OnDeck won’t publish a forward-looking rate range — the only pricing figure it discloses is a trailing average: 56.4% APR on term loans and 56.6% APR on lines of credit for H1 2025 originations, with its own caveat that “eligibility for the lowest rates is very limited.” That’s a real, sourced number worth knowing before you apply. Here’s what OnDeck actually discloses, and how REIL Capital’s options compare.
What OnDeck Offers
OnDeck’s term loans run $5,000–$400,000 with a maximum 24-month repayment period. Its business line of credit runs $6,000–$200,000 over 12/18/24-month terms with weekly or monthly payments, a $1,000 minimum draw, and no annual, monthly, or draw fees — though an origination fee applies (amount undisclosed).
Published qualification minimums are 625+ FICO, 1+ year in business, $100,000+ annual revenue, and a business checking account. OnDeck’s own site notes stronger applications tend to run 2+ years in business, 675+ FICO, $250,000+ revenue, and $3,000+ average monthly balance — those aren’t hard requirements, just benchmarks for a stronger offer. OnDeck isn’t available in North Dakota, and a restricted-industry list applies.
On rates: OnDeck doesn’t publish a forward rate range at all — only a trailing average of actual H1 2025 originations, 56.4% APR for term loans and 56.6% APR for lines of credit, with an explicit caveat that few borrowers qualify for the low end of that range. Funding is same-day if you’re approved and apply Monday–Friday before 10:30am ET; otherwise it takes 2–3 business days. OnDeck is a subsidiary of publicly traded Enova International (NYSE: ENVA).
OnDeck vs. REIL Capital, Side by Side
| Factor | OnDeck | REIL Capital |
|---|---|---|
| Disclosed pricing | Trailing average only: 56.4% APR (term loans) / 56.6% APR (LOC), H1 2025 — “few borrowers get the lowest rates” | Not a fixed published rate — priced per applicant |
| Qualification (published minimums) | 625+ FICO, 1+ year in business, $100,000+ revenue | Multiple products span different credit and revenue profiles |
| Product range | Term loans and lines of credit only | Lines of credit, invoice financing, SBA loans, revenue-based financing, and more |
| Funding speed | Same-day if approved and applied before 10:30am ET Mon-Fri; otherwise 2-3 business days | Varies by product — ask about timelines for your specific financing type |
| Availability | Not available in North Dakota; restricted-industry list applies | Works with businesses across a broad range of industries |
OnDeck’s real advantage over less-transparent competitors is that it discloses an actual average APR — but that average is high, and OnDeck says so itself. Whether that’s competitive for your business depends entirely on where you land relative to its “stronger application” benchmarks.
When OnDeck Might Be the Right Fit
If you meet OnDeck’s stronger-application benchmarks (2+ years in business, 675+ FICO, $250,000+ revenue), and you need fast funding for a specific term loan or line of credit need, OnDeck’s same-day-to-next-day funding speed is genuinely fast — and unlike some competitors, it tells you honestly what its average borrower actually pays.
When REIL Capital Makes More Sense
If you’re newer than a year in business, want financing types beyond a term loan or line of credit, or want to see if your business qualifies for pricing closer to the lower end of the market than OnDeck’s disclosed average, REIL Capital offers a broader product range built around your specific application.
Frequently Asked Questions
What’s OnDeck’s average interest rate?
OnDeck discloses a trailing average of 56.4% APR for term loans and 56.6% APR for lines of credit, based on H1 2025 originations — with its own caveat that eligibility for the lowest rates is very limited.
What credit score does OnDeck require?
625+ FICO is the published minimum, though OnDeck notes stronger applications typically run 675+ along with 2+ years in business and $250,000+ in revenue.
How fast does OnDeck fund a loan?
Same-day if you’re approved and your application is completed Monday-Friday before 10:30am ET. Otherwise, funding typically takes 2-3 business days.
Does REIL Capital have lower rates than OnDeck?
Neither company publishes a fixed rate for direct comparison. OnDeck’s disclosed average (56.4-56.6% APR) is a useful benchmark, but REIL Capital’s actual pricing depends on your specific application — get a quote to compare.
Compare Your Options With REIL Capital
Explore REIL Capital’s business line of credit, learn about invoice financing, or call our team at 646-440-4100 to talk through your options.
