OnDeck
Online lender: lines of credit $6,000 to $200,000 and term loans $5,000 to $400,000. Average APR 53.2% to 59.8%, 625 FICO, same-day funding. Best for established businesses needing speed.
Rates & Cost
What the financing costs, normalized so lenders can be compared.
Repayment Terms
How and how fast you pay it back, and how flexible it is.
Eligibility & Access
Who qualifies and what you have to put on the line.
Speed & Service
How fast you get funded and how the lender treats you.
Company Verification
Who actually stands behind the lender: legal entity, registration, and how long the business and its website have existed. Checked against public registries.
Best for: Businesses with a year of history, $100K+ in revenue and a 625+ FICO that need $6,000 to $400,000 fast, often the same day, and can handle frequent debits.
Not for: Anyone needing more than 24 months to repay, North Dakota businesses, or borrowers who qualify for bank, SBA or lower-rate online credit. OnDeck's average APRs exceed 50%.
Lender List verdict: OnDeck is a long-running online lender that publishes its average APRs and can fund the day you sign. It is also expensive: a $25,000 line draw at its average APR costs about $8,355 in interest over 12 months.
OnDeck at a glance
OnDeck offers lines of credit from $6,000 to $200,000 and term loans from $5,000 to $400,000.
| OnDeck | |
|---|---|
| Lender type | Direct online lender (OnDeck family of companies or Celtic Bank) |
| Founded | 2006 |
| HQ | South Jordan, UT |
| Parent/owner | Enova International, Inc. (NYSE: ENVA), since October 2020 |
| Products | Business line of credit; business term loan |
| Amounts | $6,000 to $200,000 (line); $5,000 to $400,000 (term loan) |
| Cost (headline) | Average APR 59.8% (line) and 53.2% (term loan), first half of 2026 (NerdWallet: 39% to 99% line, 35% to 99% term loan) |
| Term | 12, 18 or 24 months (line); 18 to 24 months (term loan) |
| Funding speed | Same day on weekday checkouts by 10:30 a.m. ET; otherwise 2 to 3 business days |
| Status | Active (2026-10-26); not available in North Dakota |
What is OnDeck?
OnDeck is an online small business lender that has funded more than 185,000 businesses and over $25 billion since 2006. Founded in New York by Mitch Jacobs, it went public in 2014 and has been part of Enova International since October 2020.
The lender named in your agreement is either an OnDeck company or Celtic Bank, depending on your state and loan. It lends nationwide except North Dakota and some restricted industries.
How the OnDeck line of credit and term loan work
OnDeck's line revolves up to $200,000, repaid over 12, 18 or 24 months; its term loan pays $5,000 to $400,000 upfront over 18 to 24 months.
- Line of credit: Draw at least $1,000 at origination; repay weekly or monthly over 12, 18 or 24 months, and repaid principal frees up again.
- Term loan: Repaid by automatic daily or weekly debits from business checking. Only borrowers with strong credit and proven monthly revenue reach $400,000.
- Instant Funding: Line draws of $1,000 to $10,000, once a day, usually arrive within 30 minutes (registered business debit card required).
OnDeck rates and fees: what it really costs
OnDeck's average APR was 59.8% on lines of credit and 53.2% on term loans originated in the six months to June 30, 2026. NerdWallet reports a range of 39% to 99% on lines and 35% to 99% on term loans; the lowest go only to the strongest businesses.
- Line of credit: no annual, monthly or draw fees; no prepayment penalty
- Term loan origination fee: 0% to 4%; the 0% rate is only for customers who have renewed a term loan before
- Term loan early payoff: part of the remaining interest may still be due; NerdWallet and Bankrate report 75%, or none for select borrowers with OnDeck's Prepayment Benefit
- Late and returned payment fees may apply
Worked example: draw $25,000 on an OnDeck line at its 59.8% average APR with a 12-month term and weekly payments. You pay about $641 a week, $33,355 in total, so the draw costs $8,355 in interest.
OnDeck requirements
OnDeck requires a 625 personal FICO score, one year in business and $100,000 in annual revenue.
| Requirement | OnDeck minimum |
|---|---|
| Personal credit score | 625 FICO (675+ recommended) |
| Time in business | 1 year (2+ recommended) |
| Annual revenue | $100,000 ($250,000+ recommended) |
| Bank account / integrations | Business checking account; about $3,000+ average monthly balance recommended |
| Credit check | Soft pull on the owner's personal credit to check eligibility |
| Collateral / guarantee | Line: unsecured. Term loan: general lien on business assets plus a personal guarantee |
Pros and cons
OnDeck's biggest strengths are same-day funding and published average APRs; its biggest weakness is a cost that averages above 50% APR.
