5.0 of 5starsRead Reviews
Small business financing made simple, because getting a loan shouldn’t feel like a second job.
Poor service - no care.
Horrible Company - We had business loan with OnDeck, everything was fine until the last payment - we paid it as planned, and they rejected the payment and sent it back. We queried it, and they said they would look into it, (perhaps we had overpaid). Next thing we know, they had assigned us to a collection agency! - Zwicker and Associates - Horrible Rude and aggressive people. They Harassed the owner at his home repeatedly called and harassed me at home so much that I had to block their number, and have started harassing our staff. We asked Ondeck to intervene - but they've told us they are overworked because of the Covid crisis. We have told them if we need to pay that amount again, we would do so - but they have not come back to us, and we still get harassed daily by aggressive and rude people from Zwicker. OnDeck don't seem to care. Stay clear, get a business loan somewhere else.
Update - Ondeck are not responding to emails or calls. Their agents continue to use bad practices for collections - rude, threatening. If this is a company on deck chooses to associate with, please find your business loans elsewhere. They are refusing to deal with their own error, despite proof being provided.
Closed with Lender:
They SOLD my personal information!
After I filled out information regarding some small business lending from lending tree, I decided it was not the route we should take... Then they sold my info and I'm harassed daily by other lending companies!
Exhaust all other options before using OnDeck
They were happy to loan money for my business. The rates are 47%APR, payments taken daily from merchant services over a period of 18months. They charged $2500 origination fee, and you can not pay off early without penalty. They will get every dime even if you pay off early. For example, if you take the loan today and want to pay it off tomorrow you will pay 100% of the principle and 75% of the interest at loan maturity. Basically, you can pay off early but it won't save you anything in interest. Do not work with them unless you are desperate for working capital and have exhausted all other options. Also, go to the Better Business Bureau New York and read all of the complaints. Do not let the A+ BBB rating fool you. Plenty of people have complained.