OnDeck

Founded in 2007, OnDeck has emerged as a leading online lender specializing in business funding solutions that prioritize speed, accessibility, and customer service. The company has transformed the small business lending landscape by leveraging technology to streamline the application and approval process, making capital more accessible to businesses that might struggle to secure traditional bank financing. With over $14 billion in loans delivered to more than 125,000 customers, OnDeck has established a significant footprint in the alternative lending market.

OnDeck's core products include term loans with amounts ranging from $5,000 to $500,000 and lines of credit up to $100,000. What sets their offering apart is the emphasis on speed and convenience. Their proprietary technology platform allows for quick underwriting decisions, often delivering funding within 24-48 hours of application approval. This rapid turnaround makes OnDeck particularly valuable for businesses facing time-sensitive opportunities or challenges. Rather than focusing exclusively on credit scores, OnDeck's evaluation process considers a broader range of business health indicators, including cash flow, business history, and industry outlook.

The company's customer-centric approach is reflected in their transparent fee structure and dedicated customer service. Each borrower is assigned a personal loan advisor who provides guidance throughout the funding process and remains available for ongoing support. For businesses that may not qualify for traditional bank loans or need funding more quickly than banks can provide, OnDeck offers a viable alternative with higher approval rates and significantly faster processing times. Their focus on building long-term relationships has resulted in a high percentage of repeat customers who return for additional funding as their businesses grow and evolve.