OnDeck Card Terms & Conditions

Terms of Use

Updated and effective December 07, 2022

1. OnDeck Terms and Conditions

The OnDeck Services and websites (each as defined below) are operated by On Deck Capital, Inc., its subsidiaries and affiliates operating under the OnDeck brand and its service providers (collectively, “OnDeck”, “we”, or “us”). OnDeck is in the business of providing customers with commercial credit products and related services (“Services”). OnDeck is not a broker, investment advisor or financial planner, and we do not provide financial, securities, legal or tax advice. Before making any decision or implementing any strategy you should consider obtaining additional information and advice from your accountant, attorney, and/or other advisors. “You” is defined as the owner of the company completing the application on behalf of the company seeking credit. Unless otherwise noted, any agreements, authorizations or consents made by you or permissions granted to you hereunder also apply and are binding on your company seeking credit directly from OnDeck, or from a bank that originates credit through one of the OnDeck platforms (“OnDeck Banking Partner”).

2. Accepting the Terms

By using the information, tools, features and functionality located at ondeck.com or card.ondeck.com or any of their subdomains (the “Websites”) or by submitting an application for credit to OnDeck or an OnDeck Banking Partner, you signify that you have read, understand and agree to be bound by these terms and conditions (the “Agreement”) for any and all applications for credit to OnDeck or an OnDeck Banking Partner. You further agree all information being provided by your company as the borrower and/or by you (either as a guarantor or as an authorized representative of your company) as part of the application process for credit is true and complete.

You may not use the Services and you may not accept this Agreement if you are under 18 years of age. You represent that you have the capacity to bind the company or entity applying for credit, on behalf of such company or entity. You understand that, other than with regard to loans under the SBA Paycheck Protection Program (“PPP loans”), (a) we will require you to sign a personal guarantee for the credit obtained by your company from OnDeck or an OnDeck Banking Partner, and (b) for term loans, we will take a general lien on your business’s assets. Before you continue, you should print or save a copy of this Agreement for your records.

In addition to this Agreement you and your company may enter into other agreements, including a loan agreement or promissory note that will govern the terms of your credit and use of the Services. If there is a conflict between this Agreement and such other agreements that is applicable to specific aspects of the Services, the other agreement shall govern with respect to those specific aspects.

OnDeck may make changes to this Agreement from time to time. If we do this, the date at the top of this page indicates when the latest revisions were made. Your continued use of the Services or the Websites will constitute acceptance of such revisions.

3. Credit and Background Check Authorization

You understand and agree that OnDeck or an OnDeck Banking Partner and their agents and assignees are authorized to contact third parties to conduct background checks and other investigative reports, including but not limited to your business credit card sales data as described below, and make credit report inquiries (including requesting personal credit bureau reports about you and any other owner(s) of the business who will be providing a personal guarantee, and business credit bureaus about your company, in either case, from credit reporting agencies and other sources) or for any other lawful purpose. OnDeck or an OnDeck Banking Partner has such authority for the foregoing in connection with any extension of credit to the company on whose behalf you are applying, conducting credit file updates, ongoing credit reviews, renewal of financing, or referral of your business to third party lenders. Upon your written request, we will advise you if we obtained a credit report. You understand and agree that OnDeck or an OnDeck Banking Partner is making no commitment or guarantee that any product, evaluation, or guidance provided by OnDeck or an OnDeck Banking Partner will result in an approval of credit from OnDeck or any OnDeck Banking Partner.

4. Privacy, Personal and Company Information

For information about OnDeck’s data protection practices, please read our Privacy Policy, which can be accessed on the Websites, as modified from time to time, which is hereby incorporated into this Agreement. The Privacy Policy explains how OnDeck collects, uses and shares your personal and company information, and protects your privacy, when you access our Websites and use the Services. The policy may be updated from time to time at our discretion. Changes will be effective upon posting to the Websites.

5. Identity Verification

To help the government fight the funding of terrorism and money laundering activities, federal law requires financial institutions to obtain, verify, and record identifying information that identifies each person and entity applying for credit. Therefore, when your company applies for credit, we ask for your name, address, and other information that allows us to identify you and your company. We may also ask for a driver’s license or other identifying documents. You allow us to obtain such information and share the information with third parties to help us verify you and your company’s identity.

In connection with the provision of the Services, users may submit financial information from their business banking account(s) to OnDeck. OnDeck and OnDeck Banking Partners use this information for lending decisions and may require updates to monitor the performance of customers on an ongoing basis. With the Services, users may direct OnDeck to retrieve your company information maintained online or otherwise by third-party financial institutions or organizations authorized to house such information.

6. Proprietary Rights

All content on the Websites or used by the Services, including but not limited to text, names, designs, pictures, information and software are the proprietary property of OnDeck with all rights reserved.

You are permitted to use content delivered to you through the Services or Websites only on the Services. You may not copy, reproduce, modify, distribute, or create derivative works from this content. Further, you agree not to reverse engineer or reverse compile any of the Services technology.

