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Term Loan

OnDeck review.

OnDeck is one of the oldest online direct lenders. They fund off balance sheet and underwrite quickly against business cash flow.

Loan range
$5K – $250K
Speed
1–3 business days
APR / Fee
29% – 99%+
HQ
New York, NY · est. 2006
Best for

Established SMBs needing fast, smaller-ticket capital with predictable daily/weekly debits.

Watch out for

APR can climb fast on short-term loans; renewal stacking common.

Pros
  • +Same-week funding
  • +No collateral on smaller tickets
  • +Reports to business credit bureaus
Cons
  • –High APR vs. bank or SBA
  • –Daily/weekly repayment can strain cash flow
  • –Renewals can double-pay outstanding principal
Alternatives to OnDeck
Bluevine
$6K – $250K
Kabbage (Amex Business Blueprint)
$2K – $250K
Fundbox
Up to $150K
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