On Deck offers a free set of online tools designed to help small business owners quickly identify their lending options based on their cash flow and credit bureau data.
In just 5 minutes any business owner can find out what type of loans they would likely qualify for – ranging from a bank loan to short term business loans, factoring etc.
On Deck focuses primarily on business performance, rather than the credit scores of the business owner, and can offer healthy businesses quick access to affordable loans so they can meet their daily operating needs and achieve long-term goals.
In Company’s Own Words:
On Deck Capital offers fair and fast financing to small businesses that just miss the cut for traditional bank loans. Through the company’s network, millions of small businesses can obtain affordable loans to meet their daily operating and long term goals.
The company’s proprietary underwriting and loan processing platform looks deeper into the health of small businesses, focusing on the overall business performance, rather than the owner’s personal credit history.
On Deck Capital is making financial history by enabling institutional funds to directly reach Main Street for the first time.
Best Part Is:
You can prepay your loan at any time. However, given the short term of their loans, if you choose to prepay, you will still be required to pay all principal and all interest as if you kept the loan until maturity.
If you choose to prepay a portion of your loan, the prepayment will be applied to principal and interest just as your daily payment is applied.
Once you have successfully repaid 60% of your loan, you are eligible to apply for another loan to continue building your business.