OnDeck Capital reported its fourth consecutive quarterly loss on Thursday as investors bought fewer loans and the firm was forced to make costly adjustments to its business.

New York-based OnDeck, an online lender that provides credit to U.S. small businesses, lost $17.2 million during the third quarter. That brought the company's losses to more than $54 million over the last four quarters. For the third quarter of 2015, OnDeck recorded net income of $3.5 million.

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