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What is a cash flow loan?
For small business, managing a healthy cash flow (the movement of money in and out of the business) is critical for success. Poor cash flow can lead to interruptions in your activity and mean any small knock, like an unexpected bill or event, hits hard and could even result in the end for your business.
To take the stress out of managing cash flow, many small businesses use a cash flow loan to help cover any shortfalls, see them through quiet periods, or simply as a buffer in case the unexpected happens.
Does OnDeck offer cash flow loans?
Yes! Getting a loan to help with cash flow is easy with OnDeck. We have a simple application process and work fast to get the funds to you quickly with no fuss.
Our cash flow loans can:
Help see you through quieter periods, especially for seasonal businesses
Help bridge the gap between client payment and employee payday
Help with any unexpected bills
Ensure you don't miss out on any deals due to lack of funds
See you through unexpected or unfortunate situations (like severe weather interruptions)
Act as a buffer for peace of mind, taking the stress out of financials
How quickly can I get help with my cash flow?
With OnDeck, getting a cash flow loan is easy. With our simple application process and minimal documentation requirements, your loan can be approved with funds in your bank account in as little as 2 hours.
Will you ask me for security on the loan?
No. Unlike most of our competitors, we won't ask for any upfront security*, such as your house or car, on loans up to $250,000.
Cash flow loans up to $175,000 funded in 2 hours with Lightning Loans®
With Lightning Loans®, we can make decisions on your cash flow loan in minutes and the funds can be with you in as fast as 2 hours. For more complex loans up to $250,000 we can complete them in as fast as 1 business day.
How much can I borrow with a cash flow loan?
OnDeck's cash flow loans let you borrow between $10,000 and $250,000 over terms ranging from 6 to 24 months. The amount you can borrow depends on several factors including your business credit score and recent bank statements. Our dedicated Australia-based Loan Specialists can help with an indication of your expected loan amount over the phone and approval in as fast as 30 minutes. We offer flexible terms with weekly repayment options to help support your cashflow.
What documents do I need to apply for a cash flow loan?
It's easy and only takes a few minutes to apply. All you'll need is 6 months of recent business bank statements. These can be uploaded at the end of the application via our secure portal.
As we assess each application on a case-by-case basis, you may also need to provide details of your financial circumstances, i.e. assets, debts, income and expenses.
How do cash flow loan repayments work?
Repayment plans are flexible around how much you can afford to pay. There's a minimum term of 6 months and a maximum of 24. You'll make payments weekly, and the amount depends on how much you have borrowed as well as the term of the loan.
Great you're eligible! Here's how it works:
Complete a quick and easy application - it only takes a few minutes
Loans as fast as 2 hours
Our lightning loans up to $175k can be funded in as fast as 2 hours - simply provide 6 months bank statements
$250k in a day!
More complex loans of up to $250k can be completed in as fast as 1 business day
A dedicated Australia-based Loan Specialist will be in touch to help process your application
Summary of key facts
- Revenue: If your business has had steady income, meets the minimum business revenue requirement, and can make the repayment terms, then you will probably be eligible for a cash flow loan
- Business credit score: With a set minimum business credit score, it's easy to know whether you can be considered for a business loan with OnDeck
- OnDeck has minimal documentation requirements, and your loan can be approved with as little as 6 months of recent business bank statements.
- You can apply, get approved and receive funds in as fast as 2 hours
- Loan amounts range from $10,000 to $250,000
- Terms range from 6 months to 24 months
- Repayment terms are flexible and there's a weekly repayment option
What can I do with a cash flow loan?
Cash flow loans help you keep your business running smoothly. Here are some examples of how our clients use their cash flow loans:
Many cash flow loans are used to bridge the time gaps between paying staff and receiving payment from clients.
Businesses may need funds to take advantage of an opportunity that comes up that they would profit from, that they may miss out without an initial outlay.
Cash flow loans are popular for seasonal businesses, like landscape construction and tourism, who wish to retain staff during slower periods.
Peace of mind
Managing cash flow can be stressful for owners of small businesses. Many of our clients take out a cash flow loan simply for peace of mind that there's a buffer should the unexpected arise.
Here's how some of our customers have used their cash flow loans
Time gaps between staff payday and client payment
Tony runs a small construction company with a permanent staff of 4. Demand for Tony's services has been very high recently, but his business has had a few set-backs and delays due to weather and building supply issues. With clients only paying once stages of work are completed, the income Tony predicted would come into the business has also been delayed.
Tony is worried he won't be able to pay his loyal staff, who he needs to retain in order to get the work done. He contacts OnDeck to talk about his options and is relieved to hear they can help. Within 2 hours he has the funds he needs in his bank account and is able to pay his staff, hassle-free. Tony goes on to complete his projects with a full and happy team and can invoice his clients for payment.
Help through quiet periods
Susan has been running a successful café business in a coastal town for over 3 years and has recently opened a second café with a beachfront location close by. The café will be buzzing in the summer months when tourists visit the area, and Susan has been using the winter to prepare.
Conscious that there's currently a labour shortage, Susan has established a team of talented workers who she's keen to retain during this initial quiet period to ensure she has enough staff to cope with the busy summer months. She uses a cash flow loan to cover their wages temporarily. Come summer, this decision pays off. As predicted the café is heaving but Susan has a trained, experienced team able to cope with the pressure, putting Susan in a great position to maximise her profit and make the most of the lucrative period.