Compare FundBetter vs. OnDeck
OnDeck is a direct lender offering term loans up to $400,000 and lines of credit up to $200,000, and it publishes its minimums and its average APRs. Our eight funding products run from $5,000 to $5M, with a lower general credit starting point. If you're weighing OnDeck alternatives, this is how the two line up, and every OnDeck fact comes straight from its own pages.
Checked against OnDeck's pages, November 4, 2026
Which one fits your business?
Pick the list that sounds like your business.
Choose FundBetter if
- Your personal credit score is below OnDeck's 625 minimum. As a general starting point we work with businesses at 500 and up.
- You've been open for at least six months but less than a year, under OnDeck's one-year minimum.
- You need more than $400,000, or a term longer than 24 months. Our long-term loans run up to 5 years.
- You want equipment financing, invoice factoring, an SBA loan or a merchant cash advance, none of which OnDeck lists as a product.
Choose OnDeck if
- You want to see average APRs before you talk to anyone. OnDeck publishes them, and we don't publish rates.
- You want one direct lender from application to funding. OnDeck says there's no third party involved.
- You meet its minimums and can complete checkout before 10:30 a.m. ET on a weekday, which is the window for same-day funding.
- You want a line of credit with no origination, monthly or draw fees, and draws in seconds once you've registered for Instant Funding.
Feature by feature
The same 18 rows on every comparison we publish.
| Feature | FundBetter | OnDeck |
|---|---|---|
| Who funds you | ||
| How funding is provided | Lender and funding marketplace We may connect you with vetted third-party lenders and funding partners. You work through one advisor and one application. | Direct lender1 Your loan may be issued by a member of the OnDeck family of companies or by Celtic Bank. |
| What you can get | ||
| Business line of credit | Yes $5K to $5M, weekly or monthly payments | Yes1 $6K to $200K, with 12, 18 or 24 month repayment. |
| Short-term loan | Yes $5K to $5M over 3 to 18 months | Yes4 Term loans from $5K to $400K, up to 24 months. |
| Long-term loan | Yes Up to $5M over 1 to 5 years | Not listed Its term loans run up to 24 months. |
| SBA loan | Yes Up to $5M over 10 to 25 years | Not listed |
| Equipment financing | Yes Up to 100% of the cost over 1 to 6 years | Not listed Buying equipment is a stated use of its loans, not a separate product. |
| Invoice factoring | Yes Advances of up to 90% | Not listed |
| Merchant cash advance | Yes $5K to $5M, repaid as a share of sales | Not listed |
| Revenue-based financing | Yes $5K to $5M, repaid as a share of revenue | Not listed |
| Funding range | $5,000 to $5M Varies by product and business | $5,000 to $400,0002 It says loans of $400K are only for select customers with strong credit profiles. |
| What it takes to qualify | ||
| Credit score | Around 500 520 for a merchant cash advance and 700 for a long-term loan | 6252 Personal FICO score of the business owner. |
| Time in business | 6 months 1 year for equipment financing, 2 years for long-term and SBA loans | 1 year2 |
| Revenue | About $15K a month $500K a year for a long-term loan | $100K a year2 A business checking account is also required. |
| Speed, cost and terms | ||
| Fastest stated funding | As fast as 24 hours That is the fastest case. Invoice factoring takes 24 to 48 hours. | Same day2 Checkout must be done by 10:30 a.m. ET, Monday to Friday. Otherwise funds take 2 to 3 business days. |
| Checking your options | Soft inquiry, no effect on your score A hard pull only happens later, with your permission, if you move forward with certain offers. | Soft check, no effect on your score2 |
| What it publishes on cost | No published rates Cost depends on the product and your offer, and every cost is disclosed before you sign. | 53.2% average APR on term loans, 59.8% on lines2 Averages for loans originated in the half-year ending June 30, 2026. Term loans carry a 0% to 4% origination fee. Lines carry no origination, monthly or draw fees. |
| Paying off early | Depends on your agreement Early payoff reduces the cost on many short-term loans, and some agreements charge the full amount regardless. | Term: you may still owe interest. Line: no penalty2 On a term loan, you may still need to pay a portion of the unpaid interest. |
| Where it lends | United States We do not publish a list of excluded states. | All states except North Dakota2 Other underwriting requirements may apply. |
"Not published" means we couldn't find it on OnDeck's own pages on November 4, 2026. "Not listed" means it isn't among the products OnDeck lists. FundBetter's figures are general starting points, not a guarantee of approval.
