The specs
OnDeckBluevine
Product typeMulti-productLOC
Amount range$5K – $400K (term); $6K – $200K (LOC)$10K – $250K
Cost (factor / APR)Term APR 27%+; LOC APR 30%+APR 6.2% – 27% (LOC)
Speed to fundSame-day for approved files1 – 3 business days
Min time in business12 months12 months
Min monthly revenue$8,000$10,000
Min credit score600+625+
Products
- Term loan
- LOC
- Line of credit
- Invoice factoring
Verdicts by use case
- Cheapest revolving capital if you qualify — Winner: Bluevine. Bluevine LOC APR can start at 6.2% — far below OnDeck's LOC APR of 30%+.
- Larger one-time capital need — Winner: OnDeck. OnDeck term loan goes to $400K. Bluevine LOC caps at $250K.
- Newer business or lower revenue — Winner: OnDeck. OnDeck's $8K/mo minimum is workable for smaller operators. Bluevine wants $10K+.
- Building business credit — Winner: Tie. Both report to commercial bureaus when paid on time.
- Industry-restricted or specialty business — Winner: OnDeck. OnDeck's underwriting box is broader by industry than Bluevine's.
The honest takeaway
OnDeck and Bluevine solve overlapping but distinct problems. The right choice depends on three things you already know about your business: how fast you need the money, how long you've been operating, and whether the capital need is one-time or recurring.
Frequently asked questions
- Why is OnDeck so much more expensive than Bluevine?
- Different products with different risk profiles. Bluevine's LOC is structured more like a bank product (lower risk, lower rate, higher qualification bar). OnDeck offers both term and LOC and serves a broader credit spectrum at higher rates.
- Should I get both?
- Possible, but consider whether you actually need two products. A Bluevine LOC plus an OnDeck term loan signals heavier leverage to underwriters of future products. If you can get the cheaper one and use it well, that's usually the smarter move.
- How fast can each fund?
- OnDeck: same-day for approved files. Bluevine: 1–3 business days. If you need money this week, OnDeck has a speed edge.