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OnDeck

Direct Lender

Fast business funding with clear requirements—but it is expensive money.

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Reviewed August 2026
FundingRank take

OnDeck is worth considering when speed matters and cheaper bank financing is not realistic. The application is straightforward and funding can be very fast, but the cost is high and frequent payments can squeeze cash flow.

At a GlanceCheck Your SituationGood Fit?ProductsBefore You ApplyWhat Happens NextAlternativesFAQs
The basics

At a Glance

Funding
$5K–$400K
Credit score
625+
Time in business
1 year
Annual revenue
$100K/yr
Funding speed
Same day for eligible borrowers; otherwise typically 2–3 business days
Repayment
Daily or weekly (term loan) / Weekly or monthly (line of credit)
CHECK YOUR SITUATION

Does This Product Clearly Fit the Published Minimums?

Checks published minimums only. It is not an approval estimate.

Enter what you know to check the published requirements.Provider requirements can change and meeting minimums does not guarantee approval.
Fit

Is OnDeck a Good Fit?

Focus on whether the tradeoffs fit your business.

Worth a Look If…

Fast funding, including same-day funding for some borrowers.
Clear published minimums: 625 credit score, one year in business and $100K annual revenue.
You can check eligibility without hurting your personal credit score.
Offers both term loans and a reusable line of credit.
Reports payments to business credit bureaus.

Think Twice If…

Borrowing costs are high compared with banks and SBA loans.
Term loans may require daily or weekly payments.
Repayment terms are short, which can make payments large.
Paying a term loan off early may not erase all remaining interest.
Not available in every state or industry.
Money

What It Offers

The line of credit has no annual, maintenance or draw fee. Term loans can include an origination fee, so check the actual offer rather than assuming the advertised amount is the cash you will receive.

Business Term Loan

Business checking account required. Availability and restricted-industry rules apply.
Amount
$5,000–$400,000
Cost
Average APR 53.2% for loans originated in the half-year ending June 30, 2026; individual pricing varies.
Term
Up to 24 months
Payments
Fixed daily or weekly payments
Fees
Origination fee may apply. Renewal borrowers may qualify for reduced or 0% origination fees depending on history and term.
Speed
Same-day funding for eligible borrowers; otherwise generally 2–3 business days.

Business Line of Credit

Business checking account required. Higher limits depend on stronger underwriting.
Amount
$6,000–$200,000
Cost
Average APR 59.8% for loans originated in the half-year ending June 30, 2026; individual pricing varies.
Term
12, 18 or 24 months
Payments
Weekly or monthly
Fees
No annual fee, monthly fee or draw fee on the current product page; agreement-specific charges can apply.
Speed
Initial funding can be as fast as the same day; qualifying customers can use Instant Funding for some draws.
Qualification

Before You Apply

You generally need at least a 625 personal credit score, one year in business, $100,000 in annual revenue and a business checking account. Meeting those minimums does not guarantee approval.

Typical Requirements

Personal FICO
625 minimum — OnDeck identifies 675+ as an additional criterion that can improve the approval profile.
Time in business
1 year minimum — Two or more years is identified by OnDeck as a stronger profile.
Annual revenue
$100,000 minimum — Verified cash flow and other underwriting factors still matter.
Business bank account
Required — A business checking account is part of OnDeck's published minimum requirements.
How the Application Works
  1. Complete OnDeck's online application with basic owner and business information.
  2. OnDeck performs an initial soft personal-credit inquiry and evaluates business cash flow and underwriting criteria.
  3. A loan advisor discusses eligibility and the product or terms available to the business.
  4. Review the agreement, lender identity, payment frequency, total cost and prepayment provisions before signing.
  5. Eligible borrowers can receive funds as soon as the same business day; otherwise funding is generally within a few business days.
What Documents You May Need
  • Basic owner and business identification information
  • Business checking account information
  • Financial information requested during underwriting; OnDeck may request bank or other business records depending on the application
Credit Check
OnDeck says it uses a soft pull of the business owner's personal credit to determine eligibility, so checking eligibility does not affect the personal credit score.
Paying It Off Early
You can pay early, but the savings depend on your agreement. Some borrowers can have all remaining interest waived; others may still owe part of it.
After Apply

What Happens Next

Review the application handoff, follow-up, and funding timeline.

