Ondeck is a capital company that specializes in loans for small businesses. Ondeck offers term loans of up to $500,000 and lines of credit of up to $100,000.
Ondeck Rates and Fees:
9.99% and up.
2.5%-4% processing fee.
Line of Credit
13.99% and up.
$20 /mo. maintenance fee.
Pros: Qualifying for a small business loan with Ondeck is fast and easy.
Cons: Rates may be high, particularly if you don't have an excellent credit score.
Bottomline: Borrowers trust Ondeck because they make the loan application process simple and efficient so that owners can add new capital to their businesses as soon as possible.
What is the price range for Ondeck capital?
Ondeck term loans range anywhere from 2.5% to 5% for the one-time processing fee. For lines of credit, there is a $20 per month management fee.
How are Ondeck loans different from bank loans?
On deck loans are designed for small businesses that need a financial boost in order to keep growing. Unlike bank loans with their high fees and rigid requirements, On deck capital can be tailored to your situation and it's affordable for everyone.
Kabbage vs. Ondeck
Kabbage and Ondeck are both popular lenders, but Ondeck is able to offer lower rates and connect clients with larger amounts of capital for their business.
Is Ondeck a publicly traded company?
Yes. You can purchase Ondeck stock using the ticker symbol ONDK.
How does Ondeck rank among other small business loan companies?
Multiple consumer rankings put Ondeck among the top 10 small business loan companies in the USA and suggest that On deck financing is one of the best alternatives to traditional bank loans.
When my business gets a loan from Ondeck, will we get an online account?
Once you've been approved for any On deck business loans, you will be able to set up your Ondeck login where you can view all of your account information. Your On deck login is a secure area that can be accessed through ondeck.com.
Does Ondeck offer business loans near me?
Ondeck is headquarted in New York, but they offer business loans throughout the US and Canada. Ondeck does not have retail locations like a bank - you simply apply online and a loan officer will speak with you over the phone.
Are there any Ondeck alternatives?
OnDeck News & Activity:
News or Activity
December 12, 2018
December 11, 2018
November 21, 2018
October 22, 2018
Ondeck Key Information:
New York City, NY
Number of Employees
1400 Broadway Ave., New York, NY, 10018
We turned to OnDeck when we couldn't get any kind of loan for our new (18 months in operation) business. Their qualification requirements are much easier than traditional lenders.
We have had several loans with these guys and every transaction has been seamless and professional!