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 October 23, 2026. We may earn a commission when you click through.

✓ quick approval for eligible businesses ✓ Flexible loan amounts from $5,000 to $250,000 ✓ Quick online application process

Business OnDeck Reviewed

OnDeck Business Term Loan

Updated 5 days ago

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Key Data

APR: 29.9%
Amount: $5,000–$250,000
Term: 3–24 mo
Decision: Same day

Requirements

Business at least 1 year old
Annual revenue $100,000+
FICO 625+

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.

About this loan

OnDeck offers business term loans ranging from $5,000 to $250,000, with quick approval for eligible businesses.

Expert Analysis

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.

What Customers Say

Customer feedback indicates mixed experiences with service speed and transparency in fees.