Every business is different so OnDeck offers flexible short term loans that match your individual needs.

Loan amounts from

Term lengths from
3 to 36 months

Daily or weekly

Key Benefits

Same Day Funding: get funds in your business checking account as soon as the same day you finalize your loan*

Loyalty Benefits: for returning customers who renew with OnDeck, we waive all remaining interest on your current loan

100% Prepayment Benefit: if you qualify for this option, you can pay your loan off early and all remaining interest is waived with no penalty or fee*

Business Credit Building: We report payments to bureaus so that your on-time payments help build business credit

What can I use a short term loan for?

A short term loan can allow you to take advantage of opportunities quickly and easily. Short term loans are a great option when you need a short-term infusion of funds for a specific project and purchases to drive your business forward. If you think you could benefit from business financing, there are several questions you can ask to make that decision easier to get the right short term loan for your business. The most important question to ask is “What is the loan purpose?” Based on your answer to this question you may decide a short term loan will work for you. There are hundreds of reasons a short term loan is the right choice for your business – here are four popular reasons business owners opt to apply for a short-term loan.

4 ways to use a short term loan

1.    Project start-up costs: new projects often have upfront costs that exceed your regular cash flow.

2.   Bridging a seasonal cash flow gap: Some seasonal businesses have lulls between busy seasons and use term loans to meet short-lived cash flow demands.

3.   Purchasing quick-turnaround inventory at a discount: If an opportunity presents itself to buy discounted inventory, you don’t have to miss out on additional profits.

4.   Emergency repairs of critical equipment: When equipment breaks down you don’t have the luxury to stop and save up money to make the repair.

Do I qualify for a short term loan with OnDeck?


Applying for a short term loan at OnDeck is quick and simple


Apply Online

or call us at (888) 269-4246

1 Complete the application
Takes less than 10 minutes
Just provide us a few pieces of information—online or on the phone, it’s your choice

2 Review your options
Ready in as fast as one business day
Your dedicated loan advisor will reach out and work with you to choose the best offer

3 Get your funds
Available as soon as same day
Complete the online checkout and the money is in your business bank account within 24 hours

Frequently asked questions about OnDeck’s short term loans

What is Same Day Funding*?
Same day funding is as simple as it sounds. It allows you to receive funds in your account as early as the day you finalize your term loan with OnDeck. There’s no special enrollment and no additional cost.

Can I get a line of credit in addition to my term loan?
We understand a business short term loan and a business line of credit can serve two very different purposes. At OnDeck you can easily apply for a line of credit in addition to your existing term loan or in many cases you can start them at the same time.

What is the SmartBox™?
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.

How do loyalty benefits work?
We believe in rewarding you for your loyalty, and making it easy to access additional funding. Once your initial or current loan is 50% paid down you have the option to apply to renew your loan and you will not be charged any remaining interest on your existing loan. You may even qualify for a lower or 0% origination fee.

How does payback work?
Paying back your term loan with OnDeck is easy and hassle-free with automatic bank deductions so you don’t have to worry about missing a payment. The daily or weekly payment is based on the amount and term length of your financing and is intended to be a manageable number based on the information you provided to OnDeck in your application.

How much will it cost? Interest rates start at 11.9% annual percentage rate (APR). The total cost of your short term loan will vary based on a number of factors, including your personal and business credit scores, time in business and annual revenue and cash flow*.

Here’s what business owners like you have to say in real-time

*Eligibility window for Same Day Funding is 7pm previous day up to 10:30am ET day-of. Eligibility rules for Prepayment Benefit around creditworthiness and length of term loan apply. Saving money on outstanding interest is only applicable if a loan is prepaid in full before the end of your payment period. Term loans including the Prepayment Benefit option will have a higher interest rate, and may increase the total cost of the loan. Annual percentage rate (APR) is the interest rate in annualized terms, including fees. 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 weighted average rate for term loans is 49.06% APR. Weighted averages are based on loans originated in the quarter ending December 31, 2019.