Lender Summary

Small business financing made simple, because getting a loan shouldn’t feel like a second job.

What they're saying

Ratings & Reviews
692 Reviews
  • Interest Rates
  • Fees & Closing Costs
  • Responsiveness
  • Customer Service

Review Breakdown

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.

Hi Kevin, we at OnDeck launched the SMART Box because we believe in the transparency of our pricing. The SMART Box is a tool to help small business owners understand and compare the cost of capital. All of our loan documents include total cost, cents on dollar, APR and average monthly payment so that small business owners can see exactly what they’re paying back in a manner that’s most helpful for them. We quote our loans in simple interest or “cents on dollar” so that, in addition to rate, a borrower’s total cost of capital is clear from the start. When looking at a short-term loan, like from OnDeck, the total payback will be lower than a traditionally long-term loan, which uses APR. We've lent over $5B over the past 10 years and hear from customers that financing has helped their businesses grow; ultimately, we believe it's important for each small business owner to decide what type of financing is best suited for them. If you would like to discuss further, please feel free to contact us.
  • LendingTree Customer:

  • Loan Type:

    Small Business Loan
  • Review Type:

    Lender Review

Great new online lender. Banks watch out.

I did look at OnDeck for small business loans. Great company. I met my capital needs with family funds but a great company indeed.

  • LendingTree Customer:


Thank you for sharing your experience

Here are a few tips for writing a top-notch review for a company in our marketplace:



Customer Satisfaction rating is based directly on customer ratings and reviews. Customers rate lenders on their customer service, interest rates, fees and closing cost and overall experience.

LendingTree Certification:

The LendingTree Certification Program recognizes Lenders and Loan Officers with outstanding performance on the LendingTree Network, they are committed to providing exceptional customer service and are graduates of LendingTree University.

LendingTree Certification:

  • Certified Lender
    Certified Lenders have demonstrated their organizational commitment to employee development, at least 50% of their loan professionals have been certified while also providing exemplary service to LendingTree consumers.

Loan Officer Certifications:

  • Gold Leaf
    Gold Leaf is the cornerstone of the loan officer certification program and is designed to recognize loan officers committed to their own professional development while adhering to LendingTree best practices. Gold Leaf recipients know the fundamentals of LendingTree and online lending, they are equipped with the necessary skills to be best-in-class loan professionals.
  • Certified President's Club
    President’s Club is presented to an elite group of loan officers based on success levels in several areas including adherence to LendingTree best practices, commitment to professional development and dedication to customer excellence. Recipients have also met all Gold Leaf criteria.


Let's answer a few short questions and see what offers OnDeck and other lenders may have for you.