Alternatives

OnDeck alternatives: compare what is actually published.

OnDeck publishes an actual average APR, which almost nobody in this market does. Here is the full picture alongside ours.

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What OnDeck publishes

Quoted from OnDeck’s own website. Where a figure carries a qualifier such as “as low as” or “average”, the qualifier is part of the quote.

ProductsTerm loan and line of credit

AmountsLine of credit "$6,000 to $200,000"; term loan "$5K - $400K"

Rates"The average rate for term loans is 53.2% APR and the average rate for lines of credit is 59.8% APR"

TermsLine of credit "12, 18 or 24 months"; term loan "6 - 24 months"

Minimum credit score"625 personal FICO® score"

Minimum time in business"1 Year in business"

Minimum revenue"$100K business annual revenue"

Funding speed"as soon as 24 hours"; same-day if approved before 10:30am ET

Fees"We don't charge any annual fees, monthly fees or draw fees." Origination fee percentage not published

Early payoffLine of credit: "no prepayment penalty." Term loan: "you may still need to pay a portion of the unpaid interest expense"

States funded"OnDeck does not lend to businesses in North Dakota"

What we publish

Same categories, our figures, so the comparison is like for like.

Line of credit$10,000 – $350,000, 12–36 months, from 1% per month

Term loan$10,000 – $250,000, 12–18 months, 0% origination

Draw fee2.49% per draw, $10,000 minimum draw

Early payoffDiscounts at 30, 60 and 90 days. Term loan: 50% off remaining interest on a full payoff

Minimum credit score650 for line of credit or term loan, 600 revenue-based, 550 on a renewal

Minimum time in business3 years for Tier 1, 6 months for revenue-based

Minimum revenue$300,000/year or $25,000/month for Tier 1, $60,000 for revenue-based

States fundedAll 50 states

Decision / fundingSame-day decision, next-business-day funding

Every figure above is transcribed from current lender guideline documents. See all three tiers →

Published versus withheld

A simple way to read any funder: what will they put in writing before you apply?

Published by OnDeckAn average APR with a dated basis; Credit, time-in-business and revenue minimums; A state exclusion; That it charges no draw fee

Not published by OnDeckIts origination fee percentage

Published by usAmounts, rates, draw fee, early payoff, credit floor, time in business, revenue minimum, excluded states

How the two actually differ

OnDeck is the most transparent large lender in this market and deserves credit for it. Publishing a real average APR — 53.2% on term loans, 59.8% on lines of credit, with a stated origination period — is something almost no competitor does.

It also publishes the unflattering detail, which is rarer still: on a term loan, paying off early means "you may still need to pay a portion of the unpaid interest expense." That is a meaningful difference from our term loan, where a full early payoff takes 50% off the remaining interest.

The other honest contrast is the entry bar. OnDeck opens at 1 year in business and a 625 score; our Tier 1 needs 3 years and 650. A newer business may qualify with them and not with us on that tier — which is exactly the kind of thing worth knowing before you apply anywhere.

How it works

1. Apply in minutes

A short application. No impact to your credit score to see what you qualify for.

2. Same-day decision

We review revenue, time in business and bank activity — not just a credit score.

3. Review your terms

You see the amount, the term and the total cost before you sign anything.

4. Funded next business day

Money in your account, typically the next business day after signing.

Common questions

What APR does OnDeck charge?

OnDeck publishes averages rather than a rate card: "The average rate for term loans is 53.2% APR and the average rate for lines of credit is 59.8% APR."

What credit score does OnDeck require?

Its site states "625 personal FICO® score," with 1 year in business and "$100K business annual revenue."

Does OnDeck lend in every state?

No. Its site states "OnDeck does not lend to businesses in North Dakota."

What is the main difference on early payoff?

OnDeck states a term-loan payoff may still owe a portion of unpaid interest. Our term loan applies a 50% discount on the remaining interest for a full early payoff.

How current is this comparison?

Figures were read directly from OnDeck’s public website in September 2026. Companies change terms without notice, so confirm anything material with them before you decide.

Is this an independent review?

No, and we will not pretend otherwise — we are one of the options on this page. What we can do is quote the other side accurately and publish our own numbers in the same detail, so you can check both.