OnDeck Business Loans

OnDeck Business Loans

OnDeck Business Loans

  • Borrow up to $250,000
  • Same day approval
  • Automatic repayments
Security Logo

100% confidential application

More info Go to site
What happens when I click Go to site?
  • Clicking Go to site will take you to your Online Application on the product issuer's website. You do not need to be an existing customer of this provider to apply.
  • Your application will typically take you no more than 10-15 minutes to complete
  • You'll be given a decision on your application from the lender and you could have the money in your account within 24 hours.
Click here to start your application >>

Get quick access to the funds your small business needs with a loan from OnDeck.

Not all small business financing has to involve a complicated and drawn out process. If you're looking for a loan of up to $250,000, you can apply conveniently online with OnDeck. You don't have to wait long to find out if you've been approved, and you can receive approved funds in one business day. Read on to find out if this loan is right for your business.

Product NameOnDeck Business Loans
Min. Loan Amount$10,000
Max. Loan Amount$250,000
Loan SecurityUnsecured
Application Fee2.5% origination fee
Loan Term6 months to 2 years

How does a small business loan from OnDeck work?

When you apply for a small business loan from OnDeck, your approval will be based on not only your personal credit score but also data from your business. If approved, you can receive your funds within one business day.

The loan terms can extend up to 2 years and repayments are automatically deducted from your business bank account daily or weekly.

What features come with an OnDeck small business loan?

Various features are on offer with this loan, including:

  • Flexible loan purposes. You can use the loan for a range of small business purposes such as purchasing equipment or inventory, hiring staff, renovating, moving or remodelling, bridging gaps in receivables or anything else your business needs.
  • Quick application and turnaround. You can apply online in about 10 minutes. If your application is approved, receive your funds the next business day.
  • Loan specialists. If you do need offline support, you can call the customer support team Monday through Friday for help with your loan application or loan account.
  • Loan amount. You can apply for a loan between $10,000 and $250,000.
  • Loan terms. You can choose loan terms between 6 months and 2 years, depending on what best suits your needs and budget.
  • Fees and rates. Small business loans come with a loan origination fee of 2.5% origination fee, and the fee for loan renewals is 1.5% of the loan amount. Your rate will be based upon OnDeck's credit assessment.
  • Repayments. Your repayments will be automatically deducted from your business bank account, so you won't have to worry about missing due dates.

How your small business can apply with OnDeck

If you'd like to apply for a loan from OnDeck, you can get your small business application started online. The eligibility criteria outlined below will need to be met before starting your application. Your small business needs to:

  • Have been operating for at least one year
  • Currently be operating in Australia
  • Have had an annual revenue of at least $100,000 in the past 12 months
  • Not be operating in a restricted industry (check OnDeck's website)

If you meet these criteria, you can start your application. Make sure you have your personal, business and financial details on hand to complete your application.

While OnDeck provides a competitive option for small business owners to consider, remember to compare all of your loan options before submitting your application.

Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

2 Responses

  1. Default Gravatar
    KouroshMarch 8, 2019

    HI, I have questions:

    1. Can I have a loan to purchase a rural business, like a greenhouse? if yes, I need detail.
    2. My company has worked for two years and 4 months. The first year was a loss; the second was a loss. Will it impact eligibility to receive a loan?

    • Avatarfinder Customer Care
      JoshuaMarch 11, 2019Staff

      Hi Kourosh,

      Thanks for getting in touch with Finder. I hope all is well with you. 😃

      If you are referring to OnDeck, here are the answers:

      1. Yes, it is possible for you to borrow money from OnDeck and use that money to purchase a greenhouse. However, you would need to meet the eligibility requirements of OnDeck. They are the following:

      – Have been operating for at least one year
      – Currently be operating in Australia
      – Have had an annual revenue of at least $100,000 in the past 12 months
      – Not be operating in a restricted industry (check OnDeck’s website)

      You can know more about the details by visiting OnDeck’s website. Click on the “Go to site” green button above to be redirected to their official page.

      2. Yes, the status and financial situation of your business could potentially affect your ability to get approved. However, OnDeck would also base their decision on your personal credit score.

      Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

Ask a question
Go to site