Applying for a line of credit at OnDeck is quick and simple
How other small business owners have used their OnDeck Lines of Credit
FAQs: OnDeck Line of Credit
What is Instant Funding*?
Instant Funding is the fastest and easiest way for small business owners to access working capital to run their business. OnDeck is one of the only lenders to offer business lines of credit with instant access to your funds. Draw from your line of credit when you need it and see the funds in your account in seconds, 24/7 even when the banks are closed – so you can get back to business as fast as you can click “draw funds.” And the best part is Instant Funding is available at no extra cost.*
How does my line of credit payback work?
Unlike other online lenders – our line of credit is revolving with no draw fees (just a monthly maintenance fee). Funds replenish as you pay them back – and additional draws are consolidated into one loan with one easy weekly payment.
Can I get a credit line increase?
There are some times when you could really use access to additional funds. Based on your cash flow, net income and payback history you may be eligible for a credit line increase. All you need to do is call your dedicated loan advisor to learn more.
Can I get a term loan in addition to my line of credit?
You may have a project that could benefit from funds beyond the capabilities of your business line of credit. At OnDeck we understand and our term loans are available in addition to your business line of credit. Reach out to your dedicated loan advisor to explore some of your available options.
What is the SMART Box®?
Transparency is key when it comes to choosing a lender. That’s why OnDeck developed the SMART Box Capital Comparison Tool. In plain English and an easy-to-read format, this tool shows you key terms you need to evaluate potential short term loan offers so that you have a comprehensive, standardized breakdown of your cost of capital. The SMART Box is used by all members of the Innovative Lending Platform Association.
Minimum eligibility requirements for an OnDeck Term Loan or Line of Credit*
Here’s what business owners like you have to say
*There are some industries we cannot serve (see list of restricted industries), as well as some industries and states impacted by the Coronavirus to which we are temporarily not lending. In addition, OnDeck does not lend to businesses in Nevada, North Dakota or South Dakota. OnDeck is no longer accepting new Paycheck Protection Program (PPP) loan applications. 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, 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.