There really isn’t a one-size-fits-all small business loan today.

Gone are the days when a small business owner could visit the local bank and meet all their financing needs in one place. Fortunately, business owners have multiple small business loan options today—including business term loans and business lines of credit from OnDeck.

Depending upon your need for a small business loan, we offer term loans from three months to three years to meet your short-term financing needs. Additionally, if you regularly need to access working capital quickly, we also offer a convenient business line of credit. Access your credit line (up to $100,000) when you need it, repay the line, and use it again the next time you need quick access to working capital. And, you only pay interest on the credit you use.

Start with one simple online application and your dedicated small business loan advisor handles all the rest.

Term Loans

Grow and invest in your business with a short-term infusion of funds for a specific project and purchases to drive your business forward

From $5K–$500K

Learn More about Term Loans

Lines of Credit

Keep your business running smoothly with reliable, revolving access to working capital to help you manage your ongoing business needs

From $6K–$100K

Learn More about Lines of Credit

A truly fast small business loan

We agree, you shouldn’t have to wait weeks to get a small business loan. That’s why if you apply for a business loan from OnDeck in the morning you’ll have an answer that afternoon. And, in most cases, you’ll have funds in your bank account within a day or two.

This is great news for those times when you need to react quickly to fill a business need or take advantage of an opportunity to capture additional ROI. With a small business loan from OnDeck, you could have an answer right away and have the money in your account before a bank would even be able to review your application.

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3 reasons why you should choose a small business loan or line of credit from OnDeck

Simple Process

One quick application. Funds as soon as same day—all to save you time.

Flexible Options

Loan amounts and term lengths that are designed to meet your business needs

Here For You

Online doesn’t have to mean impersonal—we help you find the right solution

How to compare small business loan offers

One of the biggest challenges facing small businesses today is not that they want too much, it’s that they ask the bank for too little. OnDeck offers term loans from $5,000 to $500,000 with loan terms and interest rates appropriate for your business need or that can help you take advantage of opportunities to grow your business.

Because there are many different business needs that include short-term needs like purchasing quick-turnaround inventory and longer-term needs like opening a new business location across town, small business loan terms vary in much the same way an auto loan differs from a home mortgage.

Comparing APR is only one way to evaluate a potential small business loan. With so many loans of different terms and different financing types available in the market. In addition to APR, understanding the total cost of capital on a short-term loan to purchase inventory, for example, will help you determine if the loan will help you increase ROI or add too much financial strain on your business.

You don’t need to be a small business financing expert, but you should be asking these five questions to help you compare financing offers and find the small business loan that best meets your needs.

5 questions to ask

  • What is the total cost of capital (including interest expense, origination fees, along with any other associated fees)?
  • What is the Annual Percentage Rate (APR)?
  • What is the average monthly payment obligation (regardless of whether your periodic payments are daily, weekly, or monthly)?
  • What is the total amount of interest paid per dollar borrowed (cents on the dollar)?
  • Are there any prepayment fees should you decide to pay off the loan early?

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Does an OnDeck business loan make sense for me?

Over the years we’ve helped more than 100,000 small businesses with financing. Many of our customers use their OnDeck small business loans to increase profits or otherwise grow their businesses. Increasing the ROI of a project is a good reason to borrow and a great use case for an OnDeck loan. See what some of our real customers have done with their business loan.

We serve over 700 industries—there are only a few industries we can’t serve. Learn more about Restricted Industries.

Please note: we currently cannot lend to businesses in South Dakota 

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