OnDeck Review

ByKevin MercadanteNov. 15, 2020

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In a Nutshell

OnDeck offers conventional business loans and lines of credit, allowing flexibility to get the loan you need. Best of all, you can have your money within 24 hours with fast approval and excellent customer service.


  • 24-hour approval
  • Excellent customer service


  • $100,000 yearly revenue is high for younger businesses
  • 1+ year in business or more only

OnDeck at a Glance

Loan typesTerm loans, lines of credit
Loan amount$5K-$250K
Repayment terms3 to 36 months
Minimum credit score600+
Minimum monthly revenue$8.5K
Time until fundingAs fast as 24 hours

Service Profile

OnDeck offers two flexible financing options: a line of credit available up to $100,000 and a term loan, available up to $250,000. You can apply online in just a few minutes or call directly and speak to a loan specialist. Rates start as low as 9.99% APR for term loans and 13.99% for lines of credit. Decisions are made within minutes and you can receive money in as fast as 24 hours.

Loan Features

  • 3- to 36-month terms
  • $5K-$250K limit
  • Rates as low as 9.99% annualized interest rate
  • Approval within minutes
  • Funding in as fast as 24 hours
  • Prepayment options
  • Transparent rates and fees

Loan Application Information

To apply for a business loan or line of credit from OnDeck, you must be a U.S citizen and at least 18 years old. Your loan will be originated under either Virginia or Utah law depending on the location of your business, but all 50 states are eligible. For all financing, you must have been in business for a year with  at least $100,000 in annual revenue. OnDeck will require details from you to assess your application, which will cover both yourself and the business that you’re representing. Expect to enter some standard information including company revenue, address, annual revenue.OnDeck has an A+ BBB rating, with a privacy policy and practices that have been reviewed by TRUSTe for compliance with its standards on transparency, accountability and choice regarding the collection and use of personal information.

Repayment Terms

For OnDeck financing options, repayment terms range from 6-36 months, which allows you to use financing for various use cases like funding purchases you can’t put on your credit card to purchasing a bulk inventory deal. There is a one-time origination fee, which will be based on your loan amount as well as prepayment options if you decide to pay back early.

Help & Support

OnDeck offers highly skilled advisors that are available six days a week to answer questions and provide ongoing support. You can call, email or live chat to ask questions and receive a customized assessment of your business The website itself provides more information than most of its competitors – but for queries that we had otherwise, OnDeck answered them quickly and honestly.


OnDeck is one of the most accessible, friendly and well-known lenders on the market at the moment. With endless positive reviews, in business since 2007 and $10 billion delivered to small businesses globally, it’s safe to say that OnDeck is making big waves in the industry and providing a much-needed booster shot for the American economy.

Company Profile

OnDeck (NYSE: ONDK) is the leader in online small business lending. Since 2007, the Company has powered Main Street’s growth through advanced lending technology and a constant dedication to customer service. OnDeck’s proprietary credit scoring system – the OnDeck Score® – leverages advanced analytics, enabling OnDeck to make real-time lending decisions and deliver capital to small businesses in as little as 24 hours. OnDeck offers business owners a complete financing solution, including the online lending industry’s widest range of term loans and lines of credit. To date, the Company has deployed over $10 billion to more than 80,000 small businesses in 700 different industries across the United States, Canada and Australia. OnDeck has an A+ rating with the Better Business Bureau.

Physical Address


1400 Broadway Suite 2500

New York, NY 10018

OnDeck customer testimonials

ExcellentReviews 2,715
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  • author
    Abimael Ramos
    a day ago
    I needed funds to get the new truck

    I needed funds to get the new truck. Ruben Burgos helped with my loan. Even though could not get what I ask to he was very upfront and got everything finished. Thx


  • author
    Paddy Kalish
    a day ago
    Low Lifes

    Low Lifes, curtailed access to credit line despite always on time paying history. Ondeck equals Usury.Save your money and create your own line of credit. Do not borrow from these Charlatans


  • author
    Steven Smith
    Nov 20, 2020
    Dana is a great representative of your…

    Dana is a great representative of your company, she keeps in contact with her clients but isn't to pushy. She returns messages promptly and is a pleasure to deal with.


  • author
    Mike Grooms
    Nov 19, 2020
    Amanda review

    Amanda did an excellent job. She told me what documents she needed, I gave them to her and I got what I needed the next day. I am very happy with On Deck.


  • author
    Matthew Rodriguez
    Nov 19, 2020
    Business loan for working capital

    This is my second loan with OnDeck and my account manager is Matt W. He has been very helpful in getting through this process and provided me with a few options to best fit my financial situation. The whole process went very smooth and will be receiving funds in 2-3 business days. I can’t say how easy this process has been for me with Matt W’s help. Thanks, OnDeck!