OnDeck Reviews
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About OnDeck
OnDeck provides term loans and lines of credit for small businesses. Businesses must have been in operation for at least a year with a minimum of $100,000 in annual revenue to qualify. Repayment terms are offered up to 24 months on term loans, and lines of credit are revolving. Loans are available for up to $250,000 and lines of credit up to $100,000. Origination fees and interest rates apply.
- Flexible secured loans
- Multiple repayment terms
- Small business specialty
- Same-day funding
- Restricted industries
- Not available in all states
- High interest rates
Helpful Reviews
Our editor’s take
OnDeck is a good option for business owners in 47 states (not available in North Dakota, South Dakota or Nevada) who’ve been operating for at least a year, have a good personal credit score and are looking for quick loan processing. Loans are available to borrowers in over 700 industries, but there are restrictions so if your business falls in one of those categories, you’ll need to look elsewhere.
Additionally, there are only two loan options, term and business lines of credit, so if you need or prefer a different type of funding, another lender would be a better choice.
OnDeck loan products
OnDeck specializes in small business loans and lines of credit. Same-day funding is available in some states for term loans up to $100,000. OnDeck offers two types of small business loans:
- Line of Credit: Lines of credit range from $6,000 to $100,000. Repayment terms for lines of credit are 12, 18 or 24 months.
- Term Loan: Term loans are a one-time, lump sum payment, with amounts ranging fom $5,000 - $250,000 and repayment terms up to 24 months.
OnDeck loan requirements
To qualify for an OnDeck business loan or line of credit, there are minimum requirements you must meet:
- Minimum of one year in business
- Personal FICO credit score of 625 or higher
- $100,000 or more in annual business revenue
- Business checking account
OnDeck lines of credit are unsecured and term loans are secured. However, OnDeck secured term loans are flexible, meaning there is not a specific amount, type or value of collateral required. You’ll also want to make sure your business is not on the list of industries OnDeck will not work with before applying.
OnDeck rates and fees
OnDeck interest rates will vary based on the business' health and cash flow.
For term loans, OnDeck charges an origination fee of 0% to 4%. If you renew a term loan, you might be eligible for subsequent fee reductions. For OnDeck lines of credit, there is a $20 per month maintenance fee.
How to apply for an OnDeck loan?
To apply for a business loan with OnDeck, you’ll complete an online application. Make sure you include all required information including your business tax identification number, the last three months of business bank statements and your Social Security number. You’ll also need to indicate which type of loan you’re applying for.
The company will then review all your application materials. If approved, funds may be deposited in as little as one day.
How does OnDeck compare?
OnDeck is a good choice for business owners looking for term or business lines of credit with higher limits and longer repayment terms. However, if you’re looking for a shorter-term loan or need less than $5,000, a competitor like PayPal loans might be a better option.
| Features | OnDeck | PayPal |
|---|---|---|
| Repayment Terms | 24 months | 12 months |
| Loan Amounts | $5,000 to $250,000 | $5,000 to $100,000 (up to $150,000 for repeat borrowers) |
| Line of Credit | $6,000 to $100,000 | Not offered |
| Working Capital Loan | Not offered | $1,000 to $150,000 (up to $250,000 for repeat borrowers) |
| Origination Fees | 0% to 4% | Fixed Fee |
OnDeck FAQ
What is OnDeck?
OnDeck is an online small business lender providing lines of credit and term loans to borrowers in 47 states and over 700 industries.
Can I get an OnDeck loan if I have bad credit?
A business owner must have a minimum personal FICO score of 625 to qualify for an OnDeck loan or line of credit.
Does OnDeck offer loans to start-up companies?
OnDeck may lend to newer companies. However, you must have been in business for at least one year to qualify for OnDeck services.
Are there any regulatory issues related to getting a loan from OnDeck?
There are no regulator issues related to loans from OnDeck.
Still have questions?
Is OnDeck legit?
OnDeck is a legitimate loan provider, issuing small business loans and lines of credit to businesses in throughout the United States (excluding North Dakota, South Dakota and Nevada). With multiple repayment terms, you can stretch loan repayment up to 24 months. Revolving lines of credit are available as well.
