OnDeck Capital Reviews: Small Business Loans, Requirements, Lines of Credit, & More

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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, specializing 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.

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 25-50% (if you include origination and other fees) as of 7/24/19
  • Requires personal guarantee (but no collateral)
  • No prepay discount with OnDeck Loans
  • No Merchant Cash Advance available

Key Features

  • BBB accredited with A+ rating
  • In business since 2007
  • More than $12 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 94% 5-star ratings on TrustPilot

What Do Borrowers Have To Say?

Below is a sampling of online feedback we found from real OnDeck 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!


The best customer service experience I’ve ever received from any company. Eric and Dylan worked flawlessly and got me funded same day we closed! 5 stars and nothing less! Will recommend to anyone needing working capital in a hurry!s. – Anthony, Trustpilot 6/16/2022

My entire experience took less than 48hrs. Within 24hrs of signing the Agreement, the money was wired to my account as promised. Interest rates are a bit high but I would rather pay a high interest to release my stress and sleep better at nights. Now, the only thing left for me is to see if the amount I agreed to is withdrawn from my account each week. I will definitely be giving an update in a week and another one after 30-days. – Edwin, Consumer Affairs 2/5/2021


This company is a ripped off. They try to get all the interest when you sign up for a loan. Because when you want to early pay off they already got all the high rate interest. You just have a very little deductible interest left. – Jack, Consumer Affairs 6/17/2022

On Deck only provides extremely high interest loans. They prey on the desperate. Also, If you try to cancel a renewal loan within the grace period they will not do it and you are stuck with a horrible loan. Of course they do not tell you that when you do the loan. I give them zero stars. Typical greedy bankers. Horrible people. They are everything that is wrong with the banking institution and their predatory loans should be banned. – Micah, Trustpilot 6/9/2022

How Does OnDeck Compare?

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 with their Finance Expert, Ty Kiisel.

About The Author:

While attending the University of North Carolina at Chapel Hill’s graduate school for journalism and public relations in the late 1990s, Sally began a long career researching and writing about business, technical and scientific topics.

Her decades of experience as well as a passion to stay on top of the latest online tools and resources combine to help small businesses (and freelancers like herself) flourish. Her work has appeared in many notable media outlets, including The Washington Post, Entrepreneur, People, Forbes, Huffington Post, and more.

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.

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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!