Quick answer
OnDeck's published minimums are 12 months in business, $8,000 average monthly revenue, and 600+ FICO. Higher bar than typical MCA funders but offers APR-transparent term loans + LOCs (vs MCA factor structure). Documents: 3 months bank statements, voided check, ID. Approval in hours; same-day funding for approved files.
Full answer
OnDeck's published underwriting box: minimum 12 months operating (notably higher than 6-month MCA funders), $8,000 average monthly revenue (notably lower than $15K many MCAs require), and 600+ FICO credit. Different shape from typical MCA underwriting.
Products: term loans ($5K-$400K, APR 27%+, 3-24 month terms) + business LOC ($6K-$200K, APR 30%+). Both APR-disclosed (no factor-rate ambiguity).
Documents: 3 months business bank statements, voided business check, government-issued ID. Less paperwork than SBA but more than embedded products (Stripe Capital, Square Capital).
Approval timeline: minutes to hours for clean files. Same-day funding for approved files — fastest in the term-loan space. Funding via ACH.
Where OnDeck excels: established merchants (12+ months) wanting cheaper alternative to MCA factor pricing. APR-disclosed = comparable to other loans. Direct lender — no broker markup.
Where to be careful: APRs at 27%+ aren't cheap, just cheaper than MCA factor equivalents. Daily/weekly auto-debit aggressive on cash flow. Personal guarantee required.
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Methodology. Fundnode is an independent funding-platform that scores merchants against our 100-funder database. We earn referral fees from funders when merchants apply via Fundnode. Editorial rankings and answers are independent of fee structure. Updated 2026-06-25.