OnDeck
OnDeck is a digital small business lender offering term loans of $5K-$400K and revolving lines of credit of $6K-$200K to SMBs across the U.S. and Canada, operating as a wholly-owned subsidiary of Enova International and having funded 185,000+ businesses since 2006.
- Company typePublic
- Founded2006
- HeadquartersNew York, United States
- Headcount251–500
- GTM typeB2B
- OfferingServices
What OnDeck does
OnDeck is a technology-enabled small business lending platform that originated in 2006 and has since funded more than 185,000 businesses with over $25 billion delivered across the United States. The company offers two core credit products: term loans of $5,000 to $400,000 with repayment terms up to 24 months, and revolving business lines of credit of $6,000 to $200,000 with 12-, 18-, or 24-month draw terms. Average APRs on originations in the first half of 2025 were 56.4% for term loans and 56.6% for lines of credit, with origination fees waived for returning renewed customers. Revenue is generated primarily through interest charges, origination fees, and origination-based transaction fees on partner-originated loans that can extend to $1 million.
The platform is built around a digital application workflow with no hard credit pull for eligibility checks, automated underwriting based on business financial data analysis, and same-day funding for qualified applicants, plus instant funding for line-of-credit draws of $1,000-$10,000. U.S.-based loan advisors augment the self-serve experience. Distribution is direct-to-consumer via ondeck.com and phone, without third-party intermediaries, and the company operates across the U.S. (excluding North Dakota) and in Canada, where it launched in 2014 and expanded its product suite in March 2025. AI-driven credit scoring is referenced as a market-level technology driver but specific proprietary implementations are not disclosed; OnDeck also partners with Ocrolus for document automation and analytics.
OnDeck is a wholly-owned subsidiary of Enova International (NYSE:ENVA), which provides capital, technology infrastructure, and operational scale, including a $300 million Class A revolving credit facility with Truist Bank. In 2025 the company launched ODX, a Platform-as-a-Service subsidiary that offers white-label lending technology to external lenders, and the company has built recognition through BBB A+ accreditation, 4.6 Trustpilot rating, and repeated awards from Forbes Advisor, NerdWallet, LendingTree, and Buy Side (WSJ).
OnDeck firmographics
Firmographics- Name
- OnDeck
- Legal name
- On Deck Capital, Inc.
- Website
- https://ondeck.com
- Company type
- Public
- Founded year
- 2006
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- OnDeck is a digital small business lender offering term loans of $5K-$400K and revolving lines of credit of $6K-$200K to SMBs across the U.S. and Canada, operating as a wholly-owned subsidiary of Enova International and having funded 185,000+ businesses since 2006.
- Ownership category
- akta.pro rank
OnDeck industry classification
Industry- Product category
- Small Business Lending
- NAICS
- Sales Financing (52222)
- SIC
- Miscellaneous Business Credit Institution (6159)
- akta.pro primary industry
- Embedded Lending & Credit (POS, Working Capital, Credit Lines) (FSAGALAD)
- akta.pro secondary industry
- Loan Servicing Platforms (Billing, Statements, Customer Self-Service) (FSAGAHAH)
Keywords
Where OnDeck is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
OnDeck business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Marketing or Sales
Revenue model
- Term Loans: One-time lump sum loans ranging from $5,000 to $400,000 with repayment terms up to 24 months. Revenue generated through interest charges and origination fees. Average APR is 56.4% based on loans originated in H1 2025.
- Business Lines of Credit: Revolving credit lines from $6,000 to $200,000 with flexible repayment terms of 12, 18, or 24 months per draw. Revenue generated through interest on drawn amounts. Average APR is 56.6% based on loans originated in H1 2025.
- Partner-originated Loans: OnDeck works with partners to provide larger loan amounts up to $1 million for qualified borrowers who need capital beyond standard product limits.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Pay-as-you-go | Term Loan: $5K-$400K, up to 24 months, daily or weekly payments |
| Subscription | Monthly | Line of Credit: $6K-$200K, 12-24 month terms, weekly or monthly payments |
| Other | Pay-as-you-go | Partner Loans: Up to $1 million for larger capital needs |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels8 records
OnDeck product offering
Product offeringCore offering
OnDeck is a technology-enabled digital lending platform that provides financing to small and medium-sized businesses in the United States and Canada. Its core products are term loans ($5,000–$400,000, up to 24-month repayment) and revolving business lines of credit ($6,000–$200,000), distributed through an online application with same-day funding capabilities and supported by U.S.-based loan advisors.
Product overview
OnDeck is a digital small business lending platform offering two core products: term loans and lines of credit. The Term Loan provides $5,000–$400,000 for one-time business investments with repayment terms up to 24 months. The Line of Credit offers $6,000–$200,000 in revolving credit for ongoing expenses with flexible 12/18/24-month repayment terms. Both products feature same-day funding options and are designed for speed and accessibility. OnDeck also offers a free Business Credit Score tool. The platform operates primarily in the U.S. with recent expansion into Canada, and leverages AI-driven credit scoring and digital lending technology. The company is a subsidiary of Enova International (NYSE:ONDK) and has funded over 185,000 businesses since 2006.
Differentiator
Problem solved
Functional benefit
Brands
- ODX: Platform-as-a-Service subsidiary providing lending technology infrastructure to other lenders
- OnDeck Card
Products and services
- OnDeck Term Loan A one-time lump-sum financing product offering $5,000 to $400,000 with repayment terms up to 24 months and daily or weekly payment cadence, designed for larger one-time business investments such as equipment, expansion, or debt consolidation.
