Short Term Business Loans

Decidedly Different — And Tailored For Small Businesses
While traditional lenders may decline businesses for a less-than-perfect credit score, We believe that a
small business with a healthy cash flow should be supported.

A strong cash flow and good payment behavior demonstrate the performance of your business and can help
you to qualify for loans from $5,000 up to $100,000. By reviewing business performance in addition to credit
history, we extend loans to companies that we believe in, but may have been considered too risky by
traditional lenders.

FREQUENTLY ASKED QUESTIONS ABOUT THIS BUSINESS LOAN PRODUCT

Is this loan a merchant cash advance?
No,  We offer true business loans with fixed terms and payments.

How much capital can you lend me?
We offer loans from $5,000 up to $100,000 based on the monthly cash flow of the business.

What makes a company eligible?
A Main Street business is a good candidate if it has a separate business bank account, has been open for
business for over one year, and processes at least $3,000 in credit card transactions per month. If a
company does not accept credit cards, it can be eligible for an Our loan if it has been open for business for
at least 2 years and has an average business bank account balance of at least $3,000 per month.

What information do you need from me to apply?
Depending on how you receive payments from your customers, you may need some or all of the following:

Tax ID number
Credit card statements for the previous 3 months
Merchant processor name, ID, and phone number
Bank statements for the previous 3 to 6 months
Social Security number of business owner(s)
Drivers license number and state of issue
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How soon will I know if I'm approved?
Within 2 business days of receiving your completed application, we will let you know if you've been approved.

When will I receive the funds?
Loans are funded within 5 business days of receiving all completed loan documents.

How do I repay the loan?
Daily Direct DebitSM payments are made from your business bank account to On Deck. These small regular
payments are proven to prevent the snowball effect often caused by missing larger monthly payments. We
will inform you of your exact payment amount, and our online loan management portal allows you to monitor
the activity.

What is the typical term of your loans?
6 or 12 months.

Do I have to switch my credit card processor?
No. We simply review your credit card information to determine the performance of your business.

What if I need additional money - Can I apply for a second loan?
Yes. Once you have successfully repaid 75% of your loan, you are eligible to apply for additional capital to
continue building your business.

Can I prepay my loan early?
Yes, you can prepay your loan at any time. However, given the short term of our loans, if you choose to
prepay, you will still be required to pay all principal and all interest as if you kept the loan until maturity. If you
choose to prepay a portion of your loan, the prepayment will be applied to principal and interest just as your
daily payment is applied.

Why is this loan more expensive than bank loans?
There is a reason traditional banks will only lend to small businesses with high credit scores – small
businesses can be pretty risky. We know that every small business owner works hard to protect and grow
their business, but many close their doors each year. We want  to give small businesses a chance –
because sometimes all they need is a bit of working capital to occasionally boost their cash flow and
succeed. With this mission to help small businesses comes risk, and we price accordingly. Our loans are still
typically up to 50% less than cash advances and the next best alternative to a traditional bank loan.

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