In a challenging climate for online lenders, questions are mounting about OnDeck Capital’s path to eventual profitability.

The New York-based small-business lender reported its fifth consecutive quarterly loss on Thursday. The $35.9 million loss was the firm’s biggest since its initial public offering in late 2014. That gusher of red ink equaled more than 10% of OnDeck’s $340 million in market capitalization.

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