Nation’s Leading Online Lender Now Offers Same Day ACH Debits and Transfers for Small Business Customers  

NEW YORK, April 5, 2019 – OnDeck (NYSE: ONDK), the leader in online lending to small business, today announced that it will offer to fund and debit customer bank accounts with Same Day ACH transfers, eliminating a decades long pain point for small business owners accustomed to the traditional ACH transfer process, which can take multiple days and lacks certainty on when the transactions will hit bank accounts.

Same Day ACH transfers from OnDeck provide qualified OnDeck Term Loan and Line of Credit customers with funds up to the National Automated Clearing House Association (NACHA) cap of $25,000 by 5:00 pm local time on the same business day the customer books or makes a draw on their line of credit.* Qualified customers are also debited via the same day ACH service, providing them additional predictability in transaction clearing times and offering better clarity around day-to-day cash flow management.

An ACH transfer is the electronic movement of money between banks through the Automated Clearing House network, one of the largest U.S. payment systems.  Up until now, delivery and posting of ACH fund transfers to customers took several business days. For small business customers facing payrolls or other financial obligations, the delay in obtaining needed funds coupled with slow posting times was often problematic from a cash management perspective.

“Today’s announcement marks an important step forward in how small businesses access capital online and subsequently deploy those funds on behalf of their business,” said Shaleen Prakash, Vice-President of Product Management, OnDeck. “Same Day ACH transfers are a game changing option for small businesses because they provide access to needed capital by the end of the business day and offer better visibility and certainty into the timing of the transactions clearing in their bank account, which in turn leads to better cash management.”

How it Works

Created by the National Automated Clearing House Association (NACHA), Same Day ACH is a service designed to move payments faster within the ACH Network. The approach unlocks the ability for users to post ACH credit and debit transactions up to $25,000 by 5:00 pm local time.

The implementation of the Same Day ACH Transfer service marks another step by OnDeck to fund approved small businesses either instantly or on the same day. OnDeck already provides real-time instant funding of loan proceeds for its line of credit customers via their existing business debit cards.  Instant funding of a business owner’s debit card from OnDeck is enabled through a partnership with Ingo Money and Visa Direct.

“At OnDeck we take pride in leveraging the best technologies that exist in the ecosystem to provide a superior experience to our customers,” said Noah Breslow, Chief Executive Officer of OnDeck. “We were the first online small business lender in North America to offer instant funding using the Visa debit network.  And, with our Same Day ACH service, we have demonstrated again our commitment to relentlessly innovating on behalf of small businesses to provide our customers with faster service.”


* If loan is booked or draw is completed by 10:30 am on a business day.

About OnDeck
OnDeck (NYSE: ONDK) is the proven leader in transparent and responsible online lending to small business. Founded in 2006, the company pioneered the use of data analytics and digital technology to make real-time lending decisions and deliver capital rapidly to small businesses online.  Today, OnDeck offers a wide range of term loans and lines of credit customized for the needs of small business owners.  The company also offers bank clients a comprehensive technology and services platform that facilitates online lending to small business customers through ODX, a wholly-owned subsidiary. OnDeck has provided over $12 billion in loans to approximately 100,000 customers in 700 different industries across the United States, Canada and Australia. The company has an A+ rating with the Better Business Bureau and is rated 5 stars by Trustpilot. For more information, visit

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