Business Term Loan

Put fast funding to work for your business. Apply for up to $250K.

Lump Sum

from $5K - $250K


maximum repayment term


daily or weekly payments

Take on your next challenge with a business term loan from OnDeck.

Part of running a business is finding the working capital to support it. You might need to buy equipment, meet payroll or fund an expansion. Traditionally, business owners would turn to banks for small business loans. But traditional business lenders require a lot of paperwork — and time that a busy entrepreneur just doesn’t have.

That’s where we come in.

At OnDeck, our small business term loans can provide funding from $5,000 to $250,000 with repayment terms up to 24 months. If approved, funds are delivered as soon as the same business day. We also offer an online business line of credit that can be useful for keeping funds on hand. These products can be used simultaneously for approved customers.

Benefits of OnDeck’s business term loan.

No hard credit pulls

Check your eligibility without affecting your credit score.***

Fast funding

Lines of credit can fund instantly.* Term loans can fund the same day.

Build business credit

We report to business credit bureaus, which helps build business credit with on-time payments.

Business funding that moves at your speed.

Step 1. Complete the application.

Our streamlined application is designed to be completed in just a few minutes.

Step 2. Get a decision.

We’ll let you know if you qualify for our term loan, line of credit or both. If approved, you can then choose your loan amount and repayment terms.

Step 3. Receive your funds.

Sign your contract and get funds as soon as the same day.

Are we a match? Check our business term loan requirements.**

1 Year

in business


personal FICO® Score


business annual revenue


checking account

FAQs: OnDeck Term Loan

How soon can I get my funds?

OnDeck’s term loan can fund to your bank account by 5 p.m. the same day you’re approved.* In comparison, standard ACH transfers from a bank can take up to three business days.

Can I get more funds after my first loan?

Many OnDeck Term Loan customers renew their loan. When you renew, all remaining interest on the original term loan is waived and you’re issued a new loan. You’ll also get a lower origination fee — as low as 0%.1

What is the SMART Box®?

OnDeck developed the SMART Box Capital Comparison Tool. In an easy-to-read format, this tool shows you key terms you need to evaluate potential small business loan offers so you have a comprehensive, standardized breakdown of your cost of capital.

Can I repay my OnDeck Term Loan early?

Yes. If you qualify for our 100% prepayment benefit option, you can pay your loan off early in full and have all remaining interest waived without any penalty or fee.

Are payments fixed or variable?

Payments for OnDeck’s term loan are fixed, so you’ll pay the same amount from the beginning to the end of your repayment term. This allows you to manage your cash flow with no surprises or large costs up front.

How does payback work?

Repaying your term loan is hassle free with automatic bank account deductions. The predictable daily or weekly payment is based on your loan amount and term length. It’s intended to be manageable based on your application information.

What can you do with a small business term loan?

Term loans provide a lump sum of cash that is often used for large, one-time purchases. Whether you need a short-term business loan repaid in a few months or a larger loan amount repaid over a couple of years, we can empower you to take on any business initiative.

  • Purchase inventory
  • Provide working capital
  • Expand or renovate
  • Upgrade equipment
  • Hire more employees
  • Consolidate business debt

See how business owners have used their OnDeck Term Loan.

“When we were first starting out, we were not able to get traditional funding, because there just isn’t funding for small businesses through traditional banks. They want you to perform first before they’ll help you. Luckily, we came across OnDeck, and we’re so grateful for the flexibility they’ve offered us over the years as we’ve grown.”

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Ellen Rozelle Turner
The William Everett Group
Chicago, IL

“As I went through working with banks and other sources, I realized that the process with OnDeck was a million times easier. The staff is really supportive and responsive, and the price is not that much different when you look at conventional loans that are long-term. OnDeck has a different product — they do a shorter term, but the pricing is actually comparable.”

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Leah Retamozo
Bilingual Child Care and Education Center
St. Paul, MN

“I chose OnDeck because they had the terms that I wanted, and they were friendly and helpful. The application process was very simple. I spoke many times with my rep with concerns and questions because this was new to us. It was something that we had never really done, and he was so helpful and explained everything… they understood what I needed.”

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Frank and Lori Cosenza
C and C Automotive
Bullhead City, AZ

Learn more about business term loans.

Business term loans are a type of business funding in which a lump sum of cash is issued to a borrower (business owner) and repaid on a regular schedule over a predetermined period of time, known as the loan term. These loans typically consist of daily, weekly or monthly payments that last from a few months to a few years. The regularly scheduled payments are usually for a fixed amount.

The repayment period for business term loans can range from a few months to 10 years or more. Larger term loan amounts will usually take a business longer to repay. Small business loans that have term lengths on the shorter side (typically 12 months or less) are commonly referred to as short-term business loans. Term loans with longer term lengths may be known as long-term business loans.

OnDeck doesn’t offer “bad credit loans.” However, a lower credit score doesn’t always mean you can’t qualify for business financing. Our business term loans and lines of credit can provide an alternative source of funding for borrowers who have had difficulty getting approved for credit cards and traditional bank loans.

  • Same Day Funding is only available in certain states, for term loans up to $100K. Eligibility window is Monday-Friday before 10:30am EST. If checkout is done before 10:30am EST, funds will be available by 5pm local time the same day. If checkout is done after 10:30am EST, or on a weekend or bank holiday, it will not qualify for Same Day Funding and funds will be deposited within 2-3 business days. Eligibility rules around creditworthiness and length of term loan apply.
  • Registration terms and conditions apply. Instant Funding registration and withdrawals are currently supported from your desktop and the OnDeck mobile website. They are not currently supported in the OnDeck mobile app. Occasionally, the transfer may take up to 30 minutes to complete due to potential Visa & bank processing lags. This benefit is available at no additional cost with a vast majority of major banks participating. Instant Funding is available for transactions between $1K – $10K.
  • There are some industries we cannot serve (see list of restricted industries). In addition, OnDeck does not lend to businesses in Nevada, North Dakota or South Dakota. Other underwriting requirements may apply.
  • We always do a soft inquiry unless your credit file is restricted, in which case we would contact you to lift the restriction which may result in a hard-pull.
  • Eligibility for the lowest rates is very limited, available only to businesses with the strongest creditworthiness and cash flows, and typically businesses that have shown an excellent payment history on prior loan products with OnDeck. The average rate for lines of credit is 48.9% APR. Averages are based on loans originated in the half-year ending March 31, 2022.
  • Origination Fee reductions on renewal loans are not applicable to customers that have a 24-month term loan.