# OnDeck Review

> OnDeck is one of the longest-running online small-business lenders in the U.S., known for fast funding on short-term loans and lines of credit. It's a strong fit for established businesses with steady revenue that value speed over the lowest possible rate.

## Key takeaways
- OnDeck (since 2006) is one of the longest-running online small-business lenders, offering short-term loans and a line of credit ($5K–$400K) as a direct lender.
- It funds fast — often same or next business day — and reports to business credit bureaus, making it a fit for established businesses that value speed.
- Costs are higher than banks or SBA loans, repayments are often daily or weekly, and it generally requires about a year in business and steady revenue.

## OnDeck at a glance

OnDeck has been lending to small businesses since 2006 and is one of the most
recognizable names in online business financing. It focuses on **speed and
convenience**: a short online application, fast decisions, and funding that can
hit your account the same or next business day. That makes it a popular choice
when you need working capital quickly and don't want to wait weeks for a bank.

### What OnDeck offers

- **Short-term loans** — a lump sum repaid over a fixed term with regular
  (often daily or weekly) payments. Good for a specific, time-sensitive need.
- **Business line of credit** — revolving funds you can draw on as needed, with
  interest only on what you use. Good for ongoing or unpredictable expenses.

### Who it's best for

OnDeck fits **established businesses** (roughly a year or more in operation) with
consistent revenue and at least fair credit, who prioritize getting funded fast.
If you have strong credit and can wait, a bank or SBA loan will almost always be
cheaper — and if you're very new or have weaker credit, revenue-based options may
be more accessible.

### How to decide

Speed has a cost. OnDeck's rates are higher than a bank's, so it's worth
comparing a couple of offers before committing. The simplest way is to apply once
through Hoss Capital — we'll match you with OnDeck and comparable lenders so you
can weigh the real numbers side by side.

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Canonical: https://hoss-capital.pages.dev/lenders/ondeck/

Sources:
- https://www.ondeck.com