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Founded: 2006

Location: 1400 Broadway, New York, NY

Website: www.ondeck.com

Our Review:

Overview: On Deck Capital provides business loans to companies within the range of $5,000 to $250,000. On Deck Capital claims to have a simple application process, high approval rates, and asserts that funding is provided in as little as one business day.

Loan/Cash Advance Amount $5k – $500k
Minimum monthly revenue annual gross revenue of $100K+
Time in business 12 months
Minimum credit score 500
Repayment terms 3 – 36 months

Key Features:

  • Online or phone application
  • Approval and funding as fast as one business day
  • Minimum credit score of 500
  • Several term options ranging from 3-36 months
  • Support via live chat, phone and email
  • Must make $100,000 in annual revenue
  • Must be in business for at least 1 year
  • Personal guarantee required (but no collateral)
  • No Merchant Cash Advance
  • Funds can be used at the owner’s discretion
  • Only offers secured loans requiring a lien

Consider if:

  • You lack strong personal credit
  • You want a fixed repayment schedule
  • Need loan amount greater than $100K

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