So far so good. Online application was quick and easy. Had a brief phone conversation with Jeremy that took less than 15 minutes. He explained the different funding options available to me, then walked me through how to request the funds online. Repayment options and interest/fees appear to be clearly presented before you formally request the transaction to proceed. I hope to update my review once I have accessed funds. read more

HORRIBLE EXPERIENCE. They reel you in at first and then screw you over, HARD. They knew Dec was the slowest/hardest month of the year for my business and they denied me since Oct/Sept. But they are fine with their decision even though we desperately needed a cash infusion. They are EXTREMELY predatory. read more

80% annual interest, really? These people are the bottom feeders of the lending world.

Ondeck approved our business quickly for a line of credit but with a horrible interest rate of 54.2% and then as past of the process, they asked to connect to our business checking account through Plaid. They then asked us to give Plaid the right to access our business checking account to view our daily spending as well as to be able to withdraw money from our account. I could not believe this! I stopped everything and searched Plaid online. I found that Plaid has been sued for58million dollars because of this very thing of getting access to way too much data in connection with Ondeck. please beware of this before doing any business with OndeCk. This is a Banking Violation. Plaid asked for my username and password and this is unbelievable but it's true. I did not move forward with this line of credit with Ondeck! read more

Misleading Terms and Unfair Loan Practices I strongly caution any small business owner considering OnDeck Capital. My experience has been frustrating, expensive, and misleading from the start. I was told I was getting a loan with 100% interest waived -- but after I made a large payment to settle, I discovered they still charged me thousands in interest. [[HIGHLIGHT]]When I asked for clarification, I was given inconsistent responses and no proper explanation of the math.[[ENDHIGHLIGHT]] [[HIGHLIGHT]]OnDeck's communication is confusing at best and deceptive at worst.[[ENDHIGHLIGHT]] Their system charges massive interest upfront, and even after early payoff attempts, they still try to collect more. [[HIGHLIGHT]]I've submitted formal complaints and have yet to receive a fair resolution.[[ENDHIGHLIGHT]] This is not how a reputable lender should operate. If you're a small business looking for funding, look elsewhere. Transparency, fairness, and integrity should be non-negotiable -- and sadly, OnDeck has failed on all three. read more

Business owners beware. I received a $32,000 business line of credit from OnDeck with a disclosed APR of 47.60% -- a rate that exceeds New York's criminal usury cap (25%). Despite living, operating, and using the funds in New York, OnDeck claims Utah law governs the loan to sidestep local protections. When I objected, they offered to cancel the loan only if I returned the entire $32K within 3 business days -- or they'd enforce the full terms, interest and all. The contract is loaded with predatory terms: daily compounding interest, unilateral rate changes, forced arbitration in Utah, and a personal guarantee. It's designed to trap small businesses in unfair debt. I've filed complaints with the NY Attorney General and BBB, and I strongly urge other New York business owners to read every line carefully and consult legal counsel before signing anything with this lender. This was marketed as a flexible business credit line -- but it felt more like legalized loan sharking. You've been warned. read more

Wish that I could give them no stars.. OnDeck is Very misleading. [[HIGHLIGHT]]My lending advisor Amanda Rodgers, she was very misleading... She made me believe that I was going to get the monthly repayment line of credit, then came back and mentioned her underwriters didn't approve me for the monthly repayment and stuck me with the weekly payment schedule.[[ENDHIGHLIGHT]] I'm sure it was all about benefiting her pockets, since she is a broker. She said that if I wanted to go with the monthly payment schedule, I would have to apply again. I want nothing to do with OnDeck ever again. I don't recommend OnDeck to anyone EVER. read more

[[HIGHLIGHT]]The absolute worst customer service.[[ENDHIGHLIGHT]] Do not use OnDeck, you will regret it. The interest rates are absurd and [[HIGHLIGHT]]they have no courtesy whatsoever.[[ENDHIGHLIGHT]] read more

The worst company to do business with ever!! This company is absolutely misleading and misrepresents the qualifications they based their decisions only and only on the personal credit. Even though I have very good credit and exceptional payment history some underwriter in a basement decided that is not good enough! I strongly believe that this company engages in fraudulent inducement practices, which are absolutely illega!!! DON'T WASTE YOUR TIME WITH THIS COMPANY. THERE'S PLENTY OF OTHER OPTIONS AND MUCH BETTER COMPANIES THAT ARE HONEST AND TRUSTWORTHY ON. DECK IS ABSOLUTELY NOT TRUSTWORTHY AND ABSOLUTELY TERRIBLE!! read more