Pros
- Publishes its average APRs, so you can judge an offer before applying
- Same-day funding on early weekday checkouts
- No annual, monthly, draw or prepayment fees on the line
- Up to $400,000 on a term loan, versus Bluevine's $250,000 line and Fundbox's $150,000 (third-party)
Cons
- Average APRs of 53.2% to 59.8%, far above QuickBooks Capital's 9.99% to 36%
- 24-month maximum term, with daily or weekly debits on term loans
- Early term-loan payoff can still cost part of the remaining interest
- Term loans carry a general business lien and personal guarantee
OnDeck vs. Bluevine vs. Fundbox
OnDeck lends up to $400,000 on a term loan and $200,000 on a line, versus $250,000 at Bluevine and $150,000 at Fundbox.
| OnDeck | Bluevine | Fundbox | |
|---|---|---|---|
| Max amount | $200,000 line; $400,000 term loan | $250,000 line | Up to $150,000 (third-party) |
| Pricing | Average APR 59.8% (line), 53.2% (term loan) | Rates as low as 7.8% for top customers | Fee 4.66% per 12-week draw, 8.99% per 24-week draw (third-party) |
| Min FICO | 625 | 625 | 600 (third-party) |
| Min time in business | 1 year | 12 months | 3 to 6 months (third-party) |
| Min annual revenue | $100,000 | $120,000 ($10,000/month) | $100,000 (third-party) |
| Repayment | Weekly or monthly (line); daily or weekly (term loan); 12 to 24 months | Weekly or monthly | Weekly, 12 or 24 weeks |
| Early payoff | Line: no penalty. Term loan: part of remaining interest may be owed | Not addressed | Remaining fees waived |
Bluevine figures from bluevine.com; Fundbox from Bankrate and fundbox.com, checked 2026-10-26.
Choose OnDeck for more than $250,000, a term loan rather than a line, or 30-minute Instant Funding draws. Choose Bluevine if you qualify for its lower rates. Choose Fundbox if you are under a year old or your FICO is near 600.
OnDeck alternatives on Lender List
The closest OnDeck alternatives are Bluevine (lines up to $250,000) and QuickBooks Capital (term loans at 9.99% to 36% APR).
- Bluevine — lines priced from 7.8% for strong borrowers
- QuickBooks Capital — term loans up to $250,000, no origination fee
- Fundbox — for younger businesses and 600 FICO
- iBusiness Funding — SBA 7(a) platform (not a direct lender), loans up to $5,000,000 if you can wait weeks
- Browse all online term loans and business lines of credit on Lender List
Frequently asked questions about OnDeck
OnDeck is a legitimate, Enova-owned lender offering lines up to $200,000 and term loans up to $400,000.
Is OnDeck Legit? Yes. OnDeck has lent since 2006, funded over $25 billion, and been owned by NYSE-listed Enova International since 2020. Loans come from an OnDeck company or Celtic Bank. It holds a 4.6/5 Trustpilot score (6,108 reviews; 91% five-star, 4% one-star), says it is BBB accredited with an A+ rating, and is still lending in 2026.
How Do I Contact OnDeck Customer Service? Call OnDeck at (888) 269-4246, Monday to Friday, 9 a.m. to 7 p.m. Eastern; account and payment questions can also go to (888) 556-3483. After paying off a term loan, email customer service a written request to release the UCC lien.
What Are OnDeck's Interest Rates? OnDeck's average APR was 59.8% on lines of credit and 53.2% on term loans for loans made in the first half of 2026. NerdWallet reports ranges of 39% to 99% (lines) and 35% to 99% (term loans), and OnDeck says its lowest rates go only to its strongest businesses.
Does OnDeck Offer a Merchant Cash Advance? No. OnDeck offers only a business line of credit and a term loan. Both carry fixed scheduled payments priced as an APR, not a factor rate on future sales, so payments don't move with revenue. OnDeck is a lender, not an MCA funder.
Who Owns OnDeck? Enova International, Inc. (NYSE: ENVA) has owned OnDeck since closing the purchase on October 13, 2020, when OnDeck's own shares stopped trading. OnDeck, founded in 2006 and NYSE-listed from 2014, still lends under its own brand as the OnDeck family of companies.
Is OnDeck a Direct Lender? Yes. OnDeck is not a broker: the lender of record is either an OnDeck company or Celtic Bank, depending on your state and loan details, and your loan agreement names it before you sign. OnDeck has lent this way since 2006.
Does OnDeck Report to Credit Bureaus? Yes. OnDeck reports its lines of credit to business credit bureaus, and NerdWallet says payment activity goes to Experian, Equifax and PayNet; Bankrate also confirms bureau reporting. On-time payments can strengthen your business credit file; missed ones can hurt it.
