OnDeck

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).

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

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

• Small business lending
• Term loans
• Business lines of credit
• Online lending platform
• SMB financing

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. 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.
2. 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.
3. 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

Go-to-market motion2 records

Distribution channels3 records

Marketing channels8 records

Core 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

Named customers1 record

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Two partnerships are on record, tiered core and minor.

• OcroluscoreTechnology or Integration · 1 January 2026OnDeck 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)minorStrategic or Co-development PartnerOnDeck 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

Direct 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

• Xx.com/OnDeckCapital
• Facebookfacebook.com/OnDeckCapital
• LinkedInlinkedin.com/company/ondeck
• Instagraminstagram.com/ondeckcapital

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds16 records

Investors24 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about OnDeck