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Small Business Loans
From $10,000 to $250,000

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Estimate the weekly payment of a business loan

Our Business Loan Calculator provides an estimate of weekly payments for different loan amounts and terms

Select your desired loan amount


Select your desired loan term

9 months
Weekly repayments:
Number of repayments:
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* For illustration purposes only.

What is a small business loan?

Small business loans come in different shapes and sizes and serve different purposes. Whether you are a new business owner, looking to expand your business or need some help with your cash flow, there is a business loan suitable for you. Small business loans can either be secured or unsecured.

A secured loan is a loan that is guaranteed by an asset, such as a property or a car.  On the other hand, unsecured loans do not require any security, hence, interest rates on unsecured loans are typically higher than that of a secured loan.

Small business loans can be beneficial for your business in several situations including:

      Increase your cash-flow and purchase stock to grow your business

      upgrade your equipment and machinery

      Attract new customers with marketing and promotions

    Refit, renovate or expand your premises


Am I Qualified for a Small Business Loan?

OnDeck provides business loans for a range of businesses. To find out if your business qualifies for a loan, read on for our small business loans requirements.


Minimum Business Score

A minimum business score of 500 is required as one of OnDeck’s small business loans qualifications. Your business credit score is based on how likely you are as a business to pay your bills on time. You can check your business score for free here.


Time in the industry
(Minimum 1 year in business)

You must have been in business in your industry for a minimum of one year to qualify for an OnDeck small business loan.


Minimum revenue
(Minimum $100k gross annual turnover)

Your business must have a minimum gross annual turnover of $100,000 to qualify for a small business loan from OnDeck.


No bankruptcy

You must not have been through bankruptcy either prior or recently in order to meet OnDeck’s small business loan requirements.


Minimum 6 monthly deposits

A minimum of 6 monthly deposits are required in order for you to be eligible for a small business loan.


How much can I borrow with a small business loan?

OnDeck small business loans range from a minimum of $10,000 to a maximum of $250,000. The amount you can borrow will depend on how much you are able to pay back in weekly or daily instalments as a business.

You can use our business loan calculator below to estimate how much you would be required to pay in weekly instalments based on your desired loan amount and loan term .


Step 1. Small Business Loan Application

You will first need to fill out a small business loans application. The application should take no longer than 10 minutes and is in four parts: Create a login, About Your Business, About You, and Bank Statements. To streamline your application process, make sure to have your required documentation on hand and ready to submit. You will need your personal bank statements, business financial statements, and identity documents (Drivers Licence or Passport). You may also need to provide details of your personal financial circumstances, i.e. assets, debts, income, expenses. Start your application here.


Step 2. Application Processing Time

Once your application has been submitted, our team will then verify your documents and review your business credit score and application. Approval can be as fast as 1 business day with the funds in your account that same day.


Step 3. Receiving Funds

Once approved, the funds will be deposited into your given bank account.


Step 4. Repayments

Our small business loan minimum term is 6 months, and our maximum loan term is 24 months. OnDeck offers flexible repayment options, including weekly and daily automatic payment options. Your repayment amount depends on your agreed loan amount and loan term. See a rough estimation of repayments with our business loan calculator.


Expanding Your Business

Chris owns a local Chinese restaurant in a suburban town that has been booming for well over a year now. Bookings for lunch time and dinner are generally encouraged as walk-ins may not be guaranteed a table or may need to wait some time before customers are able to be seated. Chris is having no troubles employing new staff; however, the space capacity of his restaurant is not enough to meet the new demand in customers.


The store next-door to Chris’ restaurant, a boutique women’s fashion store, has just shut its doors and the space is now available for lease. Chris thinks this would be a great opportunity for him to expand his restaurant business and pull in more customers. A small business loan could help him with his leasing costs, new equipment, and staff payments.

Seasonal Changes and Unforeseen Circumstances

Seasonal businesses often find it difficult to generate stable revenue across the year. Seasonal small businesses such as swimwear companies, vacation resorts and snow gear companies will find that small business loans can significantly help during the off-season periods. A seasonal business loan, such as a short-term loan, can help these business owners manage cash flow through their low sales months.


At other times, unforeseen circumstances may arise that can be detrimental to small businesses. Josh runs a busy café in the business district in Melbourne CBD. Business was going well until recently when COVID-19 forced communities into lockdown and businesses to temporarily shut its doors. Josh’s café has been temporarily closed for the past 4 months and as a result, his cash flow is running dry. Josh has enough money to stay closed for a few more months but may need assistance with his funding when he opens his doors again to pay staff and purchase supplies. He can take out a small business loan to help him get back on track once his business reopens.

Upgrading Equipment and Business Technology

With new business technology being introduced each year, it can be hard for businesses to stay modern and keep up to date with the latest gadgets. Mary owns a beauty salon in the CBD that has been established for 4 years. When Mary first opened, her business model was unique and thus had an abundance of customers. Since then, similar beauty salons and studios have opened in the vicinity and although Mary has had enough loyal customers to keep her in business, she’s not generating a high enough profit to keep her in business over the next few years.

There have been several beauty technology developments in the recent years that have made competitors a better alternative for customers. Mary has realised that she needs to upgrade her salon equipment, including her massage beds and salon chairs, to draw in more customers and improve the customer experience for her customers. To do this, Mary can take out an equipment financing loan.