7. Electronic Communications

You hereby consent to receive by electronic means, (or in writing through postal mail or email), this Agreement, communications, disclosures and notices, including and any and all disclosures and/or notices required to be given by applicable law or regulation. You also consent to allow OnDeck, or an OnDeck Banking Partner, to respond to any inquiries by e-mail, at the email address you have provided, regardless of the format of the original inquiry. You must also agree to our E-Sign consent during the online application process.

8. Telephone Communications

You authorize OnDeck or an OnDeck Banking Partner and those acting on their behalf to deliver or cause to be delivered advertisements or telemarketing messages, including calls, text messages, and SMS and MMS messages, using an automatic telephone dialing system (often referred to as an autodialer) or an artificial or prerecorded voice, to the telephone numbers you have provided in your application for credit to OnDeck or an OnDeck Banking Partner (including your cellular phone numbers). You agree that this consent applies even if the numbers you have provided are currently on any state, federal, or corporate Do-Not-Call registry. You understand that you are not required to provide this consent as a condition of receiving any credit or services from OnDeck, and that you may apply for business credit by contacting us directly. You may opt out of receiving calls and marketing from OnDeck, its affiliates, an OnDeck Banking Partner, and their marketing partners, agents and others as provided in the Privacy Policy or by contacting us directly.

9. Loan Return Policy

You agree that you may not return any loan or other financial product that you take from OnDeck, or an OnDeck Banking Partner, except at OnDeck’s or the OnDeck Banking Partner’s sole discretion, it being understood that in no event will you be able to return any such product after 5:00 p.m. EST on the second business day following the initiation of disbursement of funds by OnDeck or an OnDeck Banking Partner, and no returns of renewal loans, credit cards or lines of credit will be permitted.

10. Third Party Sites or Content

The Websites or other materials sent to you under the Services may contain links to other Websites (“Third Party Sites”), as well as content from third parties. OnDeck is not responsible for such Third Party Sites or content from third parties, including without limitation accuracy, reliability, offensiveness, or appropriateness. If you decide to leave the Websites and access Third Party Sites or third party content, this Agreement and OnDeck policies no longer apply.

In addition, if any such link is to another capital provider or lender, OnDeck acts solely as a referrer and does not guarantee or underwrite the products or services, including credit products, provided by such capital provider or lender. You will be deemed a customer of that capital provider or lender with respect to any products or services provided by such capital provider or lender. OnDeck has no role in, nor any liability for any decision made or product or service provided by such other capital provider or lender.

11. Miscellaneous

Limitation on Liability

TO THE EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL WE OR OUR DIRECTORS, EMPLOYEES OR AGENTS OR ANY ONDECK BANKING PARTNER BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY DIRECT, INDIRECT, CONSEQUENTIAL, EXEMPLARY, INCIDENTAL, SPECIAL OR PUNITIVE DAMAGES, INCLUDING FOR ANY LOST PROFITS OR LOST DATA, ARISING FROM YOUR USE OF THE WEBSITES OR THE SERVICES, INCLUDING THE UNAVAILABILITY OF THE SERVICES FOR ANY REASON, OR ANY SYSTEM FAILURE OR MALFUNCTION ASSOCIATED WITH THE SERVICES, AND INCLUDING ANY THIRD PARTY CLAIMS, WHETHER BASED ON THEORIES OF BREACH OF CONTRACT, TORT, PRODUCT LIABILITY, OR BREACH OF WARRANTY. THESE LIMITATIONS OF LIABILITY WILL APPLY EVEN IF WE ARE ADVISED ON THE POSSIBILITY OF SUCH DAMAGES OR CLAIMS. THE PARTIES UNDERSTAND THAT THE SERVICES BY US WOULD NOT BE PROVIDED WITHOUT SUCH LIMITATIONS.

Warranty

WE DISCLAIM ANY WARRANTY OF MERCHANT LIABILITY OR FITNESS FOR A PARTICULAR PURPOSE, ANY LIABILITY FOR ERRORS OR OMISSIONS IN ANY INFORMATION PROVIDED AS PART OF THE SERVICES OR ON THE WEBSITES AND ANY WARRANTIES REGARDING THE OPERABILITY OF THE SERVICES OR LIABILITY FOR ANY SERVICE INTERRUPTIONS OR SYSTEM FAILURES THAT MAY AFFECT THE SERVICES AT ANY TIME.

Governing Law; Venue and Jurisdiction

By accessing the Websites or using Services, you agree that the laws of the state of Utah (or the home state of the OnDeck Banking Partner), without regard to any principles of conflict of laws that would require or permit the application of laws of any other jurisdiction, will govern this Agreement or your use of the Services.

For Ohio applicants: You understand that the Ohio laws against discrimination require that all creditors make credit equally available to all credit worthy customers, and that credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio Civil Rights Commission administers compliance with this law.