Line of Credit by OnDeck
Product Updates: No More Monthly Maintenance Fee! Monthly Payments and Extended Repayment Terms (18 and 24 month terms) NOW AVAILABLE!
OnDeck is America’s largest online small business lender offering business term loans up to $250,000 and business lines of credit up to $100,000 to qualifying small businesses. Their approval process considers the overall health of a business rather than personal credit alone. OnDeck’s quick application requires little to no paperwork. Decisions can be given in minutes, and funding is delivered in as fast as 24 hours.
Nav's Verdict
8/10
Bottom Line
Product Updates: No More Monthly Maintenance Fee! Monthly Payments and Extended Repayment Terms (18 and 24 month terms) NOW AVAILABLE! A line of credit can be a great asset to businesses who need capital on hand- fast. It allows you the flexibility to draw funds when you need it, and you only pay interest on what you use. Once approved, you can draw available funds quickly and easily without having to provide additional documentation.
Pros
No monthly maintenance fees. Monthly Payments available and Extended Repayment Terms (12, 18 and 24 months) Minimal paperwork. As soon as same-day approval and funding sent by next business day. Transparent pricing. Use as much as you need, only pay interest on what you use. Access available funds with one click.
Cons
Not available in all states.
Qualification requirements
Time in Business
At least 18 months
Annual Revenue
At least $120,000
Other Requirements
625+ personal credit score. Stable business checking account balances and frequent business checking transactions.
Reviews
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