OnDeck Review

By: Kevin Mercadante

Service Profile

OnDeck offers two flexible financing options: a line of credit available up to $100,000 and a term loan, available up to $500,000. You can apply online in just a few minutes or call directly and speak to a loan specialist. Rates start as low as 5.99% AIR 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.


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Loan Features

  • 6-36 month terms
  • $5,000 to $500,000 limit
  • Rates as low as 5.99% 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 $6B 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 $6 billion to more than 60,000 customers 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


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Top 5 Business Loan Companies