After 7 years of using OnDeck, they do not care about loyalty and on time payments. [[HIGHLIGHT]]Don't expect any real customer care and support.[[ENDHIGHLIGHT]] At the end of the day the company only cares about the bottom line for their company. I do NOT recommend this company. read more

[[HIGHLIGHT]]This company keeps calling me multiple times a day to offer me their services, using a different agent each time, even though I have told them EVERY SINGLE TIME that I am not interested & do not want them calling me[[ENDHIGHLIGHT]], and that they are in engaged in the continuous & repetitive harassment of a disabled veteran by doing so. I am on the Do Not Call registry and have been since 2012. [[HIGHLIGHT]]It is absolutely disgusting & cringeworthy that they continue to allow their employees to do this.[[ENDHIGHLIGHT]] [[HIGHLIGHT]]IT IS BORDERING ON PREDATORY. I would stay as far away from this business as possible.[[ENDHIGHLIGHT]] read more

[[HIGHLIGHT]]Continúan enviando su basura de publicidad a pesar de que les confirmas que no te interesa.[[ENDHIGHLIGHT]]

OnDeck engages in deceptive business practices. For example, they extended an amortized term loan for 24 months. When looking at the payment schedule, I noticed that the interest portion of the monthly payment went up instead of down from month to month. The interest portion of an amortized loan is based on the principal. As the principal owed goes down each month, the interest should also go down. However it increased. [[HIGHLIGHT]]Their customer service team ran me in circles. At one point they said the loan isn't amortized (they provided an amortization schedule at the beginning). Then they said it's not a term loan, but the agreement says the term is 24 months. They have it scripted out to make you sound like the overcharge is all in your imagination.[[ENDHIGHLIGHT]] Going to the FTC and attorney general next. read more

[[HIGHLIGHT]]Dana is the absolute best, she answers all your questions she is quick to respond to my request[[ENDHIGHLIGHT]]. [[HIGHLIGHT]]We have used On Deck several times and she has always been respectful and helpful.[[ENDHIGHLIGHT]] read more

onDeck.com are a deceitful company. They tell you that their rate is 19%, but when calculating the weekly payments, their true annualized rate is 36%. I'm surprised they haven't been shut down by the FTC. What happened to the usury laws? read more

check your apr. it was not dislosed to me and turned out to be 75%. I know, how could I have been so stupid. they will not reduce the size of the weekly payment nor will they extend the installments. I have a 10 month business with no income for 2 months. i was told no pauses are allowed. i asked for more money so that i could cover the time with out income. i was told after one missed payment they send to collection. i said , well, it seems as though ever since your company tanked during covid youve been sticking it to any new customers, well thats rude, bad business practices and i will see you in court. [[HIGHLIGHT]]he just laughed.[[ENDHIGHLIGHT]] PLEASE PLEASE PLEASE stay away from ON DECK read more

No matter how bad you need money for business, getting a loan from OnDeck will NOT help you in the long run. You do not understand the stress and anxiety having a weekly draft from your account is especially if business slows down. Never take a hard money loan from a company like this! You will regret it. The cost of funds is astronomically high, just do your self a favor and DO NOT take a loan from these companies. It is easy money, but you will be stuck in a loop and never get out. DO NOT take a loan from them or any other "Hard Money" lenders. DO NOT! read more

So I got a loan from I'm guessing a broker of on Deck and yes, they funded very fast so much easier than dealing with the bank. The only major major problem that I have is that they either sold or give all of my information, including my bank statements to 83 known different lenders. I know this because I have had 83 calls and text messages and emails from different lenders within the past 24 hours. [[HIGHLIGHT]]I cannot get any work done because my phone is absolutely ringing off the hook when I don't need any additional funding.[[ENDHIGHLIGHT]] I feel like on Deck violated my privacy, even though somewhere in the fine print, I'm sure I signed something away but my bank statements in my financial information should've been private. The only reason why I give them two stars is because that they funded fast and it was somewhat easy. [[HIGHLIGHT]]The brokers were fast talkers and very pushy. I guess so that they could get their brokerage fees.[[ENDHIGHLIGHT]] So steer clear up on deck if you can it's really not worth the 83 calls that I have had and the phone and text messages are still going off as I type this read more

