Term Loans

Term Loans

Up to $500,000 and annual interest rates as low as 9.99%

Short Term Loans

3-12 month terms

Finance Projects That Have an

Immediate Return on Investment​

  • Updating or refreshing locations

  • Inventory deals with a quick turnaround

  • Marketing campaigns

  • Seasonal hiring or inventory

Long Term Loans

15-36 month terms

Fund Larger Projects That Pay Back Longer Term

  • Expansion or new locations

  • Large-scale inventory purchases

  • Equipment purchases

  • New product development


  • As low as 9% Simple Interest¹

What is Simple Interest?
Simple Interest calculates the total amount of interest you pay as a percentage of your loan amount. This rate excludes any fees.

For shorter terms (12 months or less), Simple Interest lets you easily see the total payback amount of your loan.

Total Interest Percentage is also referred to as Fixed Simple Interest, and is not an annualized rate.

On a 6 month, $10,000 loan with 9% Simple Interest and weekly payments, your interest cost is $900, for a total payback amount of $10,900.


  • As low as 9.99% Annual Interest Rate¹

What is Annual Interest Rate?

Annual Interest Rate calculates the yearly interest percentage you pay based on your average loan balance. This rate excludes any fees.

While you should always consider the total cost of a loan, for longer terms (more than 12 months) you can use the Annual Interest Rate to compare loans of similar duration.

On a 24 month, $100,000 loan with 9.99% Annual

Interest Rate and weekly payments, your interest cost is $10,418.15, for a total loan payback amount of $110,418.15.

¹Eligibility for the lowest rates is very limited, available only to businesses with the strongest creditworthiness and cash flows, and typically businesses that have shown an excellent payment history on prior loan products with OnDeck. The weighted average rate for term loans is 24.6% simple interest and 42.5% AIR. Weighted averages are based on loans originated in quarter ending June 30, 2017.

Rate Definitions
Simple Interest: Total interest you will pay, and given as a percentage of the amount borrowed, excluding fee
Annual Interest Rate: The interest rate in annualized terms, excluding fees
Annual Percentage Rate: The interest rate in annualized terms, including fees

Origination Fee

One-Time Fee to Cover the Cost of Servicing and Processing the Loan

1st loan: 2.5-4% of loan amount
2nd loan: 1.25-3% of loan amount
3rd+ loan: 0-3% of loan amount

Term Loan FAQs

Do I qualify?

  • Companies in business at least one year

  • $100,000+ in gross annual revenue

  • At least one owner with a 500+ personal credit score

How do I pay back?

  • Fixed daily or weekly payments

  • Automatically deducted from your business bank account

  • We offer prepayment options, including potential interest reductions. They vary based on our assessment of your business and your credit

How is my rate determined?

  • Your loan amount and rate will be based on our assessment of your business along with your business and personal credit profiles

Interest rates, terms and amounts vary based on risk assessment and creditworthiness at the time of application. Your loan size, term and rate will be based on our analysis of your business as well as your history with LRM, if applicable.