Our term loan can offer from $5,000 to $250,000 in funding, with term lengths ranging from 18 to 24 months.
Our line of credit has a maximum limit of $100,000. A line of credit is a form of revolving credit, so as you pay down your balance, those funds will become available to use again.
OnDeck offers an unsecured line of credit. Our term loan is secured, but to provide maximum flexibility, we don’t require any specific amount, type or value of collateral. Plus, there is no appraisal or specific assets required.
Instead, we secure our term loans by placing a general lien on the assets of the business and they’re backed by a personal guarantee. We don’t take personal assets of the guarantors as collateral.