Amanda Rogers was my loan specialist and she was just absolutely amazing in every way! I have never inquired about business funding and I had many questions that I almost felt dumb asking yet she was thorough and patient. She helped me make sense of the funding requests and helped get it approved. I couldn't be more satisfied with how things went and her communication along the way. This is what makes doing business with another business enjoyable. read more

Terrible company. Made bank account errors in the loan documents which led to insufficient funds with our bank. Suspended our line of credit due to their errors. No customer service once they get your money. Worst experience with a lender in ten years read more

I was trying to get some quotes for a Business Line of Credit before I agreed to anything. I had a rep form Ondeck contact me immediately after I submitted my request. At least that part was fast, the sales rep wanted to pitch a loan of $5,000 to me, but I exampled that I was interested in a Business Line of Credit to help cover some expense, because I had moved business location and was closed for the last three months. The sales rep took my info then asked for the last three mouth of my Banks Statements, again I stated that the store had just moved and had not taken in any real income in the last three month. The rep then stated that with out statements there was nothing else she could do and advised to try again in three months. Now with that all being said, I understand all the application stuff and not being able to prove my business income statement. What I did find interesting was who quick the sales rep was to get me to look at a loan even thou when I filled out the request for a Business Line of Credit. She also stated that my repayments where to be made daily or weekly which I though was odd. And that if approved, I would only have access to my Business Line of Credit for a year. There was also never any discussion of what my interest rate would be. I really do think that company like this are just sharks, and I like sharks, the sea creatures not the shady business practices. I really think these Tech Online Company/Banks pray on those that are in a thigh spot or don't have a lot of financial knowledge. And there are so many of them out there, I just wanted to post my expense. Sorry this is so long but please don't agree to anything these people send to you until you had a second or third opinion. PS, this is for the OnDeck PR Department, don't bother and post a reply, "We so sorry, we where not able to met you needs," BS. You guys are Sharks and you know it. read more

Been with these guys for almost a decade, missed one payment I think 6 years ago. Paid back over a million. Now they suck, you get nothi g for bei g a loyal customer, a good customer. Each time is the same. They put forth thier package and ho I e you take it at the highest interest and shortest time. Sometime I think they just want the assets if you fail. Covid, they were horrible too. Looking for a new company, these guys are preditors, do not go here, once they have you you and your company will be stuck forever in an endless cycle of payments that renew at a worse rate and worse terns. Stay far far away or end up like me. read more

Felt totally misled by offers ending up with a 70% interest and felt lied to about no prepayment penalty when I tried to pay it off early. I feel they are the worst for predatory, fraudulent, and deceptive lending practices.​ read more

I placed this review on Trustpilot and they took it down stating promotional references or suspicious review patterns. Do not trust the reviews on Trustpilot they are all tailored for the client that pays them more to get good reviews. The review here are ture and to the point. This is my 3rd time appling with ondeck in 11 years. They have declined me all 3 times. I have gone off to other companies that did not have an issue. My credit score is in the 700's. I am not sure what they are basing it on, but they have you send lots of docus. I even got an email stating that they where about to fund and then a decline letter at the same time. I will no longer apply with them now that they went public. I have been in business for 11 years and they always have a reason not to fund. Not sure if all the reviews are real but that has not been my experience with them. I was informed that you were very close to approving your business. All we need is a copy of most recent paypal statement or a screenshot with the lender name, your business name, balance and today's date. Which was provided. This is the email that I got: Hello, We are very close to securing approvals for your business, but need to speak with you briefly regarding the application. Please give me a call at your earliest convenience - (***) ***-****. Or let me know what time works best for you today. Best regards, Executive Lending Advisor Nate's cell phone Repair To: AR Tue, Aug 8 at 5:00 PM I just tried to call and it says that there is a long wait time. Also that you are not available. Nates Cell Phone Repair ***-***-**** AR To: Tue, Aug 8 at 5:09 PM D, Please provide either the most recent paypal statement or a screenshot with the lender name, your business name, balance and today's date AR Executive Lending Advisor read more

