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OnDeck

OnDeck
Overall Satisfaction Rating 4.21/5
  • 5 stars
    40
  • 4 stars
    0
  • 3 stars
    0
  • 2 stars
    1
  • 1 stars
    8
Based on 49 ratings submitted in the last year

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    OnDeck Reviews

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    Page 1 Reviews 0 - 10
    Rated with 5 stars
    Verified Reviewer
    Original review: May 27, 2020

    I was referred to OnDeck by my payroll company Gusto. The purpose was to apply for a PPP loan. The process was easy to understand, mostly automated, and went very smoothly. Once I had submitted my documents, I was contacted shortly thereafter by a representative from OnDeck who helped me with the agreements and closing details. I had been a little concerned because I had accidentally put the wrong number of employees in the online application, but this was readily corrected when I let the representative know.

    I was very pleased and rather surprised that the whole thing only took about a week, from the time I started the application until the time that the PPP loan was in my bank account. I have a friend who went through a similar process for his PPP loan with another bank and his process took several weeks. I am very happy to fully recommend OnDeck.

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    Rated with 5 stars
    Verified Reviewer
    Original review: May 16, 2020

    I applied for the PPP Loan in April, 2020 with On Deck. COVID-19 has had a immense financial impact on all small businesses, and mine is no exception. After applying and within a few hours, Jose contacted me to introduce himself and request some documentation. For the last 3 weeks, Jose has contacted me on a daily basis to ensure my loan was processing correctly. He kept me updated, and throughout all of my concerns, he always reassured me that he was steadily working on my account. Jose relentlessly worked for my loan account. There were a few minor glitches that needed correction, and every time underwriting would request further documentation, Jose would reach out and have it submitted immediately after I sent it. He was understanding of small business owners, and I appreciated that he could sympathize with the owners who did not have loan documents readily available - as we did not anticipate this pandemic.

    I am a business owner that has never relied on any loans. I built a business from scratch, and put my heart and soul into this business. The financial impact on many small businesses has been irreversible. Without the dedication of one motivated loan specialist, my business would have had to file bankruptcy or liquidate. I have had various experiences with mortgage brokers and loan specialist for investment properties, and by far, Jose is one of, if not, THE top loan specialist I have ever had the pleasure of conducting business with.

    When applying for a loan, it is the specialist that you are assigned that creates the business for the company. It is the personality, dedication, timely responses, and guidance that make an experience. One specialist can building portfolios for themselves and their company. They are the voice of the company, and Jose definitely gained a lifetime customer here with endless referrals. Thanks again On Deck!

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      Rated with 5 stars
      Verified Reviewer
      Original review: May 2, 2020

      I have had loans thru On Deck … everything went rest with Adam. They contacted me to help me with PPP submission … I decided to use them since Wells Fargo is awful and doesn't care about small business. Jose from On Deck was assigned my account and was FANTASTIC!!!! He made sure all my paperwork was in order before the 2nd submission date of Monday 4-27 2020. I was submitted … and approved by Tuesday night … and signed papers by end of week. Jose guided me thru the whole process and was patient with my several calls. I have nothing but Top praise for Jose and On Deck. They saved my business with this PPP Loan! THANK YOU!!!

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      Rated with 5 stars
      Verified Reviewer
      Original review: Feb. 3, 2020

      Anthony ** was professional, courteous, and always available to answer questions or concerns. He had great follow-through, via both email and phone. In fact, it was Anthony's diligent and timely follow-up today, and his patiently explaining again how the OnDeck line-of-credit works that actually convinced us to use OnDeck for a new line of credit for our company. He also made some great suggestions on how we could use the OnDeck Line-of-Credit to benefit our business and build our business's credit history. Not only is Anthony a pleasure to work with and thorough (he was quick to send us an email he had promised, right after we got off the phone), he is also committed to doing the best for the client and his organization, which is a rare quality today. I would be happy to work with Anthony again!

