Short-term loans with OnDeck
Frequently Asked Questions
Coast Capital Savings has partnered with OnDeck to help provide our members with access to short-term, unsecured loans. Below are some of the most frequently asked questions about their lending process. For more information, give us a shout or contact OnDeck directly at 1.888.671.3601.
A. OnDeck is a leading online small business lender dedicated to changing the way small business owners access capital. Since 2007, OnDeck has delivered over $11 Billion to small businesses like yours across the U.S. and Canada.
A. OnDeck’s simple application can be finished in minutes either online or by phone. You can get a decision in as fast as 1 business day.
A. If qualified, your business can be funded in as fast as 1 business day from the time you are approved.
A. OnDeck works with businesses in over 700 industries ranging from physicians and restaurants to repair shops and retailers. Businesses must have been in business for at least 1 year and have at least $100,000 annual revenue to be eligible for an OnDeck loan.
A. While we believe your company is a great fit for an OnDeck loan, this is not a guaranteed offer of credit and you will need to complete an application.
A. While many lenders solely focus on personal credit scores and available collateral, OnDeck also focuses on additional data such as cash flow when analyzing your business. This means OnDeck can approve many businesses that may have trouble getting financing elsewhere.
A. You can reach OnDeck’s loan specialists Monday to Friday from 8am to 8pm ET at 1.888.671.3601.
A. While you may find lower rates elsewhere, OnDeck’s application and funding process can’t be beat in ease and speed. OnDeck’s rates are competitive and customer service is world-class.
A. No, OnDeck always does a soft inquiry when you apply for financing unless your credit file is restricted, in which case OnDeck would contact you by phone to lift the restriction and do a hard pull, which can temporarily affect your credit score.
A. Log in to your OnDeck account to see the progress of your loan application as well as any other information related to your loan. Once your loan is funded, the amount is transferred in a lump sum to your Coast Capital Savings account.