Does OnDeck Do a Credit Check? Yes, a soft pull on the owner's personal credit to check eligibility, which doesn't affect your score. You need at least a 625 personal FICO; OnDeck recommends 675 or higher. Approval also requires one year in business and $100,000 in annual revenue.
Last verified 2026-10-26. Pricing and terms are provider-stated or third-party-reported and vary by offer; confirm with the lender before applying.
Best for: Businesses with a year of history, $100K+ in revenue and a 625+ FICO that need $6,000 to $400,000 fast, often the same day, and can handle frequent debits.
Not for: Anyone needing more than 24 months to repay, North Dakota businesses, or borrowers who qualify for bank, SBA or lower-rate online credit. OnDeck's average APRs exceed 50%.
Lender List verdict: OnDeck is a long-running online lender that publishes its average APRs and can fund the day you sign. It is also expensive: a $25,000 line draw at its average APR costs about $8,355 in interest over 12 months.
OnDeck at a glance
OnDeck offers lines of credit from $6,000 to $200,000 and term loans from $5,000 to $400,000.
| OnDeck | |
|---|---|
| Lender type | Direct online lender (OnDeck family of companies or Celtic Bank) |
| Founded | 2006 |
| HQ | South Jordan, UT |
| Parent/owner | Enova International, Inc. (NYSE: ENVA), since October 2020 |
| Products | Business line of credit; business term loan |
| Amounts | $6,000 to $200,000 (line); $5,000 to $400,000 (term loan) |
| Cost (headline) | Average APR 59.8% (line) and 53.2% (term loan), first half of 2026 (NerdWallet: 39% to 99% line, 35% to 99% term loan) |
| Term | 12, 18 or 24 months (line); 18 to 24 months (term loan) |
| Funding speed | Same day on weekday checkouts by 10:30 a.m. ET; otherwise 2 to 3 business days |
| Status | Active (2026-10-26); not available in North Dakota |
What is OnDeck?
OnDeck is an online small business lender that has funded more than 185,000 businesses and over $25 billion since 2006. Founded in New York by Mitch Jacobs, it went public in 2014 and has been part of Enova International since October 2020.
The lender named in your agreement is either an OnDeck company or Celtic Bank, depending on your state and loan. It lends nationwide except North Dakota and some restricted industries.
How the OnDeck line of credit and term loan work
OnDeck's line revolves up to $200,000, repaid over 12, 18 or 24 months; its term loan pays $5,000 to $400,000 upfront over 18 to 24 months.
- Line of credit: Draw at least $1,000 at origination; repay weekly or monthly over 12, 18 or 24 months, and repaid principal frees up again.
- Term loan: Repaid by automatic daily or weekly debits from business checking. Only borrowers with strong credit and proven monthly revenue reach $400,000.
- Instant Funding: Line draws of $1,000 to $10,000, once a day, usually arrive within 30 minutes (registered business debit card required).
OnDeck rates and fees: what it really costs
OnDeck's average APR was 59.8% on lines of credit and 53.2% on term loans originated in the six months to June 30, 2026. NerdWallet reports a range of 39% to 99% on lines and 35% to 99% on term loans; the lowest go only to the strongest businesses.
- Line of credit: no annual, monthly or draw fees; no prepayment penalty
- Term loan origination fee: 0% to 4%; the 0% rate is only for customers who have renewed a term loan before
- Term loan early payoff: part of the remaining interest may still be due; NerdWallet and Bankrate report 75%, or none for select borrowers with OnDeck's Prepayment Benefit
- Late and returned payment fees may apply
Worked example: draw $25,000 on an OnDeck line at its 59.8% average APR with a 12-month term and weekly payments. You pay about $641 a week, $33,355 in total, so the draw costs $8,355 in interest.
OnDeck requirements
OnDeck requires a 625 personal FICO score, one year in business and $100,000 in annual revenue.
| Requirement | OnDeck minimum |
|---|---|
| Personal credit score | 625 FICO (675+ recommended) |
| Time in business | 1 year (2+ recommended) |
| Annual revenue | $100,000 ($250,000+ recommended) |
| Bank account / integrations | Business checking account; about $3,000+ average monthly balance recommended |
| Credit check | Soft pull on the owner's personal credit to check eligibility |
| Collateral / guarantee | Line: unsecured. Term loan: general lien on business assets plus a personal guarantee |
Pros and cons
OnDeck's biggest strengths are same-day funding and published average APRs; its biggest weakness is a cost that averages above 50% APR.