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      Rated with 5 stars
      Verified Reviewer
      Original review: Nov. 24, 2019

      We have secured financing twice with On Deck. It was the easiest and quickest approval process. The terms were flexible to fit our budget. After we paid down our loan 50% they told us we were eligible to refinance our loan and they would take the interest off our first loan and lower the fees associated with second loan. We were given 3 different loan amounts to choose from and funds were delivered to our operating account by midday of the very next business day. All that was required was 3 months business bank statements and our most recent tax return and we were approved within 24 hours. We will definitely use them again if and when the need arises.

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      Rated with 1 star
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      Verified Reviewer
      Original review: June 17, 2020

      This company is a ripped off. They try to get all the interest when you sign up for a loan. Because when you want to early pay off they already got all the high rate interest. You just have a very little deductible interest left.

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      Rated with 5 stars
      profile pic of the author
      Verified Reviewer
      Original review: June 9, 2020

      Excellent Company especially our account manager Anastasia **. She is very hands-on with her clients and very knowledgeable. She returns your call, answers all your questions and gives you the best customer service than anyone could ask for. Any companies searching for business loans I would definitely recommend OnDeck to other businesses.

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      Rated with 5 stars
      Verified Reviewer
      Original review: June 2, 2020

      The whole process took about 2 weeks. Johnny was an excellent loan specialist, that moved quickly to assist me with obtaining the funds my small business needed. I was very pleased to see their responsiveness during a time of a pandemic. I highly recommend them.

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      Rated with 5 stars
      Verified Reviewer
      Original review: May 27, 2020

      I can only say great things of them, Scott ** was great, he called me several times to solve all the problems and today my PPP laon got approved. I tried other lending service and they were not close to Ondeck for service and speed.... If you will come across Scott ** you will be very lucky, he is great.

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      Rated with 5 stars
      Verified Reviewer
      Original review: May 27, 2020

      My Payroll company Gusto recommended OnDeck as specialist in PPP loans. Gathering all the documents for this loan was a very tedious process. I was very nervous about making a mistake and then not being eligible for the loan. It was such a help to be assigned to Anthony ** as loan specialist. He looked over everything carefully and made sure all was in place. Once he was assigned to me, the process went very fast and smoothly. If I needed to provide anything in addition, I was send a secure way to upload the documents. I'm forever grateful to having made the decision to go with OnDeck and recommend them highly.

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      OnDeck author review by Barbara Friedberg

      OnDeck was founded in 2007 and is a publically traded company. It’s headquartered in New York City. Since it began, the company has provided over $4 billion in capital to small businesses. They base their application approval on both a business’ gross revenue and the owner’s credit history.

      • Scalable: OnDeck offers small business loans in amounts from $5,000-$500,000 and lines of credit from $6,000-$100,000. The scalable size of loans and lines of credit allows clients to only take out and pay interest on the amount of money they need.

      • Extended hours: Loan specialists are available to help interested consumers and clients during extended business hours. They can be reached by phone or instant messaging between 8 a.m. and 8 p.m. six days a week.

      • Single application: When business owners submit an application to OnDeck, the lender determines which type of loan will best suit the business. This means that by filling out a single application the business owner applies for every type of financing OnDeck offers. This policy makes the application process simple and allows business owners to get advice about which funding option is the best choice.

      • FAQs: The FAQ section of OnDeck’s website offers detailed answers to many questions interested customers might have. They can learn about exactly which documents they will need to have when applying, minimum qualifications for financing and typical rates and fees.

      • Returning customer rates: Previous OnDeck customers qualify for a lower origination fee when they receive a second loan. After a business’ third loan, they may not pay any origination fee.

      by Barbara Friedberg Personal Finance Contributing Editor

      Barbara Friedberg, MBA, MS is a former investment portfolio manager with decades of financial experience. Friedberg taught Finance and Investments at several universities. Her work has been featured in U.S. News & World Report, Investopedia, Yahoo!Finance and many more publications.

      OnDeck Company Information

      Company Name:
      OnDeck
      Year Founded:
      2007
      Address:
      1400 Broadway
      City:
      New York
      State/Province:
      NY
      Postal Code:
      10018
      Country:
      United States
      Phone:
      (888) 269-4246
      Website:
      www.ondeck.com