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If you can’t find the answer to your question on this page, our Dedicated Loan Specialists are here to help you with any unanswered questions you may have, 6 days a week.
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  1. What products do you offer?

    OnDeck offers business term loans and lines of credit. There is one application for OnDeck financing and our system will evaluate which one best fits your business' credit profile and needs.

  2. What are your loan amounts and terms?

    Our term loans range from $5,000 - $250,000 over 3 – 24 month terms.

    Our lines of credit go up to $20,000. Payments are made over six months. The lines are revolving so as you pay down your balance, your available funds increase.

  3. How does the application process work?

    OnDeck’s application process is simple and typically takes about 10 minutes. You can apply online or over the phone by calling (888) 269-4246.

  4. What information do I need to apply?

    Typically, we only require basic information about yourself and your business. Depending on your loan amount, we may also ask for:

    1. Business Tax ID
    2. Credit card statements for the previous 3 months
    3. Bank statements for the previous 1 to 3 months
    4. Social Security number of business owner(s)
    5. Driver's license number and state of issue
  5. How do I qualify for OnDeck financing?

    To qualify for an OnDeck loan, your business should have the following characteristics:

    1. 1+ year in business
    2. $100,000+ in annual revenue
    3. 500+ FICO score of the business owner
  6. How quickly can I receive an OnDeck loan?

    OnDeck can deliver decisions in minutes, and funding in as fast as 24 hours.

  7. Is there any obligation to apply?

    No, there is no obligation.

  8. How does repayment work?

    OnDeck deducts a fixed, daily payment from your business bank account on a daily or weekly basis, depending on the product you are approved for. These fixed payments help ensure minimal impact to your cash flow and are proven to prevent the snowball effect often caused by missing larger monthly payments.

    As a customer, you will have access to an online account where you can monitor your loan and payment activity 24/7/365.

  9. Is OnDeck an unsecured loan?

    OnDeck loans are not unsecured. However, we do not require any specific amount, type or value of collateral and no appraisal or specific assets are required. They loans are secured by a general lien on the assets of the business and backed by a personal guarantee. We do not take personal assets as collateral.

  10. How is OnDeck different from other lenders?

    OnDeck is faster than a bank, and better than a merchant cash advance. Unlike banks, we can deliver decisions in minutes and we value your overall business performance – not just your personal credit score. And unlike merchant cash advances, we build your business credit and deduct fixed daily or weekly payments, rather than a batch percentage of your sales.

  11. What industries do you work with?

    We work with more than 700 different kinds of businesses in all 50 U.S. states, including restaurants, retailers, auto repair shops, healthcare professionals, HVAC contractors and many other service providers.

  12. What are your rates and fees?

    For term loans, our rates average about 15% of your total loan amount. We charge an origination fee of 2.5% of your total loan amount on your first OnDeck loan. Customers who renew their OnDeck loan will get a discounted origination fee.

    For lines of credit, our rates average about 10% of your total amount drawn. There is a $20 monthly maintenance fee that is waived for your first six months if you draw $5,000 or more within one week of opening your line.