Major Clients:
Confidential
Revenue:
$250 million - $500 million
Year Founded:
2007
Pricing:
M
Fulltime Employees:
500 - 1,000
Active Clients:
72
Client Retention Rate:
93%
Social:

Major Clients:
Confidential
Year Founded:
2007
Fulltime Employees:
500 - 1,000
Active Clients:
72
Client Retention Rate:
93%
Revenue:
$250 million - $500 million
Pricing:
M
Secondary Services:
Social:

About - OnDeck Capital, Inc.

Lorna Hagen, Chief People Officer

Kamran Siddique, CEO

1400 Broadway, 25th Floor | New York, New York, 10018

OnDeck is a hugely prolific online small business lender.

Founded in 2007, OnDeck became one of the first lenders to rely primarily on technology to make their lending decisions. With their algorithms, decisions that used to take days or weeks can now only take minutes. Currently, OnDeck offers two types of business loans:

short-term loans and revolving lines of credit. Many businesses will qualify for a loan from OnDeck — if you have been in business at least 12 months, make at least $100,000 annually, and have a personal credit score above 600, you have a good chance of qualifying.

Those who are eligible will find that OnDeck’s loans are fast and helpful for a variety of business financing needs. That said, OnDeck’s loans can be a bit expensive. According to OnDeck’s latest quarterly report (Q1 2019), their short-term loans typically have APRs that range from 11.9% –

99.4%, and line of credit APRs range from 11% – 57.9%. Naturally, however, the rate you’re personally offered will depend on the strength of your business.

In addition to the cost, OnDeck loans have a maximum repayment term of 36 months, so those who need a longer term length might want to look elsewhere. Because OnDeck’s loans can be a bit expensive, you may want to make some comparisons before settling on a lender. However, if you need a loan fast or don’t qualify elsewhere, it’s hard to beat OnDeck.

Despite the potential drawbacks, OnDeck is transparent, customer service is easy to get in touch with, and overall, most customers report positive experiences.

OnDeck Capital, Inc. Reviews

Helpful (0)

Socorro Ruiz

1 contributions
0 helpful votes

Positive Review

January 18, 2019

Reviewed on Jan 18, 2019

Overall Feedback:

Was able to start with a decent loan to try out service. It was an easy process. Disclosures were clear. Hope to make a huge dent in debt with easy auto debit. Thank you David!

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