Line of Credit
by On DeckOnDeck's offers revolving lines of credit for small businesses seeking working capital to handle business expenses and require instant funding. OnDeck doesn't require specific types of collateral, loans are secured by a general lien on business assets. This is beneficial for businesses that are unsure about the value of their collateral and are seeking an alternative to traditional bank loans and financing.
Minimum Credit Score
600
Minimum Loan Term Months
3
Minimum Months In Business
12
Maximum Loan Term Months
12
Closing Fee
No
Notes
Doesn’t require specific assets for collateral but a general lien on business assets + a personal guarantee. Weighted average for lines of credit is 35.2% APR
Personal Guarantee
Yes
Maximum Loan Amount
100,000 USD
Interest Accrual Periods
annual percentage rate
Maximum Origination Fee
0%
Unavailable In States
Nevada, North Dakota, and South Dakota
Minimum Annual Revenue
100,000 USD
Minimum Loan Amount
6,000 USD
Minimum Interest Rate
10.99%
Payment Frequency
weekly and daily
Minimum Origination Fee
0%
Underwriting Fee Minimum
20 USD
Maximum Underwriting Fee
20 USD
Vendor Airtable Api Key
appqSJ8LJq96g8KF4
