What OnDeck publishes
OnDeck offers a term loan of $5K to $400K and a line of credit of $6K to $200K, with minimums of 1 year, $100K revenue and 625 FICO.
From the OnDeck homepage (checked October 2026):
- Term loans: $5K to $400K, repayment up to 24 months.
- Line of credit: limits of $6K to $200K, with 12, 18 or 24 month repayment and a $1,000 minimum draw at origination. Instant Funding draws run $1,000 to $10,000.
- Minimum requirements: 1 year in business, a business checking account, $100K in annual revenue and a 625 personal FICO.
- Eligibility check: the page says it does not involve a hard credit pull.
- Limits: OnDeck does not lend in North Dakota or to certain restricted industries, and $400K loans are limited to select customers.
Depending on your state, the lender may be an OnDeck family company or Celtic Bank, and the loan agreement names the lender before you sign.
Cost: the number to read twice
OnDeck reports average APRs of 53.2% for term loans and 59.8% for lines of credit for the half-year ending June 30, 2026, with the lowest rates reserved for the strongest borrowers.
OnDeck's page states those average APRs openly, which is useful. It also says the lowest rates go to businesses with the strongest credit and cash flow, typically those with an excellent history with OnDeck, and that early term-loan payoff may require paying a portion of unpaid interest. The origination fee for new customers is not stated on the page.
APR on a short loan is a rate expressed per year, so a 6-month loan with a high APR may still cost a modest dollar amount. Do not stop at the percentage. Ask for total repayment in dollars and divide by what the money earns. Our total cost guide shows how.
Illustrative example: borrowing $50,000 with $8,000 total cost to buy inventory that returns $20,000 in gross profit is a fine trade. The same cost on inventory that returns $6,000 is not. Figures are illustrative only.
Speed: same-day if you hit the cutoff
OnDeck says same-day funding is possible after approval if you complete checkout before 10:30 a.m. ET on a weekday; otherwise 2 to 3 business days.
The page gives a specific rule: complete checkout before 10:30 a.m. Eastern, Monday through Friday, for same-day funding. After that, it says funds take 2 to 3 business days. It also says funds may arrive as soon as 24 hours after applying.
ROI Funder's target is money in the account the same business day on approved, complete files, where a complete file is the application plus 3 months of business bank statements. Both are fast. Neither helps if you have missing documents, so prepare before you apply.
Who clears the bar, and who does not
OnDeck's published minimums are higher than ROI Funder's on credit and time in business; ROI Funder's monthly revenue guideline works out to about $240,000 a year.
| Requirement | OnDeck | ROI Funder |
|---|---|---|
| Personal credit | 625 FICO | 500+ FICO considered |
| Time in business | 1 year | 6+ months |
| Revenue | $100K per year | $20,000+ per month |
| Amount | $5K to $400K | $5,000 to $5,000,000 |
Notice the revenue row. A business with $120K in annual sales passes OnDeck's revenue test but not ours. A business with a 560 score and $400K in sales passes ours but not OnDeck's credit test. Different filters, different applicants.
How to read an APR on a short loan
A high APR on a six-month loan can cost fewer dollars than a lower APR on a three-year loan, so convert both to dollars.
APR expresses cost as a yearly rate. On a short loan, fees and interest are squeezed into a few months, so the annualized number looks large even when the dollar cost is modest.
Illustrative example: $20,000 borrowed for six months with $2,000 total cost has a very high annualized rate, yet costs $2,000. A $20,000 loan over three years at a lower rate could cost $6,000 or more in total interest. The cheaper-feeling rate is the more expensive deal.
What to do: ask each lender for total repayment in dollars, divide by the number of months, and compare that to the extra profit the money creates. If $2,000 buys inventory that returns $7,000 in gross profit within the six months, the high APR did not stop it from being a good decision. If it buys nothing measurable, even a low rate is hard to justify. Our total cost guide has a worksheet. All figures are illustrative only.
When OnDeck is the better fit, and when we are
OnDeck fits established borrowers with 625-plus credit who want a published, structured term loan or line. ROI Funder fits those below that bar or needing more choice.
OnDeck may be better if: your credit is 625 or higher, you have more than a year in business, you want a defined term up to 24 months, and you are comfortable with its published pricing. Smaller businesses with revenue near $100K a year also benefit from its lower revenue floor.
ROI Funder may be better if: your credit is in the 500s, your business is under a year old, you need more than $400K, or you want to compare a term loan, a line of credit and revenue-based financing on one application through our 100+ funder network.
Applying with us uses a soft credit pull, which has no impact on your score, and you have no obligation to accept an offer.
Frequently asked questions
What credit score does OnDeck require?
Its homepage lists a 625 personal FICO as a minimum, along with 1 year in business and $100K in annual revenue.
Can I qualify with ROI Funder with a 550 score?
We consider 500+ FICO, along with 6+ months in business and $20,000+ in monthly revenue. Approval depends on the whole file.
Which is faster?
OnDeck says same-day funding is possible with checkout before 10:30 a.m. ET on a weekday. ROI Funder aims for same business day on approved, complete files.
Does ROI Funder charge a fee to apply?
There is no cost to apply, and applying uses a soft credit pull that does not affect your score.