# OnDeck

> OnDeck is an Enova-owned online lender serving established U.S. small businesses with term loans and revolving lines of credit. Its underwriting draws on business performance and credit information to offer fast access to capital, with borrowing costs that can be substantially higher than bank financing.

- **Founded:** 2006
- **Headquarters:** Chicago, United States
- **Founders:** Mitch Jacobs (Founder and original CEO)
- **Products:** Business Term Loan, Business Line of Credit, Instant Funding
- **Notable:** Reports over $25 billion delivered across the United States., Reports more than 185,000 businesses funded since 2006., Completed a public offering in December 2014.

## Products & services

- **Business Term Loan** — Lump-sum financing of $5,000-$400,000, up to 24 months, with fixed daily or weekly payments. The maximum is limited to select qualified businesses. Product first offered in 2007; amounts reflect the website checked in October 2026.
- **Business Line of Credit** — Revolving limits of $6,000-$200,000; published repayment choices of 12, 18 or 24 months and weekly or monthly payments. Current product launch year not independently established.
- **Instant Funding** — Eligible existing credit-line customers can request one $1,000-$10,000 draw per day through participating business debit cards after registration. Not available on the agreement signing day; transfers may take up to 30 minutes or longer.

## Achievements

- Reports over $25 billion delivered across the United States.
- Reports more than 185,000 businesses funded since 2006.
- Completed a public offering in December 2014.
- Built proprietary business-performance underwriting, including the historical OnDeck Score.

## Latest updates

- **2026-10** — Website reviewed: term loans advertised up to $400,000 and credit lines up to $200,000; maximum term-loan availability is restricted to select qualified businesses.
- **2026-06** — Published average APR disclosure covers originations in the half-year ending June 30, 2026: 53.2% for term loans and 59.8% for lines of credit.
- **2026-06** — Terms of Use effective June 3 identify On Deck Capital, Inc., ODK Capital, LLC and related entities as OnDeck service operators.
- **2024-04** — Former OnDeck Canada rebranded as Journey Capital following its 2022 management buyout; it should not be treated as a current OnDeck subsidiary.

## Links

- Website: https://www.ondeck.com/
- LinkedIn: https://www.linkedin.com/company/ondeck/
- Twitter/X: https://twitter.com/OnDeckCapital/
- YouTube: https://www.youtube.com/@OnDeckCapital
- Instagram: https://www.instagram.com/ondeckcapital/
- Facebook: https://www.facebook.com/OnDeckCapital/

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Profile page: https://yespress.io/ondeck
Published by YesPress — https://yespress.io
Last updated: 2026-10-25