OnDeck Business Loans Review 2021


OnDeck is an online small-business lender offering term loans lines of credit. It has served about 100,000 small businesses with $10 billion in loans, the company says.

  • Both term loans lines of credit are available.
  • Borrowers with FICO credit scores of 600 or higher may be approved.
  • Loans from $5,000 to $500,000 are available.

  • Businesses must have at least $100,000 in minimum annual revenue to qualify.
  • Prequalification is not available.

Term loans lines of credit are available with OnDeck.

Term loans up to $500,000 lines of credit of up to $100,000 are available. Loan terms range from three months to three years with both fixed variable APRs. There is no origination fee for lines of credit, but first term loans have an origination fee of 2.5% to 4%.

OnDeck requires a FICO credit score of 600 or higher, so borrowers with fair credit may be approved. Businesses must have been operating for one year have a minimum annual revenue of $100,000. A personal guarantee is required.

OnDeck has an estimated approval time of less than 24 hours once all information is submitted. Disbursement is typically available within two business days.

OnDeck has an A+ rating with the Better Business Bureau an excellent rating with Trustpilot.

  • Businesses that want to choose between a term loan line of credit
  • Businesses that want up to three years to pay off loans
  • Businesses with at least one year in operation $100,000 in annual revenue



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