , bitumen oil , whose gross reserve in tatarstan is estimated at over 7bln tons , for boosting its output and replenishment of oil reserves . tatneft has devised new technologies for developing these potentially lucrative raw materials for russia and has been performing pilot project works with the aid of these technologies on its production sites since 2006 .
year 2004 . the year of awards . six awards were presented to the specialists of tatneft at the
engineer of the year
contest . the ministry of youth and sports of the republic of tatarstan and the administration of kazan awarded tatneft with diploma
for contributions into the development of domestic tourism
based on the results of the
tourism . recreation . sports - 2004
exhibition .
neftyanik tatarstana ( oilman of tatarstan ) newspaper won the prestigious all - russian journalists ' contest of
pe - gas - 2003
, and it was acknowledged as the best regional corporate newspaper at the all - russian forum of the corporate media . following the decision of the supreme council of the «russian brand» the golden sign of quality was awarded to the network of gas filling stations operated by zao tatneft - moscow . in august tatneft was awarded a diploma of the
best exporter of the republic of tatarstan
, as well as the 1st place diploma for the best arrangement of invention , rationalization and patent / licensing activity among industrial enterprises .
over the past year tire factories of oao tatneft’s petrochemical complex produced 11 million 13 thousand pieces , including 9 million 856 thousand tires produced by “nizhnekamskshina” , 969 thousand tires produced by the truck tires factory and 188 thousand tires yielded by the solid steel cord tires factory .
the 30th anniversary of jsc nizhnekamskshina , the largest enterprise of ooo tatneft - neftekhim . nizhnekamskshina was acknowledged to be the most dynamically developing exporter in russia in 2002 . five models of jsc nizhnekamskshina were awarded golden , silver and bronze medals at the vith international specialized exhibition .
1950 . following the council of ministers of the ussr decree
tatneft
association was organized uniting the trusts “bavlyneft
,
bugulmaneft
,
tatburneft
,
tatneftepromstroy
design office
tatnefteproekt
. production of the first million tons of oil in tatarstan .
among the clients of company – leading enterprises of russia such as : «lukoil» , «gasprom - neft» , «surgutneftegas» , «tatneft» , «tnk - bp» , «rosneft» , «gasprom» , «severstal» , «novolipetsky» mc , «magnitogorsky» mc , «avtovaz» , as well as many other russian and international companies .
within the framework of the year of ecology and the year of specially protected natural territories in the russian federation , pjsc tatneft and the environmental fund named after v . i . vernadsky approved the plan of joint activities for 2017 , according to which they participate in joint actions
the history of oil in tatarstan begins in 1943 , when the bavlinskoye oil field became the first of a series of major oil discoveries in the republic . five years later the romashkino field , tatarstan ' s largest , was discovered . as the soviet union recovered from world war ii , the government began taking steps to exploit its oil resources . the
tatarneft
trust was established in 1949 for the development of the bavlinskoye field . in april of the following year the soviet administration adopted a decree calling for the formation of the tatneft production association and giving it the right to develop the romashkino oil field . later tatneft obtained the right to develop the republic ' s second largest field , novo - yelkhovskoye . the two fields would be the source of most of the crude produced by tatneft throughout the ensuing decades .
meanwhile , the soviet union had ceased to exist . as russia emerged from the ruins of the soviet union , tatarstan was negotiating its degree of cooperation with the new federal government . against a backdrop of political uncertainty , tatneft took several steps to augment its role in the international oil industry . the association formed a special unit to develop ties with foreign oil and oil services companies . tatneft also obtained the right to directly set up trade , economic , and technical agreements with foreign firms , and to export oil if the foreign currency proceeds were used for the realization of social programs .
despite these confident business advances , conditions in the russian economy did not bode well for tatneft . stocks had been falling since the beginning of 1998 and the price of crude was low . in august 1998 the economy collapsed as the russian ruble experienced a 245 percent devaluation . the downturn was especially disastrous for tatneft , since most of its loans were denominated in foreign currency . to make matters worse , the company lost money through treasury bills on which the russian government had defaulted . dealing with the enormous foreign debt burden would be the central problem of the next few years . tatneft barely managed to pay a half - yearly coupon on its $ 300 million eurobond , finally scraping together the required amount several weeks after the october due date . year - end results for 1998 were understandably poor . the company lost $ 732 million on revenues which were half of the previous year .
may 2000 brought tatneft ' s first joint venture outside tatarstan . zao kalmtatneft was formed in a partnership with the caspian - area oil producer kalmneft . the project would develop fields in kalmykia , a southern republic on the northwest shore of the caspian sea . because tatneft ' s own wells were low - producing , the firm was happy to find a way to use some of its recently hired staff and newly acquired equipment . other expansion included the opening of an office in the mongolian capital of ulan bator , to take part in prospecting and geological exploration in the south of the country .
