Revolving LOC $6K–$200K — same-day funding, no draw fees, 1 year in business
Get started at OnDeck → Pre-qualify (where available) with a soft credit pull — no score impact.
ClearValue Rating: 3.9 / 5 — our editorial assessment (how we rate)
Editorial confidence (30%), cost (25%), value (25%), accessibility (20%) — scored consistently across every product, independent of compensation.
Established businesses (1+ year, $100K revenue, 625+ FICO) needing revolving credit with same-day draw access
OnDeck Business Line of Credit — Revolving LOC $6K–$200K — same-day funding, no draw fees, 1 year in business Best for: Established businesses (1+ year, $100K revenue, 625+ FICO) needing revolving credit with same-day draw access. Compare it against alternatives before applying; the right fit depends on your situation, credit, and goals.
OnDeck discloses that the average APR for its lines of credit was 56.6% as of June 30, 2025. This is an average across all originated accounts, not a floor or ceiling — your rate will depend on your specific credit profile, time in business, and cash-flow strength. OnDeck notes that eligibility for its lowest rates is very limited, requiring exceptional creditworthiness. The industry range for comparable non-bank LOC products runs from approximately 7% to 60%+ APR. Before signing, use a factor rate to APR calculator to confirm the effective cost on your specific offer.
No. OnDeck states it does not charge annual fees, monthly fees, or draw fees on its business line of credit. There is also no prepayment penalty if you pay off the balance early. The primary cost is the interest accruing on the outstanding drawn balance. This is a notable difference from some non-bank LOCs, which charge a percentage fee on each draw in addition to interest.
OnDeck requires a personal FICO score of 625 or higher, at least 1 year in business, $100,000 or more in annual business revenue, and a business checking account. OnDeck does not lend to businesses in North Dakota. These are minimum thresholds — most borrowers receiving the most favorable rates have stronger credit and longer operating histories. Verify current requirements at ondeck.com before applying.
OnDeck offers same-day funding for applications submitted and approved before 10:30 a.m. ET on a business day, with funds typically deposited by 5 p.m. local time. After initial setup, the Instant Funding feature allows approved draws of $1,000–$10,000 to be available within approximately 30 minutes. Draws outside the Instant Funding range typically fund within 2–3 business days.
How we rate
Every pick gets a 1–5 ClearValue Rating computed from four weighted factors: Editorial confidence (30%), Cost (25%), Value (25%), and Accessibility (20%).
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