Very easy process to qualify. However, I would not recommend the interest rate is criminal. You will pay almost twice as much as the line of credit (loan). Your payments are debited weekly. And it is an outrage that almost the entire weekly payments are deducted for interest only. The principal amount remains almost entirely the same. So unsatisfied. Would not recommend for small business loans. This is such an outrage. Ive made 13 payments equivalent to over 10K and less then 1/2 is being applied to the principal leaving the amount I owe exactly at the loan amount borrowed. So essentially I am paying almost double the amount borrowed. Run as fast as you can from borrowing from this company. read more

Right now, I am in the middle of a big problem with this company. They don't seem to care about a customer. Long story short right now I am in the middle of speaking with a lawyer because my business wasn't doing so great last year with this company and I was past due and we had been emailing back-and-forth until we finally came up with a payment arrangement and for some reason, I was also transferred to a senior negotiator which I did not understand and they said that my account was in the charge off status. So I then continued to Make payment arrangements with the senior negotiator, but then I come to find out that this company reported me as a charge off on my TransUnion. I declined to keep paying them until they remove that from my TransUnion. I sent them a letter to their corporate office and they never responded back to me and I stated in that letter if they could please remove the charge off so that I can continue making these payment arrangements because we were trying to avoid this going into the charge off status since the beginning. I was very compliant in everything they wanted me to do so that I wouldn't be reported negatively on my credit report. I don't think this is fair and there litigator Lawyer reached out to me mentioning all these questions to see if they can possibly qualify into getting me into a payment arrangement and that's not what is going on here. I was already in a payment arrangement and what I need Ondeck to do is remove that from my TransUnion so that I can continue making payments. So currently, I will be speaking to my lawyer because this is not fair and not a way to treat a customer that is willing to cooperate and has been cooperating and they're going to go and report me falsely when that was what we were trying to avoid in the first place. read more

Horrible company! Watch out! They are not looking out for your best Interest. They will suck you dry tell you have nothing left to give. Then sue you for the rest. read more

This process was soooo easy! Kristen Solis was the agent who helped me. She was amazing! My calls were returned promptly, she was professional, polite, and knowledgeable. I received my services within 48-72 hr of applying. I cannot recommend On Deck ( and Kristen!) more highly. read more

Excellent,service,quick turnaround. Robert B provided all the details quickly and efficiently Highly recommended! read more

OnDeck - Business Financing Near Me - New York, New York

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Strongly discourage accepting any loan offered from this company. Fees and rates are as high as possibly allowed. You may never survive it. During Covid-19 quarantine they have not accepted our government's recommendations to defer payments or provide assistance to their borrowers. Unlike Wells Fargo (3 months deferment,) Elastic (2 months deferment,) Prosper (2 months deferment,) or credit card companies (30-60 day deferment.) Instead of having customer service agents answering calls, they have commissioned sales retention agents whose only response has been, "how much can you pay weekly?" Check their stock report, don't accept loans from this company. It will be your biggest regret. read more

You want to RUN FROM THESE PEOPLE. During the COVID-19 pandemic, these people are the ONLY LENDER that will not work with you. They put me in collections after I told them I could not make my payment. Total internet mafia tactics. Find your money anywhere else than here. read more

Anastasia is so great to work with, We called her on Monday and had our loan funded by Wednesday morning. We probably could have had it funded Tuesday but she had to wait on me for a few items. She was prompt and personable and total on top of it. We live in Hawaii which presents challenges in timing and communications but Ana took care of us on our schedule which DEFINITELY fell out side her working hours. This will be our 4th loan with On Deck. We absolutely love working with the company, especially Anastasia. She is like our very own personal piggy bank. Which if your a small business you definitely need from time to time. I highly recommended calling Ana with On Deck if you need business funds. read more

Always a seamless process and reliable quick funding. Thank you Anastasia! read more

Prove to them you don't need the funding and they will give you all the funds you need, however if you show any sign of needing the cash. Forget it! They put on a great marketing and advertising program that makes you think they are truly interested in loaning you money and helping your business. We are a 2nd generation minority owned shoe store in a major city that has been in business successfully over 46 years. We needed capital for inventory because we had Federal Tax Liens we were paying on and traditional banks would not fund . On Deck declined us due to the liens over a year ago the first time we applied. We came back just recently and cleaned up all the Federal Tax liens and were still declined. This time because of having history of derogatory remarks with some suppliers. Anyone knows if you've been in business close to 50 years and have had over 500+ suppliers there will be some derogatory remarks. Truth is you need to have a letter from the Pope in order to get funding here. read more