What if your credit score is under 625?
OnDeck publishes clear minimums: one year in business, $100,000 in annual revenue and a 625 personal FICO score. That's useful, because you can tell in ten seconds whether it's worth applying.
The question for any lender is whether its bar applies to the product you actually need. Ask what happens to your application if you miss a minimum by a little, and whether there's another product you'd fit.
We look for about $15K in monthly revenue, six months in business and a credit score of around 500. Some products ask for more: 520 for a merchant cash advance, one year for equipment financing and 700 for long-term business loans. Those are FundBetter's numbers.
What will the money actually cost?
OnDeck publishes its average APRs: 53.2% on term loans and 59.8% on lines of credit, for loans originated in the half-year ending June 30, 2026. That gives you a real benchmark before you've spoken to anyone. We don't publish rates, so on this point OnDeck tells you more up front.
Whichever lender you use, ask for the total you'll repay, how often payments come out, every fee, and whether it's quoted as an APR or a factor rate. A factor rate and an APR measure cost differently, so the two can't be compared directly.
We show you the full cost before you sign. You can run your own numbers first with our business loan calculator, or convert a quote with our merchant cash advance calculator.
Does paying early save you anything?
OnDeck's line of credit has no prepayment penalty, so paying a draw down early can bring down what it costs you. It's also upfront that the term loan works differently: pay it off early and you may still need to pay a portion of the unpaid interest, as stated in your loan agreement.
Ask any lender what you'd save by paying off in month six, in dollars. The answer changes which offer is cheaper, especially on short terms.
With us it depends on your agreement. On many short-term business loans early payoff reduces the remaining cost, and some agreements charge the full amount regardless. Ask us which applies to your offer before you sign.
Frequently asked questions
Is FundBetter an alternative to OnDeck?
Yes, particularly if you don't meet OnDeck's minimums or need a product it doesn't list. OnDeck requires a 625 FICO score, one year in business and $100,000 in annual revenue. Our general starting point is around 500, six months and about $15K a month, with higher bars on some products.
What credit score do you need for OnDeck?
OnDeck's stated minimum is a 625 personal FICO score for the business owner, along with one year in business and $100,000 in annual revenue.
How much does an OnDeck loan cost?
OnDeck says its average rate is 53.2% APR on term loans and 59.8% APR on lines of credit, for loans originated in the half-year ending June 30, 2026. It adds that the lowest rates are very limited. Term loans also carry a 0% to 4% origination fee.
Is OnDeck legit?
OnDeck says it has delivered more than $25 billion to over 185,000 businesses since 2006, and it reports an A+ rating with the Better Business Bureau. That's its own account, so read any agreement closely and look up its record yourself.
Who are OnDeck's competitors?
OnDeck competes with funders such as National Funding, Bluevine and marketplaces like Lendio, along with us. The closest comparison depends on whether you need a loan, a line or a way to compare several lenders.
Does OnDeck offer SBA loans or equipment financing?
OnDeck lists two products, term loans and lines of credit. Buying equipment is a stated use for them, but it doesn't list equipment financing or SBA loans as separate products. We offer both.
How did we check these facts?
Every OnDeck fact here comes from OnDeck's own pages, read on November 4, 2026, and none of them come from review sites or other lenders. If you spot a change, tell us and we'll re-check it.
Sources
- OnDeck home (seen November 4, 2026)
- OnDeck FAQ (seen November 4, 2026)
- OnDeck line of credit (seen November 4, 2026)
- OnDeck term loans (seen November 4, 2026)
FundBetter is not affiliated with, endorsed by or sponsored by OnDeck, and OnDeck is a trademark of its owner. Terms change, so confirm the current terms with each company before you decide.
See also: FundBetter vs. National Funding · FundBetter vs. Lendio · FundBetter vs. Bluevine · all comparisons
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