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Related Questions
Can I apply for a loan from OnDeck.com if I have bad credit?
Answer: While OnDeck.com does require a minimum credit score of 600 to qualify for a loan, businesses with less-than-perfect credit may still be eligible for financing. OnDeck.com takes a holistic approach to underwriting, considering factors beyond just credit score, and may be able to provide funding to businesses with credit challenges.
How quickly can I receive funding from OnDeck.com?
Answer: OnDeck.com offers fast funding options, with many borrowers receiving funding as soon as the next business day after approval. By providing quick access to capital, OnDeck.com enables businesses to address their funding needs promptly and take advantage of growth opportunities without delay.
What is OnDeck.com?
Answer: OnDeck.com is a leading online small business lender that offers term loans, lines of credit, and other financing options to help small businesses grow and thrive. With a focus on providing fast and flexible funding solutions, OnDeck.com has become a trusted resource for businesses in need of capital.
How does OnDeck.com determine loan terms and interest rates?
Answer: OnDeck.com considers a variety of factors when determining loan terms and interest rates, including the business's credit history, revenue, cash flow, and industry. By analyzing these factors, OnDeck.com is able to offer competitive rates and terms that are tailored to each business's specific needs and financial situation.
What are the eligibility requirements for a loan from OnDeck.com?
Answer: To qualify for a loan from OnDeck.com, businesses must have been in operation for at least one year, have a minimum annual revenue of $100,000, and have a personal credit score of at least 600. In addition, businesses must be based in the United States and meet other criteria determined by OnDeck.com's underwriting process.
What sets OnDeck.com apart from other online lenders?
Answer: OnDeck.com stands out from other online lenders due to its commitment to providing personalized service, fast funding, and flexible financing options. With a focus on helping small businesses succeed, OnDeck.com goes above and beyond to meet the unique needs of each borrower and provide them with the capital they need to grow and thrive.
How can I contact OnDeck.com with additional questions or concerns?
Answer: Businesses can reach OnDeck.com's customer service team by phone, email, or live chat. OnDeck.com's knowledgeable and friendly representatives are available to assist with any questions or concerns about the loan application process, funding options, repayment terms, or other inquiries. Additionally, OnDeck.com's website offers a wealth of resources, including FAQs, guides, and educational materials to help businesses make informed financing decisions.
Are there any fees associated with borrowing from OnDeck.com?
Answer: OnDeck.com charges a one-time origination fee that is included in the total loan amount. The origination fee varies based on the loan amount and term, but is disclosed upfront so borrowers know exactly what to expect. In addition to the origination fee, OnDeck.com does not charge any prepayment penalties or hidden fees.
How does OnDeck.com's loan process work?
Answer: OnDeck.com's loan process is simple and streamlined. Business owners can apply for a loan online in minutes, receive a decision within hours, and get funding as soon as the next business day. In addition to a straightforward application process, OnDeck.com offers personalized loan options tailored to each business's unique needs.
What types of financing does OnDeck.com offer?
Answer: OnDeck.com offers a variety of financing options, including term loans, lines of credit, and merchant cash advances. Each type of financing is designed to meet different business needs, whether it's funding for expansion, working capital, inventory purchases, or other expenses. OnDeck.com's flexible financing solutions make it easy for businesses to access the capital they need to succeed.