If you absolutely have to have cash quick there are a LOT of options for unsecured "cash advance" type of loans that are a LOT cheaper than these crooks. They say no fees, then charge a $5000 "origination fee". The fees they charge are astronomical and I've found deals for 1/2 the cost of these clowns. Shop around. You can get this kind of money from a lot of "cash advance" outfits for half the cost of these bozo's. read more

put my line of credit on hold for no reason! claimed it was because i had another loan. i am a small business???? we need capital to run! all payments were made ontime! never late or missed on both line of credit and loan from crestmont which i found out owned part of ondeck??? hmmm. received a line of credit from ondeck and it really helped us as a small business. this set us into a financial hardship as we were trying to get through slow season. hoping i don't need their money in april when they will supposedly reactivate the loan. i would rather have been declined than to have them give me a line of credit then take it away for no reason!!! very disappointed read more

Trying to make a settlement with a legal firm that Ondeck appointed, but it is impossible to communicate with them. They responds emails after two weeks without any useful information every time. Seems like they don't want any settlement, but keep the judgment for us to close the business. I have been trying to ask for help including customerservice@ondeck.com, status@gurstel.com but no one is able to help with this. Christina from gurstel law firm is handling my case, but she never picks up any phone calls either. I have tried at least 100 calls. I am willing to settle, but no one wants to guide me through. read more

. I fell on hard times called them to let them know and to ask for a little more time. Told them I don't have the money now but will pay it all back. Please help me out here, then he goes to say I squandered the money or didn't use it for the business. What's sad is he first asked what I spent the money on and I said, bought a new truck, a trailer, paid off a business card thar had almost $70,000 on it. I used it wrong but when I applied I said those exact things and I got the loan. Good luck brother you won't get nothing this way because I have nothing. I called before I defaulted to be truthful and honest when most would wait until all the letters of threats came. However I was humble and owned it as soon as I knew. Without hesitation they decided to kick me while I'm down. In his eyes I was trash and threatened me with litigation and to cause damage and harm simply because business slowed down to the point I had to default on car loans in my personal life. If they worked it out a little bit they would be getting it all back eventually. If they go legally they wont get any of it. They must think I own things of value that they could sell. Everything in my business is a loan, take my work trucks as I owe more than they are worth. I don't own a home, in fact I don't own a Damn thing you can sell for a profit. Your threats are laughable, it's like a blind man your gonna make him wear a blindfold. The loan yes is structured monthly payments, however it is a 1 year payoff at the end. At the end of the day I did reach out to you first to try and work it out somehow. Also there was still available funding left on both loans. If I was in some way stealing as you say, then why would I leave money behind. That makes no sense at all. Also you only put the hold on my account because I told you, so remember without me you would be clueless for some time. You sound irrational even making those comments, you feel threatening me and bullying me into somehow giving you money I don't physically have. I hired a lawyer you can talk to him moving forward. read more

OnDeck - Lighten the mood - Business Financing Near Me - New York, New York

A complete scam. I am certain that only people with math deficiencies agree to their terms. After buttering me up for a day and getting more information about me than my wife has, they gave me the great news of approval. One caveat, my effective interest rate was over 30%. I mean, they must think that people are idiots and obviously some are. Do not, under any circumstance, fall for their tricks. They want daily loan repayments, which in itself, is not a huge deal, as long as you understand how much it adds to your interest rate. They usually want 6-9 month repayment terms, which normally makes it harder for people to calculate the effective rate. I almost forgot, 2.5% of your loan amount is taken off the top, you do not even see it, origination fee of course. I am now going to be filing complaints with CFPB. I hope somebody will stop this dishonesty. ------------------- UPDATE on 3/28/2015 - For honest and realistic interest rates, visit PayPal's Capital Loan program. Their interest rates are more reasonable, around 12%. The application process is substantially easier than these scammers. If you already have a business account with them, the whole process in under 5 minutes and the money is in your account the next day. read more

I have been doing business with On Deck for years now. I've always been able to get the funding I need to grow my business with little or no hassle. My loan officer Rachel McDowel has always assisted me, with the upmost respect and professionalism towards me and my needs she is by far the greatest asset to her employer. I highly recommend anyone to check with On Deck first before ever considering a merchant cash advance from those so called "here to help you" companies. Don't let them sucker you into their high interest 20% of your daily credit card transactions phones loans. On a Deck is the real deal, it is a real loan and they really help you when you need it. read more