the history of tatneft joint stock company goes all the way back to the 1950s and describes the road from the discovery of romashkinskoye oil field and establishment of a crude oil production trust to the creation and development of a russia ' s major vertically integrated crude oil company . of course , tatneft has had to undergo constant adjustments in the fast changing world , and today the company is radically different from the tatneft that existed five years ago . the modern tatneft is not just a production company , it is a dynamically developing crude oil , gas and chemical holding . now , we can proudly say that a high professionalism , the ability to mobilize and an excellent ability to work and maintain discipline have always been and will be the major things on the way of company development . we have managed to achieve crude oil production stabilization and ensure conditions necessary for a further growth thereof . as of today , tatneft joint stock company operates in a stable manner under the market economy conditions , producing over 24 mmta . company ' s share of the russian market is over 8 % . with the view of ensuring company transparency for potential investors and partners , pricewaterhousecoopers has audited tatneft ' s us gaap financial reporting since 1997 . miller & lents evaluates company ' s crude oil and gas reserves in accordance with international standards . tatneft has become a base for numerous crude oil and gas processing and chemical enterprises of the republic of tatarstan . given the existing situation , the company is currently restructuring , integrating and diversifying its activity , and establishing a vertically integrated business scheme for the rt crude oil , gas and chemical complex under the auspices of tatneft . tatneft owns 63 % of the shares of the refinery under construction in nizhnekamsk . this refinery will become the world ' s fourth and russia ' s major heavy oil processing facility that will completely resolve the process issue of obtaining light crude oil products of european quality having a 82 - 84 % processing depth from high sulfur crude oil . the first refinery line will provide the first products , low sulfur diesel fuel , jet fuel and construction bitumens , in late 2001 . the company places a great emphasis on the development of an oil product retail sales network . the number of our own gas stations increased from 95 to 308 in 2000 . we plan to commission another 130 gas stations in 2001 . we are currently facing complex and wide scale tasks . the implementation of corporate plans will require major effort and dedication on the part of our company ' s personnel . we have no doubt that we are currently building a solid foundation for a stable future business and we are certain of a successful implementation of all our strategic tasks .
jsc tatneft gets into contacts with officials of the oil companies of iran , iraq , vietnam , mongolia , jordan , china , egypt , and italy . the kalmtatneft joint venture was founded in kalmykia for exploration and development of oil fields . the volumes of exploration and production drilling increased almost twofold .
in spite of the bleak situation , there were some reasons for optimism in 1999 . tatneft made its biggest profit in five years , earning $ 311 million on revenues of $ 1 . 83 billion . production was in line with previous years . the company also embarked on a project to expand its retail network from 80 gas stations at the time to 500 stations by 2005 . they would be located near the facilities that refined tatneft ' s gas , in moscow , st . petersburg , the middle volga , and the ukraine . the project was part of a trend toward increased vertical integration .
the procedure for disclosing information in pjsc tatneft is provided in accordance with the applicable law and requirements of the stock market and regulated by the provision on information policy and the provision on the use of insider information and the procedure for informing of the transactions with securities approved by the board of directors .
these changes soon had concrete results . an exploration and development joint venture was set up with manx petroleum of london . manx agreed to provide management , financing , and marketing for exploration in a 7 , 000 - square - kilometer area in northeast tatarstan , while tatneft would provide oil rights , manpower , and export services . in another overseas deal , the american tatex venture took on the job of drilling or refurbishing 50 wells in the onbysk field . a third international partnership in 1993 involved the swiss firm panoco s . a . tatneft and panoco agreed on a 50 / 50 joint venture to drill several thousand wells over the course of the next decade in eight tatarstan oil fields . the project would provide access to about 2 . 6 billion barrels of untapped reserves . although production from the joint ventures accounted for only a small part of tatneft ' s operations , the partnerships were useful in contributing new technologies and efficient techniques .
tatneft company has signed a quadripartite cooperation agreement with the ministry of natural resources and ecology of the russian federation , the federal supervisory natural resources management service and the government of the republic of tatarstan . the parties have also signed a list of environmental measures planned for the year of ecology in the russian federation in 2017 .
the ‘gifted children’ special foundation , set up with the help of tatneft , provides huge financial support for talented children , which is a significant contribution to the official efforts aimed at upbringing of highly literate future generations . another tatneft - funded organization , the ruhiyat spiritual revival foundation , also carries out comprehensive charity activities in arts and literature . besides , tatneft also provides enormous funds for the construction and reconstruction of mosques and churches in south - eastern tatarstan . the company has also distinguished itself in terms of bankrolling development of sports in general , and ice hockey in particular , in the republic . for instance , the ak bars hockey team , sponsored by the oil giant , has successively won the russian national hockey championship titles back - to - back in recent years . besides , the company is currently executing a long - term popular sports development program aimed at building additional new sports facilities in the republic that can be used for various sporting activities by thousands of children .


ondeck capital is a non-bank small business lender based in new york city , with locations in denver , colorado , and arlington , virginia .

ondeck uses proprietary technology and credit models to evaluate the financial health of small businesses .

as of april 2016 , ondeck has funded over $ 4 billion to more than 40,000 small business customers in the us , australia , and canada and is publicly traded on the new york stock exchange ticker symbol : nyse : ondk .

ondeck capital seeks to extend loans and lines of credit to new small business customers by building strategic partnerships with larger established banks such as jp morgan chase and others .

ondeck capital

ondk stock price & news - on deck capital inc . - wall street journal
goldman has the lending capital part of the equation in hand , and has recognised that the online “platform” represents the most efficient method of distributing that capital to borrowers .
keep your business running smoothly . manage your working capital needs , both planned and unplanned .
on deck capital , inc . ( ondk ) dividend date & amp ; history - urltoken
loans subject to lender approval . on deck capital australia pty ltd abn 28 603753215 . ondeck® is a registered trademark . all rights reserved . please read our : privacy policy , privacy statement and website terms of use . ondeck group refers to on deck capital , inc . and its subsidiaries .
for the second time in two weeks , an alternative lending company has gone public . new york city - based ondeck capital rose in its debut earlier wednesday on the the new york stock exchange . ondeck capital ' s shares opened at $ 26 . 50 , and touched a high of around $ 28 .
as of december 2017 , ondeck capital is valued at $ 411 million , which is an increase since may of 2017 when we noted it was $ 324 million .
