OnDeck

OnDeck is a business financing provider that operates in the US, Canada and Australia. They offer a number of different business loans in Canada. OnDeck has been in business in Canada since 2008. OnDeck is committed to serving customers with the innovative financing solutions and world-class service.

OnDeck Canada offers Term Loans, Lines of Credit, and Flex Fund advances to Canadian small businesses. There is one application for all of OnDeck's financing products, and it will evaluate which type of financing best fits your business's cash flow and needs.

The interest rate on a OnDeck loan ranges, depending on the type of loan. OnDeck business term loans start at 8%, their line of credit loans starts at 19.99% and an OnDeck merchant advance loan interest rate varies.

OnDeck Canada has a variety of financing options to suit your needs. To qualify, your business should be based in Canada with a minimum of 6 months in business. You must also have a minimum of $100,000 in annual revenue. Contact a lending advisor at (877) 781 - 0148 to see what options are available to you.

Basic business information, basic information about you – the owner, and your most recent business bank statements.

The loan proceeds are usually deposited directly into your bank account.

OnDeck works with more than 700 different kinds of businesses including restaurants, retailers, auto repair shops, healthcare professionals, and many other service providers.

OnDeck is available anywhere in Canada.

You can apply for an OnDeck loan online or they can be contacted by phone from 9AM – 6PM EST, Monday through Friday.

OnDeck is a member of the Canadian Lender Association and they have over 100,000 customers globally with over $13 billion funded. They have been featured in popular publications like Reuters, Lend Academy, Fox Business, Forbes, Business Insider, Trustpilot, Better Business Bureau, News Wire, New York Times, PBS, and many more!

Financing ranges from $5,000 - $300,000 over terms of 6-18 months.

Terms on OnDeck loans range from 6-18 months if it's a business term loan, 6-24 months for their line of credit and flex funds advance term length is flexible.

OnDeck's application process is simple and typically takes about 10 minutes.

OnDeck can deliver decisions in minutes, and funding in as fast as 24 hours.

OnDeck Canada financing is not unsecured. However, they do not require any specific amount, type or value collateral and no appraisal or specific assets are required. OnDeck's financing is secured by a general lien on the assets of the business and backed by a personal guarantee. OnDeck does not take personal assets of the guarantors as collateral.

Depending on the financing selected, OnDeck deducts an agreed upon amount or % of card sales from your business bank account on a daily basis. These daily payments help ensure minimal impact to your cash flow and are proven to prevent the snowball effect often caused by missing larger monthly payments. As a customer, you will have access to an online account where you can monitor your balance and your payment activity 24/7/365.

You can contact OnDeck via phone, email, their online web chat, and help centre/blog.