Short-Term Business Loans

Fast funding to help you meet immediate business needs.


application process and fast funding

$15 Billion

delivered to U.S. businesses

A+ Rating

with the Better Business Bureau

How do short-term small business loans work?

Short-term business loans are designed to provide working capital to small business owners who need a one-time lump sum of money. Once approved, a lender will send the loan amount to the business’s bank account. From there, the funds can be used as cash for any business need. Short-term business loans can be easier to receive approval for than longer-term business loans, as they are most often for smaller amounts and come with shorter repayment terms.

At OnDeck, our short-term business loans are a great option for small business owners who need fast funding for a specific business investment, like expanding their location or making a large purchase for inventory or equipment. Our small business loans can be used as short-term business loans, with repayment terms up to 24 months. We also offer a line of credit, which is a form of revolving credit that replenishes upon repayment and can be used for ongoing business needs.

Meet your business needs with short-term financing from OnDeck.

OnDeck Line of Credit

An unsecured revolving credit line you can draw from 24/7 to receive funds within seconds.*

  • Credit limits from $6K - $100K

  • 12-month repayment term

  • Great for keeping funds on hand

OnDeck Term Loan

A one-time lump sum of cash with an eventual option to apply for more.

  • Loan amounts from $5K - $250K

  • Repayment terms up to 24 months

  • Great for larger investments in your business

Benefits of short-term business loans from OnDeck.

No hard credit pulls

Check your eligibility without affecting your credit score.***

Fast funding

Lines of credit can fund instantly.* Term loans can fund the same day.

Build business credit

We report to business credit bureaus, which helps build business credit with on-time payments.

Common uses for short-term business loans.

  • Business expansion. Short-term business loans can be useful for helping to open a new location.

  • Remodeling or renovations. Business loans can be used to modernize your business or restore it to its original condition.

  • Purchasing equipment or inventory. Small business loans can be especially useful for these types of one-time purchases.

  • Financing marketing campaigns. Marketing can be an overlooked aspect of a small business’s budget. Short-term business loans can help.

  • Meet payroll or hire staff. Taking care of your employees is a vital aspect of any small business operation.

Are we a match? Check our minimum requirements.**

1 Year

in business


personal FICO® score


business annual revenue


checking account

Small business loans that move at your speed.

Step 1. Complete the application.

Our streamlined loan application is designed to be completed in just minutes.

Step 2. Get a decision.

Work with an expert loan advisor to choose the best option for you.

Step 3. Receive your funds.

Sign your contract and get working capital funds in your bank account as soon as the same business day.

Learn more about short-term business loans.

Short-term business loans can be found primarily at banks, online lenders or the U.S. Small Business Administration (SBA). SBA loans are government-backed loans that are issued by a lender — most commonly a bank. Those loans, along with any small business loan from a bank, can be notoriously difficult to receive approval for. Online lenders, such as OnDeck, are an option for small business owners looking for a faster and easier application process.

Short-term small business loans can help a business in many ways. Some of the most common include urgent expenses such as invoices, equipment or inventory. Filling in seasonal cash flow gaps, covering payroll and hiring staff are other ways short-term business financing can be used.

When it comes to interest rates, short-term financing will generally have higher interest rates than comparable financing with longer repayment terms. However, because longer-term loans are repaid over more time, the total amount of interest paid can be higher.

A short-term business loan is just that — a business term loan with a short repayment period. When used for business lending, short-term business loans are commonly referred to as small business loans or term loans. When used for personal lending, “installment loan” is a common way of referring to a term loan, because it is repaid in installments. So it can be said that term loans and installment loans refer to the same thing, but may be called something different depending on the loan’s customer and purpose.

All business lenders will do some kind of credit check prior to making a lending decision, but this question typically refers to whether the credit pull is a “hard” credit pull or “soft” credit pull. A soft inquiry won’t affect your credit score, so therefore would have no credit impact. OnDeck always does 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.

OnDeck doesn’t offer “bad credit loans.” However, a lower credit score doesn’t always mean you can’t qualify for business financing. Our short-term business loans can provide an alternative source of funding for small business owners who have had difficulty getting approved for a business credit card or traditional small business loan from a bank.

All lenders have requirements for applicants to meet to qualify for short-term business loans. These commonly include your time in business, annual revenue and personal or business credit score. These factors will help to determine details such as the loan amount, repayment terms and interest rate. For more information on business loan requirements, check out our blog post Business Loan Requirements.

Same Day Funding is only available in certain states, for term loans up to $100K. Eligibility window is Monday-Friday before 10:30am EST. If checkout is done before 10:30am EST, funds will be available by 5pm local time the same day. If checkout is done after 10:30am EST, 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. Eligibility rules around creditworthiness and length of term loan apply.

*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, the 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.

**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.

§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 lines of credit is 48.9% APR. Averages are based on loans originated in the half-year ending March 31, 2022.

1Origination Fee reductions on renewal loans are not applicable to customers that have a 24-month term loan.