Pros
- Publishes its average APRs, so you can judge an offer before applying
- Same-day funding on early weekday checkouts
- No annual, monthly, draw or prepayment fees on the line
- Up to $400,000 on a term loan, versus Bluevine's $250,000 line and Fundbox's $150,000 (third-party)
Cons
- Average APRs of 53.2% to 59.8%, far above QuickBooks Capital's 9.99% to 36%
- 24-month maximum term, with daily or weekly debits on term loans
- Early term-loan payoff can still cost part of the remaining interest
- Term loans carry a general business lien and personal guarantee
OnDeck vs. Bluevine vs. Fundbox
OnDeck lends up to $400,000 on a term loan and $200,000 on a line, versus $250,000 at Bluevine and $150,000 at Fundbox.
| OnDeck | Bluevine | Fundbox | |
|---|---|---|---|
| Max amount | $200,000 line; $400,000 term loan | $250,000 line | Up to $150,000 (third-party) |
| Pricing | Average APR 59.8% (line), 53.2% (term loan) | Rates as low as 7.8% for top customers | Fee 4.66% per 12-week draw, 8.99% per 24-week draw (third-party) |
| Min FICO | 625 | 625 | 600 (third-party) |
| Min time in business | 1 year | 12 months | 3 to 6 months (third-party) |
| Min annual revenue | $100,000 | $120,000 ($10,000/month) | $100,000 (third-party) |
| Repayment | Weekly or monthly (line); daily or weekly (term loan); 12 to 24 months | Weekly or monthly | Weekly, 12 or 24 weeks |
| Early payoff | Line: no penalty. Term loan: part of remaining interest may be owed | Not addressed | Remaining fees waived |
Bluevine figures from bluevine.com; Fundbox from Bankrate and fundbox.com, checked 2026-10-26.
Choose OnDeck for more than $250,000, a term loan rather than a line, or 30-minute Instant Funding draws. Choose Bluevine if you qualify for its lower rates. Choose Fundbox if you are under a year old or your FICO is near 600.
OnDeck alternatives on Lender List
The closest OnDeck alternatives are Bluevine (lines up to $250,000) and QuickBooks Capital (term loans at 9.99% to 36% APR).
- Bluevine — lines priced from 7.8% for strong borrowers
- QuickBooks Capital — term loans up to $250,000, no origination fee
- Fundbox — for younger businesses and 600 FICO
- iBusiness Funding — SBA 7(a) platform (not a direct lender), loans up to $5,000,000 if you can wait weeks
- Browse all online term loans and business lines of credit on Lender List
Frequently asked questions about OnDeck
OnDeck is a legitimate, Enova-owned lender offering lines up to $200,000 and term loans up to $400,000.
Is OnDeck Legit? Yes. OnDeck has lent since 2006, funded over $25 billion, and been owned by NYSE-listed Enova International since 2020. Loans come from an OnDeck company or Celtic Bank. It holds a 4.6/5 Trustpilot score (6,108 reviews; 91% five-star, 4% one-star), says it is BBB accredited with an A+ rating, and is still lending in 2026.
How Do I Contact OnDeck Customer Service? Call OnDeck at (888) 269-4246, Monday to Friday, 9 a.m. to 7 p.m. Eastern; account and payment questions can also go to (888) 556-3483. After paying off a term loan, email customer service a written request to release the UCC lien.
What Are OnDeck's Interest Rates? OnDeck's average APR was 59.8% on lines of credit and 53.2% on term loans for loans made in the first half of 2026. NerdWallet reports ranges of 39% to 99% (lines) and 35% to 99% (term loans), and OnDeck says its lowest rates go only to its strongest businesses.
Does OnDeck Offer a Merchant Cash Advance? No. OnDeck offers only a business line of credit and a term loan. Both carry fixed scheduled payments priced as an APR, not a factor rate on future sales, so payments don't move with revenue. OnDeck is a lender, not an MCA funder.
Who Owns OnDeck? Enova International, Inc. (NYSE: ENVA) has owned OnDeck since closing the purchase on October 13, 2020, when OnDeck's own shares stopped trading. OnDeck, founded in 2006 and NYSE-listed from 2014, still lends under its own brand as the OnDeck family of companies.
Is OnDeck a Direct Lender? Yes. OnDeck is not a broker: the lender of record is either an OnDeck company or Celtic Bank, depending on your state and loan details, and your loan agreement names it before you sign. OnDeck has lent this way since 2006.
Does OnDeck Report to Credit Bureaus? Yes. OnDeck reports its lines of credit to business credit bureaus, and NerdWallet says payment activity goes to Experian, Equifax and PayNet; Bankrate also confirms bureau reporting. On-time payments can strengthen your business credit file; missed ones can hurt it.
Does OnDeck Do a Credit Check? Yes, a soft pull on the owner's personal credit to check eligibility, which doesn't affect your score. You need at least a 625 personal FICO; OnDeck recommends 675 or higher. Approval also requires one year in business and $100,000 in annual revenue.
Last verified 2026-10-26. Pricing and terms are provider-stated or third-party-reported and vary by offer; confirm with the lender before applying.
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