On Deck

Loan Types: Small Business Loans, Line of Credit


Securities: Unsecured Business Loans

Loan amount: $5,000-$500,000 (Line of Credit up to $100,000)

Interest: As low as 9% Annualized

Overall Rating

Top Lender

Approval within an hour
Average Rating 9.5 in TrustPilot
All USA Small Businesses

About OnDeck

OnDeck is an international leader in small business loans with ultra fair conditions and a very fast turnaround. The company is traded publicly on the NYSE with revenues of almost 300m per annum, and offices all across the USA, as well as international offices in Australia. In the world of small business lenders in the USA, no one is bigger and better than OnDeck and there are hardly any non-bank lenders globally which boast an operation as vast as theirs. The company employs 500 people just in the USA.

Personal dashboard

Personal dashboard

The company offers a super professional personal dashboard which is quick, smooth, and easy to use.

24/7 around the clock

24/7 around the clock

OnDeck offers very high quality of support 24/7, together with a very clear term sheet for financing that enables clients to know exactly what they commit to.

Trusted lender

Trusted lender

You will be borrowing money from an above-board lender with very strong reputation and recognition which has been rated 9.8d/10 by customers.

The Good and the Bad

Fast Application. OnDeck offers a very smooth and easy application process which takes as little as 10 minutes of your time.

Good rates. The market is filled with short and medium term lenders who offer the same solutions as OnDeck but OnDeck is plainly cheaper with interests rates starting at 9% per year.

Secure, safe and simple. Unlike dealing with small-time lenders, OnDeck is a pleasure to engage in business with. The process is streamlined, the staff is professional, the terms of the loans are clear and easy to comprehend even for first timers.

OnDeck's minimal interest rates are still more expensive than bank loans in most cases.

Which type of companies do they apply to?

This OnDeck review is essentially for any small business owner in the USA who is in need of quick financing. OnDeck have one of the most flexible solutions other there ranging from term loans to a line of credit with amounts as low as $5,000 to as much as $5m (more than any other lender covered by BusinessLoanCompanies to date). In fact, OnDeck is being used by larger corporations which require cashflow injections and by small businesses requiring an immediate loan (whether working capital or equipment financing). The prospective business owner can take a loan for 1 week, or one year, with no early repayments fines!
While the above may not sound like much, we can honestly say that OnDeck offers the most complete solution right now in the market for small business loans, in the USA, and globally! The online lending market for SMEs is still at its early stages, and OnDeck is just above the curve.

Are bad credit businesses accepted?

There are clear instructions on the minimum requirements to apply for a loan with OnDeck on this OnDeck review and on OnDeck’s website ondeck.com, where it is explicitly mentioned one of the initial requirements is a fair FICO (500 or 600, depending on which loan you want). Based on that we can say that, no, bad credit businesses are unfortunately not in a position to borrow funds from OnDeck.

Early repayments

Is OnDeck Trustworthy?

Yes. OnDeck is one of the largest and most recognizable lenders in the small business loans space, which has been operating since 2006! It is truly a pioneer in this field and the company’s real passion for assisting small businesses shows. Not only thousands of clients have showed their appreciation to OnDeck by marking them as 5 stars on TrustPilot and similar platforms, the media has shown a great deal of interest as well.
OnDeck business loans has received gold awards in the American Business Awards, it has been listed in the SmartCEO top 50 list, and has been extensively written about in every major media publication in the world. The company’s Forbes listing mentions it is one of the most promising companies in America today.

TrustPilot score of 9.8 / 10 puts OnDeck in a very good position. It is no doubt the lender with the biggest number of client reviews on TrustPilot’s platform, and it has the highest score of them all! In fact, we would dare say that OnDeck is one of the best-ranked financial institution or Fintech companies, globally. Businesses who used TrustPilot have complimented OnDeck in every possible way: they like the staff, they life the software being used, they like the rates and most importantly they consider OnDeck a business partner of theirs rather than a lender.

Bottom Line

To summarize, OnDeck is a massive player in the online lending space, perhaps top 3 biggest online lender worldwide. The company has grown steadily and significantly over the past 12 years and is still growing, with incredible feedback from businesses which used it and an ever-decreasing interest rate. Hence, there is absolutely no reason to try to submit a loan application to OnDeck and consider it as one of the primary options for small business loans in the USA.

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