OnDeck

OnDeck: Online financing for small businesses in the United States

OnDeck is an online lending platform for small businesses in the United States. It is part of the publicly traded company Enova International, Inc. (NYSE: ENVA) and, according to its own presentation, has provided more than $25 billion in loans to small businesses nationwide since 2006, with over 185,000 businesses funded. The company operates as an affiliate brand of The Business Backer, which no longer accepts new customers.

Financing products

The offering is structured around two main products:

• Business line of credit: a revolving line with limits between $6,000 and $200,000, repayment terms of 12, 18, or 24 months, and the ability to draw funds in seconds via transfers, with a minimum initial draw of $1,000.
• Term loan: a one-time lump sum of cash with amounts from $5,000 to $400,000 and repayment terms up to 24 months, aimed at larger investments.

The website catalog indicates that funds can be received the same day of approval if the transaction is completed before 10:30 a.m. Eastern Time, Monday through Friday; otherwise, the deposit is made within two to three business days. Instant funding for lines of credit is limited to draws between $1,000 and $10,000, with one request per day, and requires prior registration of a business debit card.

Requirements and application process

The published minimum requirements include at least one year in business, a business checking account, $100,000 in annual revenue, and a personal FICO credit score of 625. The process is described in three steps: complete the online application, receive a decision with the help of a loan advisor, and sign the contract to receive the funds. The company notes that it does not perform hard credit pulls to verify eligibility, so it does not affect the applicant's credit score.

Terms and transparency

The company publishes that the average annual percentage rate (APR) for term loans is 53.2% and for lines of credit is 59.8%, based on loans originated in the six months ended June 30, 2026. Eligibility for the lowest rates is very limited to businesses with the best creditworthiness and cash flows, and typically with an excellent payment history on previous OnDeck products. Loans are subject to lender approval and may be issued by an OnDeck group company or by Celtic Bank, depending on the state where the business is located. It does not lend to businesses in North Dakota, and there are restricted industries.

Complementary services and customer support

OnDeck offers a free business credit score tool with no cost or impact on credit, and a loan comparison tool that breaks down the cost of capital. The company reports to business credit bureaus, which helps build credit history with on-time payments. Customers have a U.S.-based loan advisor available five days a week. Phone support is provided Monday through Friday, 9 a.m. to 7 p.m. Eastern Time.

Recognition and presence

The company has been recognized as "Best for Short-Term Loans" by industry experts and holds an A+ rating from the Better Business Bureau. OnDeck is headquartered at 4700 W. Daybreak Pkwy., Suite 200, South Jordan, UT 84009, and operates throughout the United States.

Location and contact

4700 W. Daybreak Pkwy., Suite 200, South Jordan, UT 84009