OnDeck
FeaturedPaidOnline small business term loans and lines of credit with same-day funding
💵Term LoansAbout OnDeck
OnDeck is one of the most established online small business lenders, offering term loans from $5,000 to $250,000 and lines of credit up to $100,000. Known for its streamlined application, OnDeck can approve and fund loans the same day, which is critical for businesses facing urgent capital needs. OnDeck uses its proprietary OnDeck Score to evaluate creditworthiness using thousands of data points beyond traditional credit checks, allowing businesses with limited credit history to qualify for funding.
What's Great
- ✓Same-day funding available for qualifying borrowers
- ✓Term loans and lines of credit in a single platform
- ✓Proprietary scoring considers more than just credit score
- ✓Transparent pricing with no hidden fees
- ✓Dedicated loan advisors available for personalized guidance
Watch Out For
- !Interest rates can be higher than traditional bank alternatives
- !Short maximum loan terms — up to 24 months for term loans
- !Early repayment does not reduce total interest owed in some cases
- !Not available in all US states
Common Use Cases
Restaurant owner needing fast capital for equipment repair or renovation
Staffing agency covering payroll between client invoices
Retail business expanding inventory ahead of peak season
Pricing Model
Paid
Paid subscription required. Check the website for current pricing and free trials.
Category
Term Loans
Fixed lump-sum loans repaid over a set period, ideal for large one-time investments and expansions.
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