Key takeaways

  • Bluevine and OnDeck are both online lenders offering short-term loans
  • Choose Bluevine for low starting interest rates
  • Choose OnDeck for accessible lines of credit

Both Bluevine and OnDeck offer small business loans to fair credit business owners. You can get a business line of credit with either online lender. But OnDeck provides term loans with repayment terms that are a bit longer than Bluevine’s terms. OnDeck also keeps less stringent requirements when applying for its business loans.

Let’s look at the differences between Bluevine and OnDeck’s business loans to help you choose the best small business lender.

Bluevine vs. OnDeck at a glance

Both Bluevine and OnDeck offer the best business lines of credit with similar loan amounts and personal credit score reqiurements. Bluevine also offers other business banking products and has a lower starting interest rate.

OnDeck offers both a business line of credit and term loan, though no other banking products that would make doing business with this lender convenient. It does loosen its requirements to apply, making it accessible to younger businesses.

Bluevine OnDeck
Bankrate Score 4.4 4.5
Best for Low starting interest rates Accessible lines of credit
Number of loan products 1 2
Loan amounts Up to $250,000 $5,000 to $250,000
Interest rates From 6.20% (simple interest) From 29.90%
Term lengths 6 to 12 months 12 to 24 months
Personal credit score 625 625
Minimum time in business 2 to 3 years 1 year
Minimum business revenue $40,000 monthly for 6-month terms$80,000 monthly for 12-month terms $100,000 per year

Bluevine business loans

Bluevine business lines of credit are offered to established businesses with at least two to three years’ experience. Though it requires well-built revenue, Bluevine approves borrowers with personal credit scores of 625.

The fintech lender can approve business loans as fast as five minutes, with funding by the next business day. And if you decide to pay down the loan early, you won’t get charged penalties for doing so.

But Bluevine’s revenue requirements are stricter than most. You’ll need at least $40,000 monthly for six-month terms and $80,000 monthly for 12-month terms. Most business lines of credit from online borrowers allow businesses with around $100,000 in yearly revenue.


  • Welcomes fair credit
  • No prepayment penalty
  • Funds within 24 hours


  • Sky-high revenue requirements
  • Sole proprietors can’t apply

OnDeck business loans

As an online lender, OnDeck business loans are limited to business lines of credit or short-term loans. It welcomes business owners with fair credit and keeps loan sizes accessibly low. For example, its line of credit starts at $6,000 and goes to $100,000, and its term loan goes from $5,000 to $250,000.

Like many online lenders, its loans stick to short repayment terms. Its business line of credit used to have repayment terms of one year, but the lender now offers repayment terms of 12, 18 or 24 months. Its term loan also can go up to 24 months. These repayment terms are twice as long as Bluevine, but OnDeck’s interest rates start on the high end at 29.9 percent.


  • Accepts fair credit
  • Lenient requirements to apply
  • Accessible loan amounts


  • Charges an origination fee up to 4 percent
  • High interest rates
  • Short repayment terms

How to choose between Bluevine and OnDeck

Both Bluevine and OnDeck offer business lines of credit, although Bluevine grants lower starting interest rates for its credit line. Due to high revenue and time in business requirements, Bluevine works best for established businesses that may have some credit challenges.

OnDeck provides one more loan option by way of its term loan. It offers repayment schedules from 18 to 24 months, short but more flexible than Bluevine. OnDeck works well for younger businesses with fair credit or businesses needing a slightly longer timeline to repay.

Let’s dig into the main benefits of choosing either short-term lender.

Choose Bluevine for low starting interest rates

Bluevine structures its fee as simple interest, starting at just 6.20 percent based on a 26-week term. To get these interest rates, you’ll need strong credit to qualify. The lender doesn’t state the credit score you’d need to get its lowest rates, but a score of 670 or higher is the ideal. Bluevine does accept fair credit down to 625, though interest rates might jump at this credit level.

Bluevine’s starting rate is much lower than OnDeck’s beginning APR of 29.9 percent. Its average rates get even higher, standing at 48.90 percent for its line of credit and 62.10 percent for its term loan.

Choose OnDeck for accessible business lines of credit

OnDeck’s business line of credit keeps its lending requirements lenient compared to Bluevine. It wants to see a minimum of $100,000 in annual revenue and at least one year in business to get approved. Like Bluevine, it accepts fair credit with scores at 625 or more.

By contrast, Bluevine requires monthly revenue of $40,000 and two years in business if you choose its six-month term. Its longer 12-month term needs at least $80,000 in monthly revenue and three years in business.

Choose OnDeck for more flexible repayment terms

OnDeck does stick with short-term loans but with more flexibility in how long you can repay. Both its business line of credit and term loan have repayment terms of up to 24 months, giving you more time to pay off your short-term loan than many other lenders.

Bluevine’s line of credit offers terms of six or 12 months, and you can choose weekly or monthly payments. While that seems more flexible, you have to qualify for the longer term. Most online lenders don’t have these tiered qualifications. Bluevine’s qualifications are:

  • 6-month term: $40,000 in monthly revenue, 2 years in business, weekly payments
  • 12-month term: $80,000 in monthly revenue, 3 years in business, monthly payments


Bluevine and OnDeck have their own specialties, offering limited short-term loans to businesses without perfect credit. But you might be looking to compare lenders with more loan options or who offer even more lenient requirements.

Lendio is an online marketplace that compares over 75 partner lenders. You can apply for a variety of conventional and alternative business loans, some helping bad credit business owners. For example, you need just $50,000 in annual revenue, six months in business and a 560 credit score to get its business line of credit.

Business credit cards are another alternative to business loans to cover short-term gaps in cash flow. These cards don’t typically need you to have years of experience or a set amount of revenue. But you’ll need strong credit unless you go with a secured business credit card or find one with relaxed credit requirements.

SBA loans

SBA loans are loans partially guaranteed by the Small Business Administration, designed to help businesses that can’t traditionally get conventional business loans. You can choose from many SBA loans, including the SBA 7(a) loan for general loan purposes and SBA CAPLines for SBA-backed lines of credit.

But lenders set their own requirements for these competitive loans, so borrowers with subprime credit may still get edged out. These borrowers could work with nonprofit lenders to secure an SBA microloan up to $50,000. Or they may be able to qualify for a Community Advantage loan offered through community-based lenders in loan amounts up to $350,000.

Bottom line

Bluevine business lines of credit work well for business owners with fair credit. Your business will need well-established revenue to qualify, and the requirements go up if you want to choose its longer term.

OnDeck business loans include a business line of credit and term loan with slightly longer repayment choices. But depending on your credit, you may be able to qualify for business loans with lower interest rates. To find the right loan for you, compare other small business loans.

Frequently asked questions

  • You can use a business line of credit to cover gaps in cash flow such as payroll or inventory or to pay for small or emergency expenses like repairing equipment.
  • Many business lines of credit are unsecured, meaning they don’t require collateral to back the amounts you borrow. But some credit lines require collateral, such as the secured lines offered through Bank of America.
  • OnDeck accepts fair credit, checking business owner’s personal credit scores for at least a 625 score or higher.