When it comes to beginning your own business, you certainly need better finance options and larger sums as well. In such cases, its best to consider business loans. And when it comes to business loans, you should opt for OnDeck small business loans for a better experience!
OnDeck Small Business Loans
OnDeck is a lending company that is known for providing customers with convenience, speed and lesser qualifications that many banks out there when it comes to loans. This online business loan service can cost you a little high APR (annual percentage rate) but the services are worth the price. If you are looking to apply for a business loan from OnDeck, you should know that certain quality makes OnDeck small business loans the best:
- If you need cash at a faster pace, you can apply for a loan online or call onDeck. In about ten minutes or less, your loan is approved and your funds are transferred in under 24 hours!
- For OnDeck you only need a personal credit score of 500 to 600 and you can still get a loan approved
- If your business has unexpected expenses that are costly, OnDeck small business loans let you receive cash in a pinch of time.
OnDeck small business loans: The good reasons
OnDeck small business loans are fast and easy. Your applications can be cleared in a fraction of an hour without any trouble. The company only requires very basic information for application such as business tax ID, bank statements of last three months, social security number, driver’s license and so on.
These loans also do not require collateral. Which just means that your home and any other asset will not be under threat if you fail to pay back your loan on time. You just need to make sure that you are in the business field for at least two years. Then, you can qualify for the loans.
With that if you are a loyal customer of OnDeck loans, you can even qualify for cheaper loans. The APR amount on your loan is set between 2.5% to 4%, however this can drop to 1.25% to 3% if you apply for a second loan. On your third and other loans it can drop to 0% to 3% as well.