other startups in the space include capital access network and kabbage , and even amazon is getting into the game .
if you currently process a large number of your customer payments through square then you could qualify for up to $ 100k in financing through square capital . this is a niche based financing option but could be a good capital source for square users looking for a ondeck and kabbage competitor .
small business credit cards aren’t typically considered a kabbage or ondeck competitor , but they can be a good alternative solution if you need a small amount of capital . in fact , small business credit cards are great to have in any business’s financial toolkit regardless of what other capital you have .
ondeck capital caters specifically to small businesses , and does not allow peer - to - peer investments . instead it partners with distributors , from financial institutions to independent sales groups , to connect businesses to capital . since its launch in 2007 , ondeck has deployed more than $ 1 . 7 billion in small business loans to 25 , 000 businesses in more than 700 industries .
the forecasted range of $ 16 to $ 18 . based on late tuesday ' s pricing , ondeck capital raised about $ 200 million from its ipo , valuing the firm at about $ 1 . 32 billion .
ondeck capital reported a quarterly loss of $ 12 . 6 million as revenues fell short of expectations . at the same time , the new york firm sharply reduced its earnings projection for the rest of the year .
like square , paypal also has a capital wing of their business that focuses on lending money to merchants who process payments through paypal . they also offer their merchants up to $ 100k in financing . if you already use paypal on a consistent basis then paypal capital could be a fast financing solution .
the nonbank financial system is estimated at $ 3 . 2 trillion in the u . s . and $ 15 trillion globally , according to the bank for international settlements . foundation capital , a venture capital firm , estimates the global peer - to - peer lending industry alone will reach $ 1 trillion by 2025 .
the wall street journal , in an article entitled inside jp morgan’s deal with ondeck capital , stated that the partnership would “help the bank process applications more inexpensively and quickly , in hours instead of weeks” . there you have the delivery element .
“i looked into ondeck online and found the whole process very easy and the know your score tool was very straightforward . i’d definitely recommend ondeck to another business . ”
there are a number of online lenders out there other than traditional banks , but ondeck capital inc ( nyse : ondk ) , lendingclub corp ( nyse : lc ) and credibly all offer unique products and services that specifically cater to small businesses .
the smart box tool will help give you a better picture of your total cost of capital when you are analyzing a potential loan . this will allow you to :
new york startup on deck capital hopes to appeal to these millions of businesses with a loan application process that takes minutes to complete and can be approved within a day .
small business owners are lucky to have so many options today to get short term working capital , with ondeck and kabbage leading the way . we recommend ondeck overall for small businesses because they loan larger amounts of money with longer terms . a kabbage loan is a good option for small businesses that generate lower revenues of $ 50k – $ 250k , or who need monthly payment terms .
both lending club and ondeck illustrate the growth of the alternative lending market , despite low interest rates .
ondeck and kabbage are both great at offering short term working capital . however , this doesn’t mean there aren’t viable alternatives . for example , you may qualify for a more affordable loan if you have outstanding customer invoices or if you process your customer payments with a specific service like square or paypal . further , if you need a longer term loan , then an ondeck or kabbage competitor may be best .
we recommend an ondeck business loan over a kabbage loan because they offer lower rates for prime borrowers and can originate much larger loans . ondeck can get you a term loan much quicker than traditional financing lenders , like banks . plus , on average , ondeck is half as expensive as a merchant cash advance .
these companies are building defensible moats against bank competitors for a variety of fundamental reasons . the one area where the funding cost advantage that banks have doesn’t work for them is in areas where new credit models are required . regulators insist that banks keep disproportionate amounts of equity capital in reserve when they try new things , and while their debt capital ( ie , deposits ) is cheap , bank equity capital is quite dear . in addition , these segments generally start out with high apr models . they can support high interest rates , as by definition these customers don’t have good alternatives , and as discussed , they require high interest rates to compensate for the risk and elevated cost of capital . over time , aprs can come down dramatically , but these segments are generally dismissed in the early days as predatory or niche .
your advisor is prepared to work with over 700 different industries . no company is too niche for ondeck .
while kabbage customers don’t provide as glowing reviews as ondeck’s , kabbage also gets good reviews . one of their best features is that they require monthly payments , where ondeck requires payments every week . kabbage is also quick to fund and like ondeck they can get you the money you need in as quick as 1 day .
the company which makes mainly short - term loans to entrepreneurs who need a quick hit of capital to buy inventory or expand rapidly , plans to use the cash infusion to expand by growing its team and launching new products . ondeck uses algorithms to assess applicants based on cash flow , online sentiment and credit history .
our simple , secure web platform and mobile app make it easy to access your ondeck account anywhere , anytime .
“ondeck is a business solution for the future and it’s available now . myob loans powered by ondeck assists businesses by creating cash flow and easing time restraints , two pain points smes have repeatedly told us place pressure on their businesses”
existing investors institutional venture partners , rre ventures , sap ventures , google ventures , first round capital and peter thiel also participated . ondeck has now raised a total of $ 180 million in equity and over $ 300 million in debt financing . james robinson iii , the former ceo of american express , is an investor and director .
created to support and empower small businesses , ondeck is 100 % committed to serving our customers with the smartest financing solutions and world - class service . ondeck is the secure financing service that business owners everywhere can truly rely on .
smartbiz offers fast sba loans of up to $ 350k for working capital in as quick as 30 days . if you’re a prime borrower and can wait a month or more for financing , then this is a great solution .
