Can OnDeck Capital Help Keep Your Small Business Afloat?

To sustain this free service, we receive affiliate commissions via some of our links. This doesn’t affect rankings. Our review process.

OnDeck Capital ReviewsDo you own a small business but can’t qualify for a bank loan? Or perhaps you need some quick cash and can’t wait for the traditionally lengthy approval process. Don’t worry — there are alternatives! Websites, like OnDeck Capital, specialize in small business loans.

These sites have less strict requirements to qualify and a speedy process. So you can get the funding you need, when you need it. How does OnDeck stack up to the competition? Let’s find out.

Note: Online Small Business Loans have a high approval rate to fund your needs but this less traditional loan route also comes at a cost — extremely high interest rates. However, if you have already been turned down by the bank or you need the money very fast and plan to pay it back quickly, this is an option to consider. We just want to make sure you are aware of the high interest rate to expect when applying for this non-traditional loan.

Visit OnDeck WebsiteOnDeck logo

Article Overview


4.6 / 5
Speed of Approval & Funding 5.0
Qualifications for Approval 4.5
APR Rate 4.0
Loan Amounts & Payment Terms 4.5
Customer Service 5.0


  • Approval and funding often within one business day
  • Loans up to $500,000 (higher than most)
  • Wide variety of payback term options
  • Consumers report higher loan amount approvals compared to others
  • Excellent customer support via live chat, phone and email
  • Line of Credit option up to $100,000


  • Requires $100,000 in annual revenue
  • Must be in business for a minimum of 1 year
  • Average APR of 20-50% (if you include origination and other fees) as of 3/5/18
  • Requires personal guarantee (but no collateral)
  • No prepay discount with OnDeck Loans
  • No Merchant Cash Advance available

Key Features

  • BBB accredited with A+ rating (and 3.5/5.0 from 86 customer reviews at time of writing)
  • In business since 2007
  • More than $8 billion loaned to 80,000 small businesses in 700+ industries
  • 100% focused on small businesses
  • Offers short-term and long-term loans up to $500,000
  • 50% less expensive than a merchant cash advance
  • Featured in Forbes, Inc. 500, Business Week and dozens of other positive media articles
  • Over 93% 5-star ratings on TrustPilot

What Do Borrowers Have To Say?

Below is a sampling of online feedback we found from real On Deck Capital customers. We do extensive consumer feedback research with every company and product we review. And we have to say, we rarely see such an overwhelming number of positive reviews for a company!

Positive OnDeck Reviews

OnDeck has been great for us. The rep is considerate and took the anxiety out of the situation. We are small and it’s difficult to find funding that we can afford, they have been great! – Valerie W., Trustpilot 2/1/2018

So far it has been a very strong relationship. I’ve been with [OnDeck] over 2 years, They are high of interest, but they are willing to take chance with you…To pay 55% interest on a loan is a big deal. But the Again i have working capital. if that capital is making me money I couldn’t do before then this a good thing. – Craig M., BBB 8/25/2017

Negative OnDeck Reviews

I have had a bad experience with staff. They are not knowledgeable . In particular Leanna G*** I have done business in the past with can capital they are so much better. Steve K., BBB 11/9/2017

Ondeck stated on their website that they can give an answer in short order no later than 1 business day after request. Long story short applied, gave all requested documents within minutes of the applications submissions and 3 business days later I had to initiate a call. At that time I am told that they called me, (Not true) and that they sent an e-mail, also not true. I can take good or bad news, the only thing I ask a business partner is to communicate. At this Ondeck has failed miserably. – Rob, Trustpilot 10/2/2017

Why Choose OnDeck?

Check out the following video from The Street where Noah Breslow, OnDeck CEO, sheds light on OnDeck’s interest rates. He explains that they are one of the only non-bank alternatives for small businesses that charge a significantly better interest rate than merchant cash advances.

What’s Our Final Verdict?

We consider OnDeck to be a solid option for your business loan needs. But how do they stack up against other lenders? Find out in our small business loans comparison, where we thoroughly analyze 11 of the top rated lending sites. You can also learn more about OnDeck in our interview their Finance Expert, Ty Kiisel.

Care to share any experiences you’ve had with small business loans? 

Disclaimer: This website contains reviews, opinions and information regarding products and services manufactured or provided by third parties. We are not responsible in any way for such products and services, and nothing contained here should be construed as a guarantee of the functionality, utility, safety or reliability of any product or services reviewed or discussed. Please follow the directions provided by the manufacturer or service provider when using any product or service reviewed or discussed on this website.

Sally has coupled her passion for writing with her (slight) obsession for the latest high tech gadgets. While she’s not daydreaming about the beach, she’s taking advantage of all the activities her hometown has to offer in the Blue Ridge foothills.

Leave a Reply

newest oldest most voted
I have a small business and am sadly hardly keeping it a float. Have been trying to get a loan through the bank and/or ask friends and family for money but haven’t been successful at either one. So I’m so happy that I discovered this and am excited to apply and see if I can get some funding for my shop!