Where Your Application Goes

You apply directly through OnDeck rather than sending one application to a large lender marketplace. Your loan may ultimately be issued by an OnDeck company or Celtic Bank, but that lender is identified before you sign.

Contact after applying
Not enough reliable information yet
Follow-up
Not enough reliable information yet
Funding timeline
Eligible borrowers can receive same-day funding when checkout is completed before OnDeck's weekday cutoff; otherwise funding is generally within 2–3 business days.
Compare

Other Options Worth Checking

Compare it with another realistic option.

Bluevine
Consider if you primarily want revolving credit and can meet Bluevine's business-type, bank-balance and revenue requirements.
View Review →
Lendio
Consider if comparing a large number of financing products matters more than keeping the application with one provider.
View Review →
Fora Financial
Consider if credit or time in business keeps you outside OnDeck's box and you can tolerate short-term, high-cost funding.
View Review →
Questions

OnDeck FAQs

What is the minimum credit score for OnDeck?
OnDeck publishes a 625 personal FICO minimum. It also identifies 675+ as part of a stronger approval profile.
Does applying hurt personal credit?
OnDeck says its initial eligibility check uses a soft personal-credit pull, which does not affect the score.
How fast can OnDeck fund?
Eligible borrowers who complete checkout before the weekday cutoff can receive same-day funding. Otherwise, OnDeck says funds are generally deposited within two to three business days.
Can I repay an OnDeck loan early?
Yes, but term-loan savings depend on the agreement. Some borrowers qualify to have all remaining interest waived; others may still owe a portion of remaining unpaid interest.
Is OnDeck a marketplace?
No. It is an online lender. Depending on state and loan attributes, the contractual lender can be an OnDeck company or Celtic Bank, which is identified before signing.
Keep Researching

More on OnDeck

Business Lines of Credit
Compare verified line-of-credit products.
Browse Options →
Lower-Credit Options
See products with published minimum scores of 625 or below.
Browse Options →
Fast Funding
Compare products with same- or next-day funding language.
Browse Options →
Have Information We Should Know?

Submit a borrower experience or lender correction for review. Nothing changes automatically.

Research Notes, Methodology, and Sources

Source and scoring details.

Transparency score: 72 / 100 · Moderate

Data safety score: 61 / 100 · Moderate

Support: OnDeck provides U.S.-based loan advisors and separate support for existing borrowers.

Business credit reporting: OnDeck states that it reports repayment activity to business credit bureaus. Consistent on-time repayment can therefore contribute to business credit history.

Availability: Available in most U.S. states but not North Dakota. OnDeck also maintains a restricted-industries list. Only select borrowers with stronger credit and sufficient verified monthly revenue are eligible for the highest term-loan amounts.

Sources
OnDeck Terms of Use ↗ · Consent to contact, Automated calls and messages, SMS opt-out, Electronic communications
OnDeck CCPA/CPRA Request Form ↗ · Access, Deletion, Correction, Sale/share opt-out
OnDeck Privacy Policy ↗ · Personal information collection, Third-party sharing, Marketing choices, California privacy rights
LendingTree OnDeck Review ↗ · Competitive benchmark, Qualification, Alternatives structure
OnDeck Loan Requirements ↗ · Minimum qualifications
Forbes Advisor OnDeck Review ↗ · Competitive benchmark, Fit and mismatch, Application structure
OnDeck Contact ↗ · Support, Application basics
NerdWallet OnDeck Review ↗ · Competitive benchmark, Borrower-oriented review structure
OnDeck Business Term Loan ↗ · Amounts, Terms, Repayment, Prepayment, Average APR, Availability
OnDeck Business Line of Credit ↗ · Line limits, Repayment, Fees, Funding, Credit pull, Business-credit reporting