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OnDeck Review 2019
Score 4.9Loan Period
3-36 monthsLoan Range
$5,000 - $500,000Pros
- Business loans up to $500k + Lines of Credit up to $100k
- Funds in as fast as 24 hours
- Applying will not impact your personal credit score
Cons
- Not for start-ups
- No personal loans
- Need to be in business 1+ years
Bottom Line
If you’re looking for a fast way to get a business loan from a reputable lender, then OnDeck could be the right solution for you.
Check if you Qualify for a OnDeck loan
See if I qualify
Who are OnDeck?
Who is OnDeck?
Launched in 2007, OnDeck has provided over US$12 billion in funding to over 100,000 businesses in the US, Australia, and Canada. The company bases its loan approvals on company cash-flow, not just on credit score. OnDeck has an A+ rating from the Better Business Bureau and a 4.9 out of 5 customer rating on Trustpilot.
What We Like Best
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Two flexible financing products
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Up to $500,000 in funding
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Quick & easy process
Which services does OnDeck offer?
Type of Loan - Term business loan
- Repayment Terms - 3-36 months
- Amount: $5,000- $500,000
- Rates: Competitive - exact cost varies from business to business
Type of Loan - Line of credit
- Repayment Terms - Varies
- Amount: $6,000- $100,000
- Rates: Competitive - exact cost varies from business to business
What do you need to apply?
To apply for business funding through OnDeck you need a Business Tax ID (EIN) and three months of business bank statements.
The minimum requirements to receive funding are:
- 1 year in business
- 600 personal FICO score
- $100K annual business revenue
- Business bank account
How does the application process work?
The OnDeck application is online and can take just a few minutes to complete. You'll need to provide business information and contact details. You'll also be asked to provide bank statements and any other required documentation pertaining to your business. Customer service representatives are available to assist you throughout the process.
Is OnDeck trustworthy?
OnDeck has an A+ rating from the Better Business Bureau and a Truste certified privacy policy. All your personal data is securely encrypted and protected at all times. The customer is trusted by over 100,000 business owners and has a customer rating of 4.9 out of 5 on Trustpilot.
Customer support
If you’re looking for a fast way to get a business loan from a reputable lender, then OnDeck could be the right solution for you.
Customer support
OnDeck has a knowledgeable and helpful customer support team that is reachable both online via email and via phone for assistance.
Final verdict
If you're looking for fast business funding with flexible terms and amounts, OnDeck has two funding products that can meet your business needs,
Please note that all information provided in this review is accurate at the time of publication and is subject to change. The information contained in this review is provided for informational purposes only, should not be construed as legal advice on any subject matter and should not be relied upon as such. The reviewer accepts no responsibility for any consequences whatsoever arising from the use of such information.
