OnDeck Business Term Loan
OnDeck offers business term loans ranging from $5,000 to $250,000, with quick approval for eligible businesses.
Last checked on September 4, 2026. We may earn a commission when you click through.
OnDeck Business Term Loan
Updated 1 month agoAPR Range
29.9%
Amount
$5k–$250k
Term
3–24 months
Type
Business Term Loan
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Our Verdict
OnDeck's fast quick approval is a major advantage for urgent funding needs, but the high minimum APR of 29.9% can make this loan costly for long-term borrowing.
Best For
Best for established businesses needing quick cash with good revenue.
Watch Out
Be cautious of the high APR, which can significantly increase your total repayment amount.
Pros
- quick approval for eligible businesses
- Flexible loan amounts from $5,000 to $250,000
- Quick online application process
Cons
- High APR starting at 29.9%
- Requires at least $100,000 in annual revenue
- Minimum FICO score of 625 can limit eligibility
Full Review
At 29.9% APR, OnDeck’s business term loans are designed for quick access to funds. While the approval time is impressive—often within the fast—businesses must have at least $100,000 in annual revenue and a minimum FICO score of 625 to qualify.
The application process is and can be completed online, which many borrowers appreciate. However, the high rates mean this product is not suitable for businesses looking to borrow long-term. If you fall into this category, consider alternatives like Kabbage, which offers lower rates but may take longer to fund.
Customer service experiences vary, with some users noting responsiveness while others report delays. Ensure you read all terms carefully to avoid surprises, as the costs can add up quickly with this type of financing. For a quick influx of cash, OnDeck can be but it’s the costs against your business's financial health.
Who Is This For?
This loan is suited for established businesses with strong revenue looking for fast funding.
What Borrowers Say
Customer feedback indicates mixed experiences with service speed and transparency in fees.
Summary
OnDeck's business term loans offer quick access to funds but come with high costs that may not be suitable for all borrowers.
About This Loan
Requirements
- Business at least 1 year old
- Annual revenue $100,000+
- FICO 625+
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