OnDeck APR calculator
OnDeck offers business term loans from $5,000 to $400,000 with repayment terms of up to 24 months and fixed daily or weekly payments. They also offer business lines of credit from $6,000 to $200,000, with repayment terms of up to 12, 18, or 24 months, and interest charged on the amount you draw.
While OnDeck offers fast funding, it can be more expensive than traditional financing like banks and SBA loans. For loans originated in the half-year ending June 30, 2026, OnDeck reports an average APR of 53.2% for term loans, and an average APR of 59.8% for lines of credit.
Using Nav’s OnDeck APR calculator, enter your loan amount, origination fee, payback amount, and number of payments to estimate your APR, and to help compare financing options.
Estimate your OnDeck loan APR
How to use the OnDeck APR calculator
Most of us have seen the term APR (annual percentage rate) when shopping for a credit card, mortgage or auto loan. An APR is designed to disclose the full cost of a loan, including interest and most fees.
Lenders are required under the Truth In Lending Act to disclose an APR for consumer loans, but it’s not typically required for business financing. In recent years, a few states have begun requiring an APR disclosure for many types of business financing.
To use this OnDeck loan calculator, you’ll need these four figures from your offer:
- Loan amount: The stated amount of the loan.
- Origination fee: A fee the lender charges for originating the loan. OnDeck currently charges an origination fee of up to 4% for new term loan borrowers while repeat borrowers may eventually qualify for lower origination fees (as little as 0%).
Total payback amount: The amount you’ll repay over the life of the financing. - Number of payments: The total number of payments required under the offer.
If you don’t understand where to find the numbers you need, talk with customer support. You should never take out a loan without fully understanding the terms.
Illustrative example
Funding amount | $75,000 |
Origination fee | 2.5% |
Total payback amount | 98,250 |
Number of payments | 252 (daily) |
APR | 64.28% |
What's the difference between APR and interest rate?
APR and interest rate are related but not identical. The interest rate represents the cost charged for borrowing the principal loan amount offered. It generally incorporates loan fees such as origination costs.
Some types of business financing use other terms — such as factor rates — to describe costs. A factor rate of 1.5%, for example, means you must pay back 1.5 times the amount of financing received, plus any applicable fees.
An APR can make it easier to compare costs at a glance, but it doesn’t always answer the question of which financing is best for what your business needs now.
OnDeck fees that may affect your APR
For OnDeck term loans, the current origination fees range from 0% to 4%. That fee will be deducted from your loan proceeds, so the money you receive will be less than the stated loan amount.
OnDeck’s current business line of credit does not charge annual fees, monthly fees, or draw fees.
With the term loan, qualifying borrowers who receive OnDeck’s 100% prepayment benefit can have their remaining interest waived if they repay early. Without that benefit, OnDeck states that a borrower who repays the loan early is still responsible for 75% of the remaining unpaid interest.
OnDeck term loan | OnDeck line of credit | |
Amount range | $5,000–$400,000 | $6,000–$200,000 |
Term | Up to 24 months | 12, 18, or 24 months |
Payment frequency | Daily or weekly | Weekly or monthly |
Fees | 0–4% | No annual, monthly or draw fees |
Average APR | 53.2%* | 59.8%* |
Considerations | Up to 4% origination fee for first term loan; may decrease to as low as 0%. | $1,000 minimum first draw required |
*For half-year as of June 30, 2026 according to OnDeck.
How do I get a lower APR?
The APR you receive from any lender is rarely determined by a single factor. In the case of OnDeck, your cost may take into account your personal credit scores, the amount of financing, repayment terms (shorter terms may qualify for the lowest rates), and the overall financial health of your business.
OnDeck checks personal credit, using a soft credit check that doesn’t affect credit scores. Other lenders may check personal credit, business credit, or both. For that reason, it’s always a good idea to check both personal and business credit before you apply for business financing.
Why do short-term loan APRs look so high?
APR is designed to express costs as an annual percentage rate to make it easier to compare different financing products. If you were to spread the same amount of interest or fees over a longer time period, the APR would be lower. The short-term nature of some loans may mean the APR is high, even when the dollar amount you must pay back appears reasonable.
That doesn’t mean it’s not useful, though. If other costs are equal, a loan with a higher APR will be more expensive. In the case of OnDeck, its transparency tool separately presents APR, and total cost so borrowers can evaluate financing from various angles.
For business owners, three of the most important questions they can ask themselves when evaluating financing is whether the terms of the financing they are offered are the best they can get based on their current qualifications, whether they are confident they can repay the financing on the terms they are offered, and whether they can still make a profit after paying those costs.