- OnDeck Line of Credit A revolving credit facility with limits from $6,000 to $200,000 that businesses can draw from 24/7, with flexible repayment terms of 12, 18, or 24 months per draw, suited for ongoing expenses, cash flow management, and readily available working capital.
- Canada Line of Credit A regional line of credit product offered to Canadian small businesses with at least $100,000 in annual revenue, providing revolving credit limits from $10,000 to $50,000.
- Canada Term Loan A regional term loan product for Canadian small businesses with at least $100,000 in annual revenue, providing loan amounts up to $250,000.
Quantifiable outcome
- 93% of surveyed small businesses expect growth in 2026
- +3 more outcomes
Companies that use OnDeck
Customer profileNamed customers1 record
Segments4 records
Ideal customer profiles2 records
OnDeck technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
OnDeck partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and minor.
- OcroluscoreOnDeck partners with Ocrolus to produce the Small Business Cash Flow Trend Report, which analyzes data from over 3 million loan applications and surveys of hundreds of small businesses. Ocrolus provides document automation and data analysis capabilities for the research.
- ODX (OnDeck Express)minorOnDeck launched ODX as a Platform-as-a-Service subsidiary, offering white-label lending technology and infrastructure to other businesses. ODX extends OnDeck's proprietary lending technology to external partners seeking to offer lending products.
Scale indicators9 records
Recent moves6 records
Expansion highlights6 records
OnDeck competitors and assessment
Company assessmentDirect peers
- Bluevine: Bluevine is a leading digital SMB lender offering lines of credit up to $250K and term loans, with similar target customers (small businesses needing fast capital). It is the closest direct competitor to OnDeck in the U.S. online SMB lending space.
- Funding Circle: Funding Circle is a publicly traded online SMB lending platform offering term loans and lines of credit to small businesses. Comparable in target market (SMBs seeking fast financing) and product structure (term loans, credit lines), with operations in the U.S. and U.K.
- Lendio: Lendio operates a SMB lending marketplace connecting borrowers to multiple lenders. While broker-based rather than direct lender, it competes for the same small business customers seeking online financing alternatives.
- Fundbox: Fundbox provides SMBs with lines of credit and invoice-based financing through a digital platform. Targets the same small business customer base with similar product mechanics (credit lines, fast funding), making it a direct competitor to OnDeck's line of credit.
- National Funding: National Funding is an alternative SMB lender offering working capital, term loans, and equipment financing. Comparable in product mix, target customer (small/medium businesses), and speed-of-funding positioning.
- Credibly: Credibly provides working capital loans and lines of credit to SMBs, with similar merchant cash advance and term loan products. Targets the same underserved SMB segment that OnDeck serves.
- Kabbage (American Express): Originally an independent SMB lender, Kabbage was acquired by American Express and now offers working capital lines and business credit. Direct competitor in SMB online lending with similar speed-to-fund positioning.
Emerging players
- Behalf: Behalf offers SMB financing through a digital platform with merchant partnerships, providing working capital and term loans. Comparable in digital-first SMB lending approach, though differentiated by partner-distributed model.
- Headway Capital: Headway Capital is a sibling SMB lending brand under Enova International (OnDeck's parent). It offers lines of credit to small businesses with overlapping customer base and underwriting infrastructure, making it an internal peer within the same corporate family.
- Fora Financial: Fora Financial provides working capital advances and term loans to SMBs. Operates in similar SMB financing space with comparable product structure, though with different funding sources and risk profile.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
OnDeck social profiles
Digital presenceOnDeck financial estimates
Financial estimateRevenue estimate
Valuation estimate
OnDeck leadership team
Management profileNumber of profiles
Profiles2 records
OnDeck subsidiaries and ownership
Company hierarchySubsidiaries1 record
OnDeck funding detail
Funding detailFunding overview
Funding rounds16 records
Investors24 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
OnDeck M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about OnDeck
What does OnDeck do?
OnDeck is a technology-enabled digital lending platform that provides financing to small and medium-sized businesses in the United States and Canada. Its core products are term loans ($5,000–$400,000, up to 24-month repayment) and revolving business lines of credit ($6,000–$200,000), distributed through an online application with same-day funding capabilities and supported by U.S.-based loan advisors.
Is OnDeck a public or private company?
OnDeck is a public company. It is classified as corporate owned and is currently operating.
When was OnDeck founded?
OnDeck was founded in 2006. It employs 251 to 500 people.
Where is OnDeck based?
OnDeck is headquartered in New York, United States, in the North America region.
How does OnDeck make money?
Three revenue lines are on record. Term Loans are the primary driver. The others are business Lines of Credit and partner-originated Loans.
Who are OnDeck's main competitors?
Direct peers on record are Bluevine, Funding Circle, Lendio, Fundbox, National Funding, Credibly and Kabbage (American Express). Emerging players are Behalf, Headway Capital and Fora Financial.
Does OnDeck have an API?
No public API is recorded for OnDeck.
What industry is OnDeck in?
OnDeck's product category is Small Business Lending. Its primary akta.pro industry code is FSAGALAD, Embedded Lending & Credit (POS, Working Capital, Credit Lines), with a secondary code of FSAGAHAH, Loan Servicing Platforms (Billing, Statements, Customer Self-Service). Its NAICS code is 52222 and its SIC code is 6159.