OnDeck is a U.S.-based online lender founded in 2006 and now operating under Enova International. It specializes in small business financing and offers two primary products: term loans and business lines of credit. Term loans range from $5,000 to $250,000 and have repayment options up to 24 months, while lines of credit extend up to $200,000 on revolving 12-month terms.
The application process is digital and streamlined, allowing qualification without a hard credit pull, and funds may be available as soon as the same day. OnDeck reports to business credit bureaus, helping businesses build their credit profiles. It also includes loyalty incentives; repeat borrowers may benefit from reduced rates, waived origination fees, or even waived interest on outstanding balances when refinancing.
While OnDeck is known for speed and flexibility, it generally carries higher APRs and requires frequent repayment schedules. Still, its ease of access and supportive service make it a notable alternative to traditional business lenders.
OnDeck offers tailored financial products for small business needs:
These features prioritize speed, flexibility, and transparency for growing businesses.
Applying for a loan with OnDeck is quick and user-friendly:
OnDeck structures repayment to support business planning and automation:
Repayments are automated to avoid late fees and improve predictability. OnDeck also reports to credit bureaus, helping businesses build credit.
OnDeck provides responsive, U.S.-based support through multiple channels:
The company holds an A+ rating from the Better Business Bureau and offers personalized assistance from loan advisors throughout the application process.
OnDeck stands out for offering fast funding, clear pricing, and borrower-friendly policies. Businesses with steady cash flow and modest credit profiles benefit from streamlined approval, loyalty perks, and access to credit-building tools.