ondeck and kabbage offer very quick business loans . despite the fact that they have a pretty high cost of capital , most customers seem to be willing to go back for a second or third loan from these alternative lenders . the speed of funding is very helpful and convenient , even for prime borrowers who have the capacity to repay the funds quickly .
while some loans are funded by individuals or institutions like banks , ondeck last year began shifting toward funding more loans itself .
on deck capital , inc . is an on - line platform that uses a big data , analytic model to source , underwrite , and fund loans to small businesses . the company offers online tools and resources including data aggregation and electronic payment technology , and to evaluate the health of small businesses . it ' s small business loans include dental loans , restaurant loans , medical financing , restaurant financing , fast small business loans , fast small business financing , online small business loans , online applications for small business loans , small business loans online , retail capital , fast small business financing , short - term business loans , business equipment financing , small business equipment financing and merchant cash advance . on deck capital inc . is based in united states .
as a result , ondeck’s provision for loan losses more than doubled during the fourth quarter , to $ 55 . 7 million .
getting a business loan from a bank can be a nightmare even if you’re well qualified , because they’re slow and require tons of paperwork . short term loan providers have stepped in to make getting a business loan easier for small businesses . in this article , we review the rates , terms , and qualifications of the two best short term business lenders : kabbage vs ondeck capital .
current and historical pe ratio for on deck capital ( ondk ) from 2013 to 2018 . the price to earnings or pe ratio is calculated by taking the latest closing price and dividing it by the most recent earnings per share ( eps ) number . the pe ratio is a simple way to assess whether a stock is over or under valued and is the most widely used valuation measure . the current pe ratio for on deck capital ( ondk ) as of march 31 , 2018 is 238 . 33 .
the average apr for ondeck business loans was 40 . 6 % in the first quarter of 2016 . kabbage , which is not a publicly traded company like ondeck , told us that risk analysts in two separate offices confirmed an average apr of ~ 40 % .
“ondeck’s process was very streamlined . i called them up , told them what i wanted to do , filled out some paper work , and within a couple days i had the money deposited in my bank account . i highly recommend ondeck to any small business looking to grow . it has been very good for us — my business has grown 59 % since i started working with ondeck . ”
very small businesses will have trouble meeting ondeck’s minimum annual revenue requirement of $ 100k per year , but kabbage only requires $ 50k .
ondeck also offers a business line of credit in addition to a short term loan . once you are approved for the ondeck line of credit , you can use their mobile app to withdraw funds from that line quickly and easily ( shown in the middle picture above ) .
ondeck is the big winner if you need financing north of $ 150k because that is the maximum you can get with kabbage . while both companies can get you funded for small amounts , ondeck will loan up to $ 500k for businesses with better revenues and longer operating histories .
we will see greater financial benefits from our decision beginning in 2017 ,
ondeck chief executive noah breslow said in a press release .
a kabbage business loan can be a better fit than ondeck if you can’t meet ondeck’s revenue requirements or if you require monthly repayment terms . kabbage business loans are much quicker and easier to get approved for than a traditional bank . they’re also more affordable than a merchant cash advance .
know someone who’d be a great fit for ondeck in north america or australia ? you could receive a referral bonus of $ 2 , 000 .
one of the largest companies originally known as peer - to - peer lenders , ondeck runs a website where small businesses can apply for loans .
on deck capital , inc . , incorporated on may 4 , 2006 , offers an online platform for small business lending . the company ' s platform aggregates and analyzes data points from disparate data sources to assess the creditworthiness of small businesses . small businesses apply for a term loan or line of credit on the company ' s website , and using its ondeck score , the company makes a funding decision and transfers the funds .
it’s important that the repayment schedule of a working capital loan fits within a small business’s normal cash flow . some small businesses will have no problem adhering to a daily or weekly repayment schedule . for other businesses , monthly payments may seem like the only repayment schedule that will work .
ondeck loans and kabbage loans have similar costs , with both companies reporting average aprs of ~ 40 % . however , at 9 . 99 % , ondeck’s lowest possible rate for prime borrowers is lower than kabbage’s . the average apr’s include ondeck’s origination fee of 2 . 5 % on every loan , which is taken out upfront from your total loan amount . kabbage charges a single interest fee on their loans per month with no additional fees .
we are seeking to transform small business lending by making it efficient and convenient for small businesses to access capital . enabled by our proprietary technology and analytics , we aggregate and analyze thousands of data points from dynamic , disparate data sources to assess the creditworthiness of small businesses rapidly and accurately .
ondeck shares were down 15 . 5 percent at $ 4 . 75 in late - morning trading after falling as low as $ 4 . 26 .
in the fourth quarter , ondeck’s net loss attributable to shareholders widened to $ 35 . 9 million from $ 4 . 6 million a year earlier .
when applying for a short term business loan , the three main qualification requirements that the lender will consider are credit score , revenues , and time in business . kabbage is easier to qualify for than ondeck in terms of business revenues , with $ 50k + annual revenues requirement while ondeck requires $ 100k + . however , in terms of credit score , ondeck is easier to qualify for , with a 500 + requirement compared to 550 + for kabbage .
