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FAQs

About Our Loans

Who is On Deck?

What are the amounts and terms of an On Deck loan?

Does On Deck offer merchant cash advances or true small business loans?

What can I use my loan for?

How are On Deck loans repaid?

Eligibility

What industries does On Deck make loans to?

Is my small business eligible for a loan with On Deck?

I don't have great personal credit. Can I still get a loan with On Deck?

I've been denied by my bank before. Can I still get a loan with On Deck?

The Process

What is the application process?

What information do you need from me to apply?

How quickly does On Deck submit funding decisions?

How fast can I receive funds?

Can I apply for a second loan if I need additional financing?

 

Who is On Deck?

We started in 2007 with the simple mission of helping small businesses access capital. To date, we've delivered over $275 million nationwide. 

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What are the amounts and terms of an On Deck loan?

On Deck offers loans ranging from $5,000 - $150,000, with terms between 3 - 18 months. 

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Does On Deck offer merchant cash advances or true small business loans?

No. On Deck offers true business loans with fixed terms and payments, which is typically up to 50% less expensive than a merchant cash advance. Also, On Deck reports your payment history to the credit agencies, whereas there are no credit benefits to using a merchant cash advance. 

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What can I use my loan for?

Many small businesses use On Deck financing for purchasing inventory, equipment, launching a marketing campaign, hiring additional employees or even general working capital.

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How are On Deck repaid?

On Deck uses Daily Direct DebitSM® payments, which are made directly from your business bank account each business day. These fixed, daily payments are proven to prevent the snowball effect often caused by missing larger monthly payments. We will inform you of your exact payment amount, and our online loan management portal allows you to monitor the activity.

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What industries does On Deck work with?

On Deck works with over 250 different kinds of businesses. We make loans to restaurants, auto repair shops, retailers, doctors, beauty salons, HVAC contractors and many other service providers. To get started, click here

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Is my small business eligible for a loan with On Deck?

To apply, your business should have the following characteristics:

  • 1+ year in business
  • $100,000+ in annual revenue
  • US-based 

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I don't have great personal credit. Can I still get a loan with On Deck?
 
Yes. At On Deck we know that your personal credit score doesn’t reflect the true health of your business. That’s why our system values things like cash flow over credit scores when we analyze your business. Click here to apply.

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I've been denied by my bank before. Can I still get a loan with On Deck?

Yes. Our system judges small businesses differently than the banks, with a focus on cash flow instead of personal credit scores or collateral. This means that we can lend to many businesses who may have been denied by their bank. Click here to apply.

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What is the application process?

Applying for an On Deck loan is simple. You can apply online in minutes or over the phone by calling 1-800-269-4246. We typically provide funding decisions within 1 business day. 

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What information do you need from me to apply?

Depending on your loan amount, we may ask for:

  • Business Tax ID 
  • Credit card statements for the previous 3 months 
  • Bank statements for the previous 1 to 3 months
  • Social Security number of business owner(s)
  • Drivers license number and state of issue

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How quickly does On Deck submit funding decisions?

On Deck can provide decisions in as fast as 1 business day. 

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How fast can I receive funds?

On Deck can provide funding in as fast as 2 business days.

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Can I apply for a second loan if I need additional financing?

Yes. Once you have successfully repaid 50% of your loan, you are eligible to apply for another loan to continue building your business.

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