Line of Credit by OnDeck

Line of Credit by OnDeck

OnDeck offers business term loans up to $500,000 and business lines of credit up to $100,000 to qualifying small businesses. The process is simple and looks at the overall health of a business rather than personal credit alone. Their quick application requires little to no paperwork. Decisions can be given in minutes, and funding is delivered in as fast as 24 hours. Apply today!

Cost
40% Complete
LowHigh
Effort to Apply
20% Complete
EasyDifficult
Funding Speed
30% Complete
MonthsMinutes
Repayment Terms
30% Complete
MonthsYears

8/10

Bottom Line

A line of credit can be a great asset to your business. It allows you the flexibility to draw funds when you need it, and you only pay interest on what you use.

Pros

Minimal Paperwork. Fast Approval & Funding. Transparent pricing.

Cons

Established businesses only. You only have 6 months repayment for each draw.

Qualification requirements

Time in Business

At least 1 year

Annual Revenue

At least $100,000

Other Requirements

600+ personal credit score. Stable business checking account balances and frequent business checking transactions.

Cost
As low as 13.99% APR; Average 30% APR
Repayment Terms
Weekly payments for up to 6 months per draw
Funding Amount
$6,000 - $100,000
Funding Speed
As fast as 1 day.
Application
All digital. May require some phone communication.

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