“companies like ondeck are so important – they help you build your business credit while removing stressful ups and downs in cash flow , which is really helpful for businesses like mine . last year we made about 300 watches , and this year we’ll make over 1 , 000 thanks to funding from ondeck . ”
another reason we like ondeck capital loans is that compared to other financing options , they’re very fast to approve and fund your loan . the application is online and there’s very little paperwork that you have to submit . you can get approved the same day that you apply and funded in as little as 1 business day . usually , there is no hard credit check , so applying for a loan will generally not have any impact on your credit score .
ondeck , a company that makes online loans to small businesses today announced it raised $ 77 million in a late stage round led by tiger global management .
like its digital lending peers , ondeck has been struggling with investor’ concerns over the quality of its underwriting and ability to maintain a rapid pace of growth .
just when it looked like the small business lending environment couldn ' t get any darker , the dawn of the fintech revolution has made access to business capital easier than ever . on deck , lending club and credibly are only three of the countless fintech funding options out there for today’s small business owner .
ondeck launched in 2007 to solve a major issue facing small businesses : efficient access to capital . our passion for main street and the cutting - edge technology we use to evaluate businesses based on their actual performance , not solely business owners’ personal credit scores , make it possible for us to responsibly expand access to credit . this allows businesses to spend their time where it provides the most benefit—on their customers and on growing , not looking for a small business loan .
the recent tie - up between jp morgan chase and ondeck is perhaps the best example of the value that an online lending platform has to offer to the traditional underwriting process . chase began offering loans to its roughly 4 million small business customers in partnership with ondeck in january of this year . the money comes from chase’s balance sheet , and the loans carry chase branding , with the ondeck platform taking on a kind of white - label , behind - the - scenes role .
ondeck gets an average 9 . 4 out of 10 point rating on trustpilot and 3 . 5 out of 5 - star review on yelp . they have an a + rating with the better business bureau . business owners were happy with the speed of getting an ondeck loan and the fact that they could get a loan at all after being rejected by numerous banks . there have been some complaints from people who found ondeck’s interest rates confusing and who got the impression that they could save on interest if they pay the loan back early . you cannot save money by prepaying an ondeck loan , because you agree to pay back a set dollar amount . we recommend that small businesses take the time to understand the apr of any loan before committing to it . read our ondeck review to learn more .
ondeck is also very active in responding to customers on the better business bureau ( bbb ) website , where they currently have a 78 % positive rating from customer reviews .
ondeck and kabbage both get pretty good customer reviews . both are able to retain customers for multiple loans despite their high apr costs . this speaks volumes to the customer service of each , which we have found to be very good with both businesses . however , past customers rank ondeck a bit higher on overall satisfaction than kabbage’s customers do .
ondeck reduced its gross revenue guidance for the full year to between $ 278 million and $ 288 million , down from $ 320 million to $ 328 million three months earlier .
ondeck has a very active customer service team . you can reach them by phone , email , or online live chat . you have a personal loan specialist you can reach out to at any time who will be familiar with your business’s loan . you can easily connect with your loan specialist or any of the other service options directly through ondeck’s mobile app .
ondeck was founded in 2006 and saw revenue of $ 65 million revenue last year , earning it the number 11 spot on forbes ' 2014 america ' s most promising companies list .
the interest rates charged by ondeck can be higher than traditional bank loans , but well qualified borrowers can actually see rates as low as 9 . 99 % . and even with average aprs of ~ 40 % , ondeck gets great customer reviews . that might have something to do with the fact that returning customers can qualify for lower interest rates and lower origination fees .
ondeck capital is currently in its quiet period before going public and declined to be interviewed for this story . the company offers loans from $ 5 , 000 to $ 250 , 000 with terms of between three and 24 months . decisions can be made in
minutes
and payback rates vary . loan rate examples include $ . 017 cents on the dollar for a $ 25 , 000 loan over six months ; and $ 0 . 33 cents on the dollar for $ 57 , 000 loan over 18 months , according to its website .
amid all the changes , ondeck’s originations of $ 2 . 4 billion in 2016 were up 26 percent from the prior year , less than half the pace of growth it posted in 2015 .
¹eligibility for the lowest rates is very limited , available only to businesses with the strongest creditworthiness and cash flows , and typically businesses that have shown an excellent payment history on prior loan products with ondeck .
ondeck expects to generate net revenue of $ 377 million to $ 387 million this year . the analysts’ average forecast is within that range , according to thomson reuters i / b / e / s .
ondeck loans go up to $ 500k with terms of 3 - 36 months . if you have $ 100k + in annual business revenue , a credit score of at least 500 , and have been in business for a minimum of 1 year , then you can pre - qualify online today within a few minutes . ondeck is easy to apply for and can fund your loan as quickly as 1 day .
the disappointing results led to a rapid sell - off of ondeck ' s shares . the firm ' s stock price fell by 29 % to $ 5 . 90 in after - hours trading monday .
the article goes on to explain that ondeck will earn a fee for originating and servicing loans of up to $ 250k in size on behalf of chase – loans that were “previously considered too small to move the needle at the big bank” . ondeck has made lending to businesses in this market segment economically viable through the use of cutting edge technology . jp morgan is attempting to capture a measure of that success for itself .
the third reason we chose ondeck is loan size and terms . they tend to approve much larger amounts than their competitors , including kabbage . ondeck provides loans up to $ 500k and may approve a loan for as much as 15 % of a business’s annual revenues . you can choose repayment terms between 3 – 36 months based on what you plan to use the loan proceeds for and how much you can afford to repay monthly .
i’m quite familiar with them . they are the pioneer in an innovative new funding model for specialty finance companies , whereby they originate loans and then sell them off entirely , without keeping any of the risk or needing to tie up any equity capital in their assets . they receive a ~ 4 % origination fee and an ongoing 1 % annual servicing fee on the assets . they benefit from a number of unsustainable trends , including :
ondeck is the largest online small business lender in the u . s . since 2007 , we’ve issued over $ 8 billion in loans for many business needs including inventory purchase , equipment acquisition , hiring , and general corporate purposes . serving more than 700 industries throughout the country , ondeck has been trusted by over 80 , 000 small businesses by providing them with a term loan or line of credit to help them build a growing and thriving enterprise .
