Skip to Main Content

OnDeck Small Business Loans: 2025 Review

Updated Jan 17, 2025

Bankrate logo

The Bankrate promise

At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for .

OnDeck: Bankrate 2025 Award Winner Best lender for startups

See offers Arrow Right Icon

Apply on BusinessLoans.com

4.5
Rating: 4.5 stars out of 5
Bankrate Score
Caret Down Icon
Accessibility
Rating: 4.8 stars out of 5
Affordability
Rating: 3.3 stars out of 5
Customer experience
Rating: 4.7 stars out of 5
Transparency
Rating: 5 stars out of 5
Flexibility
Rating: 5 stars out of 5
How Bankrate Scores work Arrow Down Icon

Overview

Lender Details

  • Money Bag Icon

    Loan amount

    $5,000-$250,000

  • Rates Icon

    Interest rate

    27.30% APR

  • Clock Wait Icon

    Term lengths

    12-24 months

  • Dollar Icon

    Min. annual revenue

    $100,000

  • Briefcase Icon

    Min. time in business

    1 year

Pros

  • Checkmark Icon

    Same-day funding

  • Checkmark Icon

    Build business credit

  • Checkmark Icon

    Early repayment incentive

Cons

  • Low loan amounts

  • Not available in North Dakota

  • Steep APRs

  • May pay a loan origination fee

Rating: 4.5 stars out of 5
4.5

Bankrate Score

  • Loan amount

    $5,000-$250,000

  • Interest rate

    27.30% APR

  • Term lengths

    12-24 months

  • Min. time in business

    1 year

  • Min. business annual revenue

    $100,000

Rating: 4.6 stars out of 5
4.6

Bankrate Score

  • Loan amount

    $5,000-$10 million

  • Interest rate

    1.11 Factor rate

  • Term lengths

    3 months-10 years

  • Min. time in business

    6 months

  • Min. business annual revenue

    $180,000

Rating: 4.5 stars out of 5
4.5

Bankrate Score

  • Loan amount

    Up to $150,000

  • Interest rate

    N/A

  • Term lengths

    12 or 24 weeks

  • Min. time in business

    6 months

  • Min. business annual revenue

    $100,000

Read our review

on Bankrate

Overall Score 4.5
Accessibility 4.8 OnDeck offers low maximum amounts, generous eligibility requirements and lightning-fast funding.
Affordability 3.3 OnDeck charges sky-high APRs, alongside origination fees.
Transparency 5.0 Qualification requirements are clear, and you can qualify with just a soft credit pull.
Customer experience 4.7 Customers can apply for and manage their loans online.
Flexibility 5.0 OnDeck offers two loan types and the option to renew your term once it’s 50 percent paid.
Clock Wait Icon
47
years in business
Credit Card Search Icon
30+
lenders reviewed
Loan Icon
22
loan features weighed
Rates Icon
770+
data points collected
CTA OnDeck Small Business Loans has 17 reviews

OnDeck Small Business Loans has 17 reviews

Dive into community reviews below and see what others think about OnDeck Small Business Loans.

4.1 Star Icon
17 ratings
Info Icon
Score breakdown
5 stars
35%
4 stars
53%
3 stars
6%
2 stars
0%
1 star
6%
Score by category
Customer experience 4.3 / 5
Accessibility rating 3.9 / 5
Affordability rating 3.5 / 5
Transparency rating 3.9 / 5
Flexibility rating 3.8 / 5

Community Reviews

See what users like you are saying about OnDeck Small Business Loans.
Search Icon
Caret Down Icon
Overall
Was the lender receptive to your business unique needs? If so how? If not, why not?
Yes I love how they communicated with me and gave me advice and showed me step by step solutions
Score by category
Flexibility rating 4 / 5
Transparency rating 3 / 5
Accessibility rating 3 / 5
Affordability rating 3 / 5
Customer experience 4 / 5
Overall
Were you able to contact the lender for customer support? What was the process like?
Easy you just call the number and either wait on hold or have them call you back
Score by category
Flexibility rating 4 / 5
Transparency rating 4 / 5
Accessibility rating 4 / 5
Affordability rating 3 / 5
Customer experience 4 / 5
Overall
Were you able to contact the lender for customer support? What was the process like?
I was able to to contact my lender for customer support .The process was a little difficult as I had to wait on hold for a bit and sometimes would get transferred multiples times during the process .
Score by category
Flexibility rating 3 / 5
Transparency rating 3 / 5
Accessibility rating 3 / 5
Affordability rating 2 / 5
Customer experience 4 / 5
Overall
Were you able to contact the lender for customer support? What was the process like?
Yes they were quick to respond, very knowledgeable and professional.answered all my questions and very helpful.
Score by category
Flexibility rating 3 / 5
Transparency rating 5 / 5
Accessibility rating 3 / 5
Affordability rating 3 / 5
Customer experience 5 / 5
Overall
Were you able to contact the lender for customer support? What was the process like?
I just had to pick up the phone and call and I was able to talk to customer support very quickly
Score by category
Flexibility rating 3 / 5
Transparency rating 3 / 5
Accessibility rating 3 / 5
Affordability rating 3 / 5
Customer experience 3 / 5
Overall
Did you feel that the lender was knowledgeable about their product and loan terms? Why or why not?
Yes they knew what they talking bout plus they were very knowledgeable in that aspect
Score by category
Flexibility rating 2 / 5
Transparency rating 3 / 5
Accessibility rating 3 / 5
Affordability rating 2 / 5
Customer experience 5 / 5
Overall
Did you feel that the lender was knowledgeable about their product and loan terms? Why or why not?
Yes. The lender has a great knowledge about thier product.
Score by category
Flexibility rating 4 / 5
Transparency rating 5 / 5
Accessibility rating 4 / 5
Affordability rating 5 / 5
Customer experience 5 / 5
Overall
Did you feel that the lender was knowledgeable about their product and loan terms? Why or why not?
Yes, all of my questions were answered quickly and correctly
Score by category
Flexibility rating 3 / 5
Transparency rating 4 / 5
Accessibility rating 5 / 5
Affordability rating 4 / 5
Customer experience 5 / 5
Overall
Did you feel that the lender was knowledgeable about their product and loan terms? Why or why not?
The lender appeared knowledgeable about their business loan products and terms, providing clear explanations of interest rates, repayment schedules, and associated fees. They confidently answered all my questions and offered a detailed comparison of different loan options, highlighting which one would best suit my business's financial needs. Additionally, they proactively discussed potential risks and benefits, demonstrating a solid understanding of how the loan could impact my business. Their ability to explain complex financial details in a straightforward manner gave me confidence in their expertise.
Score by category
Flexibility rating 4 / 5
Transparency rating 4 / 5
Accessibility rating 4 / 5
Affordability rating 4 / 5
Customer experience 5 / 5
Overall
What was your biggest pain point during the application process?
Sometimes the process of verification might be delayed for no specific reason
Score by category
Flexibility rating 4 / 5
Transparency rating 5 / 5
Accessibility rating 5 / 5
Affordability rating 5 / 5
Customer experience 4 / 5