OnDeck APR Calculator
OnDeck is one of the largest lending platforms for small business loans. They offer a 24-month term loan and a 6-month line of credit. They offer their term loans from $5,000 – $500,000, and lines of credit up to $100,000. You pay your loan back with either fixed daily or weekly payments.
Their business loan’s fee structure is slightly different from traditional term loans, so be sure to use the calculator below to find out the true cost of your loan. According to their webpage, the average total interest rate for an OnDeck loan is 19%, plus an origination fee of 2.5% for the first loan, 1.25% for the second loan, and 0-1.25% for the third loan.