small businesses can apply for a term loan or line of credit on our website in minutes and , using our proprietary ondeck score , we can make a funding decision immediately and transfer funds as fast as the same day .
ondeck believes that each and every team member plays an important role in our company’s success . that’s why we strive to provide you and your family with a competitive and comprehensive benefit program with a variety of options and opportunities .
ondeck summary loan amount : $ 5k – $ 500k terms : 3 – 36 months starting rates : 9 . 99 % expected apr range : 30 - 50 % funding time : 1 - 3 days credit score : 500 +
ondeck and kabbage both downplay apr when working with borrowers . instead , they like to focus on the dollar amount that the borrower will have to pay back over the life of the loan , which is called the factor rate .
like ondeck , kabbage offers a very responsive customer service program . both borrowers and applicants can reach out to their support team via phone , email , or online live chat . you can even reach out directly from their app .
so which is it ? is lending a good business , where moats and profit pools are durable and one can build billions in equity value … or is it an inevitable cash bonfire when the cycle turns ? is credit a critical lubricant for the economy , the more the better , or a creeping contagion to be limited , particularly in the “shadow” banking system ? as someone who co - led the seed round in one of the first alternative lending companies ( ondeck ) , and went on to serve as chairman , but who has not invested in a single lender since , i stand somewhat astraddle this issue . after watching closely for ten years , i remain convinced that the leaders of alt lending 1 . 0 ( specifically lending club , sofi and ondeck ) , if they can avoid getting acquired due to depressed stock prices , will build enduring platforms . i am most worried about the wave of “me , too” players that came next , alt lending 2 . 0 . most of them built their business plans on the now shifting sands of temporarily high valuations and cheap capital , and have insufficient differentiation to carve out a durable niche . i am most excited about the alt lending 3 . 0 players , who have had the ability to learn the appropriate lessons of the past decade and can both pick their spots and choose a more capital efficient path .
ondeck said that it had $ 44 . 6 million in operating expenses , up 33 % from the same period in 2015 . the firm attributed some of that increase to efforts to license its technology to banks such as jpmorgan chase .
rates are designed for short - term lending and therefore aren ' t low - a typical rate for a six - month loan is 20 cents for every dollar borrowed . the average loan is around $ 35 , 000 , says ondeck .
minimum requirements to apply : many of our financing options require a minimum of 1 year in business and $ 100 , 000 in gross annual revenue . ondeck serves over 700 industries , so it’s likely that we’re able to work with you .
“each time i took out a loan with ondeck , the interest rate went down , and i like that i can pay a little off my loan each day . the funding helped me boost my advertising and manage my cash flow . ”
ondeck is a publicly traded company on the new york stock exchange under the symbol ondk . being a publicly traded company gives you the borrower more insight into what the lender is doing because of the legal requirements public companies must abide by .
streetshares is an ondeck and kabbage competitor that offers longer term loans and line of credit products to borrowers with stronger credit profiles . if you want a more affordable loan with a longer term , this could be a good alternative option for you .
ondeck ’s unique business lending technology allows for borrowers to receive a loan decision in a matter of minutes and receive their funds in as little as one business day . instead of ruling out potential borrowers due to flawed personal credit histories , o deck focuses instead on the health of the borrower’s business . if you have less - than - perfect personal credit but are running a successful small business , you are much more likely to get approved for an ondeck loan than you would be at most banks .
however , ondeck places a ucc lien on your general business assets for all loans , and kabbage does so for loans above $ 20k . this means that the lender can seize any and all business assets if you’re unable to pay back the loan .
collateral is an asset or assets that you pledge as security for a loan . most traditional bank business loans require you to put up specific collateral , such as business equipment or machinery , as backing for the loan . neither ondeck or kabbage requires collateral .
at ondeck , we’re reinventing small business financing . we care intensely about each other , our company and the customers we serve , and are committed to making every day count . we are small enough to be nimble and strong enough to make a big impact .
from the very first call , your loan specialist is always there for you . ondeck loan specialists work with business owners like you every day , so they’ll be able to answer questions about business loans , industry challenges , and picking the best financing for your situation .
ondeck reported gross revenue of $ 62 . 6 million during the first quarter . while gross revenue was up 11 % from the same period a year earlier , it fell short of the $ 66 million to $ 69 million that the firm projected three months ago .
the graph below shows how much money each lender has loaned out from the inception of their business to 2017 . both companies have initiated more than enough loans for you to be comfortable with them , but businesses have borrowed twice as much from ondeck as they have kabbage .
as a public company , ondeck is required to regularly report its earnings , and the total value of their business is their market capitalization , which is the value of their current outstanding shares . kabbage is a privately held company so valuations available to the public are rare .
it’s important to understand each aspect of ondeck and kabbage loans in more detail to fully understand how they compare to one another . below we’ll look at loan requirements , terms , and costs to give you a better idea of which lender is the best choice for your business .
ondeck’s mobile app also makes it easy for you to get the answers you need from their customer service team . they provide contact information for your individual loan specialist and information on contacting the general support department . you can email or call their support team directly from the app .
fundbox also offers a no credit check business line of credit with up to $ 100k in financing . if you only need up to $ 100k in financing and don’t want your personal credit to factor into your approval , then fundbox is a good kabbage and ondeck competitor to consider .
