Stripe offered me $80K at 1.09 factor; OnDeck pre-approved me for $100K term loan at 29% APR — which?

Stripe is cheaper on absolute fees (9% vs 29% APR over comparable horizons) but OnDeck is funding $20K more and reporting to bureaus. If you only need $80K, take Stripe — saves ~$15K in fees. If you need the full $100K or care about building business credit for a future SBA application, OnDeck's premium may be worth it.

I process $60K/mo through Stripe but Stripe hasn't offered me capital — what now?

OnDeck if you have 12+ mo TIB and 600+ FICO. Stripe's algorithm weighs account tenure, dispute rate, fraud signals, and growth trajectory — sudden revenue spikes or high churn routinely get skipped. OnDeck accepts most established Stripe users who clear its credit and TIB floors; don't wait indefinitely for a Stripe invitation.

Can I carry both at the same time?

Yes, but OnDeck's covenants require disclosure of outside debt during underwriting — disclose Stripe Capital. Some OnDeck files accept the stack; some decline. Carrying both means OnDeck's daily/weekly ACH plus Stripe's % of all charges — workable for high-volume operators with healthy margins but real cash-management overhead.

OnDeck vs Stripe Capital — honest comparison 2026

Both fund small businesses. They solve different problems. Here's the honest side-by-side, then five use-case verdicts so you don't have to guess.

The specs

OnDeckStripe Capital

Product typeMulti-productMCA

Amount range$5K – $400K (term); $6K – $200K (LOC)$10K – $5M (varies by Stripe volume)

Cost (factor / APR)Term APR 27%+; LOC APR 30%+Single fixed fee (factor 1.06 – 1.20 typical); no APR / no compounding

Speed to fundSame-day for approved filesNext business day after acceptance

Min time in business12 months6 months

Min monthly revenue$8,000Stripe processing required; no public floor (algorithmically chosen)

Min credit score600+No FICO pull — underwrites entirely against Stripe payments history

Products

Term loan
LOC

Embedded merchant cash advance (Stripe + Stripe Connect platforms)

Verdicts by use case

Can actually apply (vs invitation-only) — Winner: OnDeck. OnDeck accepts applications from any qualifying merchant. Stripe Capital is invitation-only — Stripe picks who gets offers based on payments history. You can't apply.
Cheapest cost of capital — Winner: Stripe Capital. Stripe Capital's fixed-fee factor (1.06 – 1.20) on a 9 – 12 month repayment typically lands cheaper than OnDeck's 27%+ APR term loan or 30%+ APR LOC. High-volume A-paper Stripe users see single-digit-to-mid-teens APR equivalents — well below OnDeck. Stripe wins on cost when invited.
Larger deal size ($400K+) — Winner: Stripe Capital. Stripe Capital underwrites up to $5M for high-volume Stripe users. OnDeck term loans cap at $400K. For sizable embedded capital on a strong Stripe history, Stripe wins outright — when invited.
Capital not tied to Stripe processing — Winner: OnDeck. OnDeck funds into your business bank account; processor-independent. Stripe Capital pulls a fixed % of all Stripe charges; pause Stripe and you owe the balance within 60 days. Multi-processor or off-Stripe capital uses favor OnDeck.
Builds business credit — Winner: OnDeck. OnDeck reports to commercial credit bureaus on both term loan and LOC. Stripe Capital is structured as a receivables purchase and generally does not report. Merchants building business credit favor OnDeck.

The honest takeaway

OnDeck and Stripe Capital 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

Stripe offered me $80K at 1.09 factor; OnDeck pre-approved me for $100K term loan at 29% APR — which?: Stripe is cheaper on absolute fees (9% vs 29% APR over comparable horizons) but OnDeck is funding $20K more and reporting to bureaus. If you only need $80K, take Stripe — saves ~$15K in fees. If you need the full $100K or care about building business credit for a future SBA application, OnDeck's premium may be worth it.
I process $60K/mo through Stripe but Stripe hasn't offered me capital — what now?: OnDeck if you have 12+ mo TIB and 600+ FICO. Stripe's algorithm weighs account tenure, dispute rate, fraud signals, and growth trajectory — sudden revenue spikes or high churn routinely get skipped. OnDeck accepts most established Stripe users who clear its credit and TIB floors; don't wait indefinitely for a Stripe invitation.
Can I carry both at the same time?: Yes, but OnDeck's covenants require disclosure of outside debt during underwriting — disclose Stripe Capital. Some OnDeck files accept the stack; some decline. Carrying both means OnDeck's daily/weekly ACH plus Stripe's % of all charges — workable for high-volume operators with healthy margins but real cash-management overhead.