OnDeck Reviews
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Reviewed April 26, 2026
This company makes it easy and fast. It's very unlikely that you could find any way for a loan to cost you more... I'm frankly surprised it's legal. Nevertheless, when you need it, you need it. It's easy, and the people are very friendly, etc. Pay it back quickly and you will be OK. There is no pre payment penalty.
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Reviewed April 12, 2026
I had wanted a revolving line of credit for my business for a long time. Everyone offered MCA's, but no one would do a true revolving LOC. Ondeck did it with minimal paperwork and they did it within a week. Being able to access cash whenever I need to stabilize cash flows helps my business grow and reduces my stress!
Reviewed April 4, 2026
Morgan ** was very polite, very helpful and very assistive with everything and very pleasant gentlemen to work with. I would be willing to work with him in the future and will always keep him on my phone as a person I can trust and help me with my business.
Reviewed March 24, 2026
Quick and simple process. The team was very knowledgeable, provided great guidance for what I was looking for and didn't oversell anything. I was able to secure more than adequate LOC for my business working capital. This provided me with the added layer of safety and confidence for my day to day operations.
Reviewed March 16, 2026
The product you offer are competitive within your market. I did homework before reaching out and you guys deliver. I recommend your IT department to upgrade your website support. It has a delay and is frustrating at times. It needs to be more friendly for both your end and the consumer for efficiency.
Reviewed May 21, 2026
Biggest mistake getting involved with OnDeck through their affiliates. Getting 5 calls a day, texts, emails. They have your name and company on a list. Using the state of Utah as a way to hide their corrupted practices. Stay away from this company.
Hi Michael, Thank you for reaching out. We understand how frustrating an influx of unsolicited outreach can be, and want to clarify that we do not sell customer information. In some cases, receiving a high volume of calls or texts can happen if an application was submitted through a referral site or broker and shared with multiple lenders, or if funding was received and a public UCC filing was placed, which can make business information more visible.
We'd be happy to look into this further for you if needed. Please contact our dedicated OnDeck Customer Service team at (888) 556-3483
Reviewed May 18, 2026
The lending agent manipulated everything to process the loan. Also, changing the email address and do not allow the person to contact the vice president for consultation. The interest is too high. Radames ask for cancellation the same days. Anyway they proceed it and transfer the fund. The fund was return the next day and now they said that we own $16,000 in interest.
Hi Denny, Thank you for providing this valuable feedback. There are multiple variables that go into why we price the way we do. If you have additional questions, please contact our dedicated OnDeck Customer Service team at (888) 556-3483
Reviewed April 26, 2026
OnDeck has been a reliable partner for my business, providing fast funding and a smooth, straightforward process from start to finish. Their team is responsive, professional, and truly understands the needs of growing businesses. I highly recommend.
Reviewed March 11, 2026
I am ge first of all, I want to say that your customer service team has been really great so has Anthony **. However it is very discouraging that we have yet to receive our funding. We are set up for our very first payment on the 13th and have been told that we may not even have our funding by the 13th due to bank error or whatever that was really part of the underwriter’s fault I, which by the way if her payment is due on the 13th and I still don’t have money by the 13th we do have problems, feel that we need to be making payments to anybody on money that you have to be received.
Right now I can’t say that I’m real thrilled with the company. I can’t seem to get a hold of anybody anymore that I’ve gotten in touch with me. You know prior to and I think the loan date as far as the payment due should be changed and I’d like to know when the money’s going to come through and if next week or sometime, we have to talk because this is just not what I signed up for.
Hi Steve, We’re sorry to hear about your funding experience, and want to thank you for providing this valuable feedback. Our dedicated OnDeck Customer Service team will get in touch with you to go over the details regarding your account. In the meantime, you can also call us at (888) 556-3483.
Reviewed March 9, 2026
The experience was very professional and efficient. I would rate it as excellent. The financials required were very reasonable and fairly easy to generate the follow-up after the funding was very much appreciated and certainly not required.
OnDeck Company Information
- Company Name:
- OnDeck
- Year Founded:
- 2007
- Address:
- 1400 Broadway
- City:
- New York
- State/Province:
- NY
- Postal Code:
- 10018
- Country:
- United States
- Website:
- www.ondeck.com
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