developing an advantage in customer acquisition is harder than it might appear . at first blush , it might seem that all it takes is to pick an unloved segment and get to know its idiosyncrasies and tendencies well enough to create a focused channel and tailored dialogue . in practice , progressive and thoughtful traditional lenders like capital one have mined most of the segments large enough to build a business around . the only way to build a durable competitive moat based on customer acquisition is to become integrated into a channel that is proprietary , contextual and data - rich .
we ' ve learned a thing or two by working with more than 70 , 000 business owners just like you . with ondeck , you don ' t just get money in your pocket , you also get credit resources , renewal benefits and , best of all , peace of mind .
ondeck ’s mobile app is designed to help you manage your loan in a single place . the app gives an account overview of where you stand on each loan you currently have in repayment . you can also easily check the status of all account transactions including the loan payments you have made .
flexible terms and rates based on your business’ performance , and not solely personal credit history , may make an ondeck loan an attractive option when compared to a traditional bank loan . we offer a quick response to loan applications by qualifying and evaluating business performance based upon a variety of important performance metrics .
while each company advertises lower possible rates , we expect the typical kabbage and ondeck borrower to pay between 30 % – 50 % apr . this interest rate could be lower or higher depending on the creditworthiness of the borrower , the amount of the loan , and when the loan is paid back .
ondeck , a digital lender , attributed the worse - than - expected quarterly results to its decision to hold more of its small - business loans on its own balance sheet . that decision came at a time when online lenders are having a harder time selling their loans to investors at favorable prices .
ondeck and kabbage are part of a group of lenders who have come together through the innovative lending platform association ( ilpa ) to provide a disclosure tool that can help you better understand and compare the true costs of their loans . this disclosure is available after the application process , but before you commit to the loan .
minimum requirements to apply : many of our financing options require a minimum of 1 year in business and $ 100 , 000 in gross annual revenue . ondeck serves over 700 industries , so it’s likely that we’re able to work with you . just in case , here is a list of the few industries we can ' t serve
even though short - term business loans from ondeck and kabbage have high aprs , keep in mind that you end up paying them off much quicker than you would pay off a conventional bank loan . the total out of pocket cost of a short term loan is often less than the out of pocket cost of a bank loan .
small business owners are busy and not always behind a desk . this is why it’s essential in today’s business world for financing to be available on mobile devices . kabbage and ondeck do this by having their own mobile apps . each app is easy to use and will help you stay up to date with any outstanding loans you have .
overall the smart box tool is a great way to measure your loan costs more accurately and to compare those costs against other options . both ondeck and kabbage currently provide this disclosure after you finish the application process , but before you accept the loan . before you take out an online business loan , look for the smart box disclosures .
while i’ve come to be known as a skeptic on marketplace lending per se , i see a great deal of opportunity in alternative lending more broadly . that said , things are going to get harder before they get easier . valuations are down significantly , and the market volatility combined with a slowing economy will produce challenges with both default rates and access to liquidity . of the alternative lending 1 . 0 players , lending club will be a survivor , and a long term leader . while it doesn’t have many of the distinctions i note above as important , it has scale , a brand in the capital markets for producing high quality assets , and an unbelievable management team . in fact , lending club may be the best example of managerial execution in a commodity market since amazon , and like amazon , if they continue on their current path they will figure out a way to create enormous value . ondeck , in a sense , has an easier road ahead . they are very far along an experience curve with regard to the new world of small business lending , and it’s hard to imagine someone catching them . i worry about the 2 . 0 originators , which tend to be only slightly differentiated fast followers of either lending club or ondeck ; it will be very hard to be anything other than the leader in this shaky market environment .
there are relatively few examples of companies that have gotten all of these elements right , but there are some . oportun provides credit to otherwise highly disadvantaged hispanic borrowers . what a bank sees as a 620 fico , oportun sees as an employed but challenged immigrant with a spotless record of sending remittances home . sub - prime and near - prime lenders like avant and lendup have proven out extremely advanced consumer credit models in unattractive segments , and are working quickly to leverage those models into more mainstream businesses . in small business , ondeck chose a large segment that had historically been attractive but hard to serve . where a bank sees a generic smb with a business owner fico score of 650 , ondeck sees a plumber with far higher efficiency than comparable businesses in its zip code , and a glowing set of reviews on angie’s list . this hard work comes at a cost ; ondeck’s r & d expenditures , noted above , are characteristic of the successful companies in this category . you have to have real ip to win here .
renaud laplanche out at lending club , share prices tanking at both lending club and ondeck , job cuts at prosper and avant – all prompted by a general slowing of institutional investor demand for marketplace loans . if you follow the industry with even a passing interest , you’d be hard pressed not to have heard it declared dead over the past fortnight .
we keep calling these ' alternative lenders , ' and we need to stop because demand is up for these loans and they ' re becoming mainstream ,
stibel says .
with both lending club and ondeck , i see it as a sort of christmas miracle for small businesses . seeing these companies succeed means small businesses succeed as well .
bluevine offers two main products . one is invoice factoring based on the value of your invoices and the other is a business line of credit with a minimum credit score of 600 + . you’ll want to use bluevine over kabbage or ondeck if you have a low personal credit profile or if you have a lot of outstanding customer invoices ( up to $ 5 million ) .
kabbage gets good reviews , but not as good as ondeck . it has a 9 . 3 out of 10 on trustpilot and an a + better business bureau rating . customers gave good reviews because of the speed of getting the loan . businesses liked the minimal paperwork–you can apply simply by linking your business bank account , amazon seller account , quickbooks account , or other business accounts .
we believe ondeck gives small businesses the best chance of getting approved for a short - term business loan . business owners only need a credit score of 500 + , $ 100k in annual revenue , and at least 1 year of operating history to be considered . many other providers of short - term loans require credit scores upwards of 600 + and up to two years of business history .
