Details

OnDeck – Intermediate Term Loans Based On Business Health Instead Of Credit History

If your credit isn’t the best but your business has great operations, OnDeck can be a great financing option. They have terms loans with limits up to $500,000 and lines of credit up to $100,000. The application process and easy, fast and you’ll have a decision within minutes. Once approved, funds are deposited into your account within 24 hours.

Additional Details

Cost
As low as 5.99% APR; Average 30% APR

Repayment Terms
3-36 months with daily or weekly payments.

Funding Amount
$5,000 – $500,000

Origination Fee
2.5% for first, 1.25% for the second, none for all after.

Funding Speed
As fast as 1 day

Recommended Requirements to Know

Personal Credit Score
600 or higher

Annual Revenue
Above $150,000

Profitability Ratio
Check with the lender

Personal Tax Liens
No open personal tax lien

Personal Bankruptcy
No open bankruptcy on your personal credit report.

Months In Business
Minimum 18 months

Pros

Simple and fast approval process with no paperwork. Funds deposited within 24 hours. Fully transparent fee structure.

Cons

Must be an established business. Interest rates are higher than traditional loans.

Main Point:

Best option for value compared to other OnDeck term loans. Be sure to compare to other  non OnDeck products to make sure this one provides the best value.

Get the financing you need

Apply Now