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Businsess Loans > Lender Reviews > OnDeck Australia
OnDeck is dedicated to helping small businesses secure the funding they need to thrive. Launched in Australia in 2015, OnDeck aims to tackle a significant challenge faced by small enterprises: efficient access to capital. Utilizing advanced technology, the platform assesses businesses based on their actual performance rather than relying solely on personal credit scores. This innovative approach allows OnDeck to responsibly broaden access to credit, enabling businesses to focus on their customers and growth instead of spending excessive time searching for loans.
Recognizing that financing can be a daunting task, OnDeck streamlines the process to ensure that business owners can prioritize essential operations such as marketing, accounting, and customer service. With loans available up to $250,000 for over 700 different industries, OnDeck's funding solutions are designed to support business growth.
OnDeck offers flexible terms and competitive rates based on the performance of the business, distinguishing it from traditional bank loans that often depend heavily on personal credit history. The platform provides prompt responses to loan applications, evaluating businesses through a variety of critical performance metrics. If approved, funds can be disbursed in as little as one business day.
Since its inception, OnDeck Group has issued over US$13 billion in loans across the US, Canada, and Australia for various business needs, including inventory purchases, equipment acquisition, hiring, and general operational costs. Trusted by more than 110,000 small businesses, OnDeck continues to empower entrepreneurs in building thriving enterprises.
Does your business qualify?
- Minimum 1 year in business
- Minimum $100,000 gross annual turnover
- No bankruptcy (prior or recent)
- Minimum 500 business credit score