a personal guarantee means that you’re personally responsible for payment of a loan . if your business goes under and you can’t afford the loan payments , the lender can make you turn over your personal assets ( e . g . your car or home ) to pay off the loan . a personal guarantee is common with most small business borrowing and both ondeck and kabbage require a personal guarantee .
ondeck originated $ 569 million in loans during the first quarter , up 37 % from a year earlier . the effective interest yield on the company ' s loans fell to 34 . 5 % , down from 37 . 6 % in the same period of 2015 . the percentage of loans that were at least 15 days delinquent fell from 8 . 4 % to 5 . 7 % .
most start - up originators focus on the opportunity to innovate in credit decisioning . the headline appeal of new data sources and new data science seem too good to be true as a way to compete with stodgy old banks . and , in fact , they are indeed too good to be true . building new credit models is hard , inherently time - consuming and expensive . fundamentally , you can’t figure out how to distinguish between the “goods” and the “bads” without sufficient “bads” , and “bads” cost you money . credit losses can also take some time to develop , depending on the category , and assets can behave quite differently in different economic cycles . until you have a model that is proven in a highly durable way , your cost of capital will be very high .
loans subject to lender approval . depending on the state where your business is located and other attributes of the loan , your business loan may be issued by celtic bank , a utah - chartered industrial bank , member fdic . your loan agreement will identify the loan issuer prior to your signing . ondeck® is a registered trademark . all rights reserved . 1400 broadway , new york , new york .
i’m quite excited about alt lending 3 . 0 , made up of earlier stage originators whose strategies line up with the precepts above , and who have gotten the memo about appropriate valuations and capital efficiency . for lending high flyers , as for the rest of the “unicorns” , the notion that high growth and “disruption” justify valuations detached from estimates of future cash production has gone away . companies seeking funding in the lending space today generally have less of the gold rush mentality of the alt lending 2 . 0 players , who sought to take advantage of an enthusiastic investing community ; instead , they are motivated by legitimately unmet needs and the prospect of meaningful moats . for the first time in a decade , i’m feeling like it’s a great time to be starting a lending company .
that said , i don’t think it matters whether marketplace lending ends up being a viable long - term funding strategy or not . what lending club , ondeck and others proved was that they could effectively compete with banks and build share in their respective categories . the unique way that lending club funded its assets was a feature , not the entire product . as an example , when i backed ondeck originally , it was before marketplace lending ( or “peer to peer” lending , as it was originally called ) was in vogue , and the assumption was that we would have to follow the traditional asset funding path . that path involves funding initial loans using 100 % equity , until the assets are proven out , then layering in leverage over time . this generally starts with a 50 % loan - to - value advance rate , eventually climbing to 80 - 90 % over time as / if the assets perform . ultimately , you can build a highly redundant funding machine , as ondeck has done , with essentially equal parts balance sheet funding ( using high advance rate leverage and an spv ) , rated securitizations and whole loan sales ( the prosaic , old school term for what now goes by the dazzling nom de guerre marketplace lending ) .
as an amusing aside , i’ve now been involved in two public panel discussions and multiple private conversations with lending club investors around funding models . it always goes the same way … they say that there is no more resilient model in capitalism than a marketplace model , hence the ineffable beauty of lending club . i then ask how a marketplace could be more resilient than a marketplace plus a securitization conduit plus committed multi - year balance sheet funding ( the sofi , avant and ondeck model , among others ) . following that i am branded an apostate and asked to relinquish my fintech fan club ™ membership card . in point of fact , i consider no fewer than 6 current or past lending club board participants close personal friends , and the visionary investments they made in that company cemented their reputation as great investors . i just think the reason they chose well is the classic venture capital formulation of “great founder , big market” , rather than any notion that lending club discovered the credit equivalent of cold fusion . the fact that lending club was able to scale without using equity in its loans because of the marketplace model was a brilliant strategy , but far from the most important aspect of the success of the company .
the home run is when the credit offer is not only presented in context , but also can be structured with the benefit of relevant data . fundbox lends to small businesses by advancing them payment on receivables , in what is akin to a traditional factoring transaction ( though without claim to the asset ) . they integrate with online accounting systems like quickbooks , which not only provide them access to customers , but do so in a way that allows them to learn a great deal about the creditworthiness and demand for capital of their prospective customers . bluestem brands has a business called paycheck direct , in which they integrate with payroll systems to provide access to an e - commerce catalog on credit to low fico employees ; by having access to the payroll system for both underwriting and collections , they have a massive advantage over payday lenders .
instead of having to meet with a loan officer toting income tax records , personal finance records and other paperwork , applicants upload 90 days’ worth of cash flow data . from there , ondeck grabs personal and business credit history from bureaus like experian as well as scanning publicly available records for past lawsuits . it also considers the health of an applicant’s industry and region , and checks online reviews from sites like yelp and google places .
in addition , kabbage loans have added flexibility because they work like a line of credit . you get a maximum amount of money that you can draw from as needed , and you only pay interest on money that you use . as you pay off what you borrow , those funds become available to you again ( like a credit card ) . ondeck also offers lines of credit , but the qualification requirements are stricter than kabbage .
“i remember the process being smooth and straightforward , it can be incredibly stressful ; fortunately , ondeck had quick questions and quick responses . i could see how much financing i was approved for and what that meant [ regarding payback ] . i had the opportunity to review everything before i took the loan . the speed and efficiency of the process were incredible . i was able to introduce my recoverywear line and increase sales 4x over . ”