OnDeck Reviews and Pricing

Founded in 2006, OnDeck is an online lender providing short-term loans and lines of credit to small businesses. Over the last 12 years, OnDeck has built a reputation based on speed and ease. User reviews from around the web confirm that OnDeck is very positively rated by the vast majority of its small business customers that write a review.

Customer reviews

Taken from around the web to determine what customers think about OnDeck.
Average rating:
4.8 from 1107 customer reviews
Value for Money:
Customer Service:

A Quick Video Introduction to OnDeck

To qualify for an OnDeck loan service, you will need a credit score of 500+, an annual sales revenue of $100k+ and have been trading for more than a year.

How does OnDeck Standout?

The biggest standout with OnDeck is the speed with which they approve loans. It takes less than 10 minutes to complete an easy online application process. Thereafter, most loans are approved the next working day. This makes OnDeck a great option if your business has a less than stellar credit rating and needs money fast. Another standard feature, is that OnDeck reward their customers for repeat business. Assuming you paid off your last loan as agreed, your next loan will probably attract a lower rate. and the origination fee will reduce too.

Most Helpful Positive Review

“It was an easy and fast process to obtain funds the next day. My OnDeck account manger is knowledgeable and patient. She communicated with me very well regarding my options. She then provided exceptional follow-up and I felt that I was a valued customer. I have worked with other lenders and OnDeck is my best experience yet.”

Where does OnDeck Fall Short?

OnDeck’s loans can be more expensive than some of their online competitors. In addition, OnDeck requires a lien over all of your business’s assets and a personal guarantee. There is also no benefit to be had from paying OnDeck’s Term loans back early as their fees are fixed.

Most Helpful Negative Review

“Our company already has a line of credit in place and we decided to apply to OnDeck to see whether it would be worth adding a second for the busy Christmas period. Our first line of credit has an APR of 18% for a $55k line of credit. After a little bit of negotiation, the best OnDeck could offer us was a $45k term loan for 18 months at a much higher rate.”

A Roundup of OnDeck Reviews

The vast majority of OnDeck’s customers are extremely pleased with the service that they receive according of over 1,000 customer reviews and ratings. The negative ratings that they do receive are usually from customers who have been turned down as they did not meet their lending requirements.

 Average RatingNumber of ReviewsReview Quality
Trust Pilot
Better Business Bureau4.574Great
Credit Karma5.051Great

OnDeck Pricing

As covered further above, OnDeck is a great resource for fast and easy funding. However, with more time you may be able to find a better rate.

 Loan ($)TermAPR*
OnDeck Term Loans$5-500K3-36 months9-100%
OnDeck Line of CreditUp to 100KUp to 6 months14-48%
* The APR will depend on how each online lender perceives the risk involved.


If you need money fast to fix a short-term cash flow issue, OnDeck is an effective solution. Once your online application is approved, you can most likely access your cash advance the next working day. If you need longer-term borrowing, it’s worth shopping around to ensure you get the most competitive rate.