The 411 for business loan products is: The type of loan you need depends on the purpose you want. On Deck is one of the few online lenders that offer multiple types of products to meet the short-term financing needs of business owners. Business loans
Whether you are looking to borrow money for a specific investment, starting a new project, or making a big purchase, an OnDeck Term Loan is the right type of loan. A term loan means that you borrow a lump sum of money and pay it back over a certain period of time, or “term.” Our short-term loans have different terms, so you have flexibility when it comes to repayments.
If you need continuous and rapid access to working capital. For example, OnDeck’s Line of Credit (LOC) is a good choice to manage cash flow. Our flexible business credit line is Revolving. This means you can withdraw from your line of credit (up to $100,000) and replenish your funds as you pay off your line. That means you can use it on a daily basis. In addition, LOC pays interest only on funds spent.
SBA Paycheck Protection Program (PPP) loans are available for businesses affected by the coronavirus. Please note that OnDeck is not accepting new applications for SBA PPP loans. For more information on PPPs, including PPP loan forgiveness and repayment terms, please visit the SBA PPP Loans page.
Still not sure which type of financing is right for your company? We can help you find the right option without the delays that typically occur with brick-and-mortar banks.
One of the biggest challenges facing entrepreneurs today is not asking too much from banks, but asking too much. OnDeck offers term loans ranging from $5,000 to $250,000 to help you seize opportunities to grow your business with loan terms. Interest rates that fit your business needs.
Business loans are similar to home equity loans because business needs range from short-term needs. Such as purchasing inventory that can be moved quickly to long-term needs such as opening a new business location in the city. point. What is the difference between auto loans and home loans?
Comparing APRs is just one way to assess the affordability of so many different terms and types of business loans on the market. In addition to the APR, understanding the total capital cost of a short-term loan to buy inventory, for example. Will help him decide if the loan will help him improve his ROI or will be too financially taxing for his business. increase.
You don’t have to be a business finance expert. But these five questions will help you compare loan offers and find the best business loan for your needs.