OnDeck

Avg. Rating: 5.0 (7 reviews)

Created to support and empower small businesses, OnDeck is 100% committed to serving our customers with the smartest financing solutions and world-class service. OnDeck is the secure financing service that business owners everywhere can truly rely on.

OnDeck offers flexible terms and rates based on your business’ performance and offers a quick response to loan applications. If approved, it is possible to be funded in as fast as one business day.

 

Read our In-Depth OnDeck Review here. 

 

OnDeck is a member of the Canadian Lenders Association:

 

  • TIME IN BUSINESS: Since 2008 in Canada
  • # OF CUSTOMERS: Over 100,000 Globally
  • TOTAL FUNDED: Over $12B USD Globally
  • LOANS OFFERED: Business Term Loan, Merchant Cash Advance, Line of Credit
Apply for Business Financing from OnDeck

1-855-626-6912

info@ondeck.ca 1100 Rene-Levesque #1825 Montreal, Quebec
Call Center: Monday to Friday: 9AM-9PM EST
Support Offered:
  • Web Chat
  • Help Center/Blog
  • Email Support
Availability: All of Canada

Products Offered

Below are all the products offered by this company.

Conditions & Rates

Rate Starting at 8% Amount $5,000-$300,000 Term Fixed, 6-18 months

Eligibility & Documents

Who is eligible

  • At least 12 months in business
  • Annual revenue of at least $120,000
  • Credit score of at least 550

What you need to provide

  • Online application
  • 3 months of business bank statements
  • Deals over $100,000 require most recent accountant prepared financials

Repayment & Issuance

How fast can you get the money As little as 24 hours Funding method Direct Deposit

How does repayment work Fixed daily repayments from bank account

Conditions & Rates

Rate Not applicable Amount $5,000-$300,000 Term Flexible

Eligibility & Documents

Who is eligible

  • At least 6 months in business
  • Annual revenue of at least $100,000
  • Credit score of at least 550

What you need to provide

  • Online application
  • 3 months of business bank statements
  • Deals over $100,000 require most recent accountant prepared financials

Repayment & Issuance

How fast can you get the money As little as 24 hours Funding method Direct Deposit

How does repayment work Flexible daily repayments based on a percentage of processing sales

Conditions & Rates

Rate Starting at 19.99% Amount $6,000-$50,000 Term 6-24 months

Eligibility & Documents

Who is eligible

  • At least 12 months in business
  • Credit score of at least 600
  • Annual revenue of $120,000 or more in last 12 months

What you need to provide

  • Online application
  • 3 months of business bank statements

Repayment & Issuance

How fast can you get the money As little as 24 hours Funding method Direct Deposit How does repayment work Weekly repayments

Articles About OnDeck

By Jared Lindzon

Jared Lindzon is an experienced journalist, writer and public speaker. He specializes in Business, Technology, Lending and FinTech industries in Canada and abroad. Jared is a regular contributor to Smarter Loans and top tier publications around the World, including Fortune Magazine, Fast Company, the Guardian, Rolling Stone, the Globe and Mail, and many more.

By Smarter Loans

Smarter Loans is Canada's online loan directory for any type of financing. The website helps Canadians find reputable lenders & financial companies all over Canada and compare their products, rates, and terms in one place.

By Mashoka Maimona

Mashoka is a journalist for the London Press and the National Post, currently specializing in finance, business and technology.

Articles by OnDeck

By Ty Kiisel

There are more small business loan options available today than ever before, but finding the right loan for your business may require a little digging. Fortunately, there are plenty of great options available – you just have to know where to look.

Frequently Asked Questions About OnDeck

What is 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.

Is OnDeck Safe?

OnDeck is a member of the Canadian Lender Association and they have over 100,000 customers globally with over $12 Billion USD funded globally. They have been featured in popular publications like Reuters, Lend Academy, Fox Business, Forbes, Business Insider and more.

What Products and Services Does OnDeck Offer?

OnDeck offers innovative business financing solutions that include business term loans, merchant cash advance and a line of credit.

How Much Can I Borrow from OnDeck?

OnDeck loans are between $5,000 and $300,000, depending on the type of loan you're applying for. Their fixed term loans and flex funds are from $5,000 to $300,000, and their line of credit ranges from $6,000 to $50,000.

What Is the Interest Rate on an OnDeck Loan?

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.

What Is the Term Length for an OnDeck Loan?

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.

How to Qualify for an OnDeck Loan?

The qualifications vary depending on which OnDeck loan you apply for. For example, if you're looking into a flex funds advance and business term loan then you'll need to be in business for at least 12 months, earn $100,000+ in revenue annually (earn $100,000 annually for a flex funds advance loan), have a credit score of minimum 550, and provide 3 months of bank statements. If you're applying for a line of credit then in order to qualify, you'll need to have been in business for at least 12 months, have a credit score of 600 minimum, earn an annual revenue of $100,000 or more in the last 12 months and provide 3 months of business bank statements.

Can I Apply Online for an OnDeck Loan?

Yes, you can apply online for an OnDeck loan or you can also call them. Just make sure to have your basic business information ready.

How Fast Can I Get a Loan from OnDeck?

You can expect a call from your dedicated lending expert to discuss your offers within one business day. If approved, you'll choose your term, amount, etc. and are likely to receive loan funds in as little as 48 hours.

How Will OnDeck Send Me the Loan?

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

How Does Loan Repayment Work at OnDeck?

OnDeck loans are repaid through pre-authorized payments from your bank account, either weekly or daily.

Which Provinces Is OnDeck Available in?

OnDeck is available anywhere in Canada.

What Kind of Customer Support Does OnDeck Offer?

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

What are OnDeck Working Hours?

You can apply for an OnDeck loan online or they can be contacted by phone during 8AM - 9PM EST, Monday to Friday and Saturday from 9AM to 5PM EST.

OnDeck Reviews

Avg. Rating: 5.0 (7 reviews)
Reliable, fair and convenient

Fair rates. Fast Deposits. Easy to use. Good customer service. A great way to have automatic deposit from customers that write your business cheques.

Julia
Amazing

It was so simple to apply,got approved immediately.

Jack
Absolutely awesome Team #1

Very professional, amazingly quick response time.Fabulous teamwork and follow up.We have been in business for 40 years and On Deck is by far the most reliablefinancial team I ever dealt with.Thumbs Up

Oza
Very happy

Honestly, I hate submitting sensitive information online, but after speaking to On-Deck, I felt assured that it was 100% secured and private. They walked me through the application process and I got approved within a few days.

Robert G.
Lending made clear

When considering a business loan there are many important aspects that must be weighed. Anthony always provides clear answers to remove any ambiguity or concern over information. His approach is reflective of the entire OnDeck environment: simple, informative, and friendly.

Gofers LLC
Efficient

I reached out to this company for an inquiry, they were quick, answered all my questions and within 24 hours the loan proceeds were deposited in my business bank account. I am extremely pleased with the services and response time. (via Trustpilot)

Sandy
Small business loan

I recently got approved for a business loan from OnDeck. The application process was smooth and simple. Got funded within a few days.

Waseem

Compare OnDeck with another Company:

Write a Review