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Same-Day Funding is only available in certain states, for term loans up to $100K. Eligibility window is Monday – Friday before 10:30 a.m. ET. If checkout is done before 10:30 a.m. ET, funds will be available by 5 p.m. local time the same day. If checkout is done after 10:30 a.m. ET, 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.
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.
Saving money on outstanding interest is only applicable if a loan is prepaid in full before the end of your payment period. When you pay off your loan early, you would owe 75% of the remaining interest that was disclosed in your original loan agreement.
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 term loans is 52.0% APR and the average rate for lines of credit is 52.6% APR. Averages are based on loans originated in the half-year ending March 31, 2023.
In states with specific commercial financing disclosure laws, we will use the state-required disclosure rather than the SMART Box^®.
Origination Fee reductions on renewal loans are not applicable to customers that have a 24-month term loan.

Depending on the state where your business is located and other attributes of your business and the loan, your business loan may be issued by a member of the OnDeck family of companies or by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC. Your loan agreement will identify the lender prior to your signing. Loans subject to lender approval.

4700 W. Daybreak Pkwy., Suite 200, South Jordan, UT 84009

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