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Fast business loans from $10,000 to $250,000

Fast business loans from $10,000 to $250,000

Get the funds your business needs at lightning speed through our professional and streamlined service.

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What is a fast business loan?

A fast business loan from OnDeck means you can confidently make the right decisions for your business when they matter most. With an easy application process, your small loan can be approved in as fast as 30 minutes.

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    Get extra cashflow to support your growing business

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    Help you pay for urgent repairs or renovations for your business

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    Ensure you don't miss out on any deals due to lack of funds

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    See you through unforeseen or unfortunate situations

With Lightning Loans® up to $175,000, we make decisions 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. And, unlike most of our competitors, we don't need any upfront security.

How much can I borrow with a fast business loan?

OnDeck's fast business loans let you borrow between $10,000 and $250,000 over terms ranging from 6 to 24 months. The amount you can borrow will depend on your recent bank statements and we can provide you with a decision in as fast as 30 minutes. Our dedicated Australia-based Loan Specialists can help provide an indication of your expected loan amount over the phone. We offer flexible term options with weekly repayment options to support your cash flow as you make repayments.

What is a fast unsecured business loan?

OnDeck loans are unsecured business loans, this means that they're not backed by any security, like your home or business equipment. An unsecured loan is also called a working capital loan because it's meant to be used for everyday business expenses, like inventory, marketing campaigns, or hiring new employees.

Unsecured business finance could be a good solution to the problems many businesses face, they are less risky than a secured business loan and the fixed interest rates we offer make the repayment schedule predictable and easy to work with. Unlike a business line of credit or business overdraft, you will have a clear picture of when the loan will be repaid based on the scheduled payments. We can work together to find the best monthly repayments for your business cash flow. Our unsecured business loans range from $10,000 to $250,000.

Does your business qualify?

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    Minimum 1 year in business

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    Minimum $100,000 gross annual turnover

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    No bankruptcy (prior or recent)

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    Minimum 400 business credit score

What documentation do I need for a fast business loan?

It only takes a few minutes to apply. You will need 6 months of recent business bank statements, which 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.

Fast business loan facts

Minimum requirements

  • 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 business 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
  • A business loan can boost your credit score if scheduled repayments are paid on time
  • OnDeck has minimum documentation requirements, and your loan can be approved with as little as 6 months of recent business bank statements

Application process

  • You can apply, get approved and receive funds in as fast as 2 hours

Product features

  • Loan amounts range from $10,000 to $250,000
  • Terms range from 6 months to 24 months
  • Repayment terms are flexible with a weekly repayment option

What you can do with a fast business loan

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Renovating in the off season

Hannah first started her clothing store online in 2016. After a couple of years of growing, she decided to open a bricks-and-mortar store in Bondi to accommodate her customers' needs and increase storage capacity. While the price and location were right for her budget and customers, the layout wasn't suited for a clothing store.

After trying to make it work for a year, she realised the store needed a renovation. She took out a small business loan to knock down a wall, giving a much more open look and feel. She also redid the floors and painted the walls with funding from the loan.

Hannah shut her doors for a few weeks in the winter season, making it possible for her to re-launch the new space right in time for the summer sales and tourists. With a fresh, enticing environment and space for more customers in the store at one time, Hannah immediately saw a welcome boost in sales.

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Upgrading your equipment and machinery

Alex started his own construction business a couple of years ago in Melbourne. He owned the basic supplies and rented specialist equipment based on the specific job requirements. With some marketing and word-of-mouth referrals, his schedule quickly filled up and projects were being booked a couple of months in advance.

After more than a year of steady jobs and turning a profit, Alex decided to upgrade his equipment and buy a few more tools to eliminate the renting costs. He searched for tradie small business loans, and decided to apply through OnDeck. He was keen to take advantage of a massive end of financial year equipment sale he'd seen and OnDeck's fast approval times were appealing.

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Renovating in the off season

Sam owns a surf school in Noosa, which has a massive busy season during the summer but tapers off in the winter. After a few years in business, he became familiar with the cycle and wanted to better take advantage of the peak season. He decided the best way to do this was to increase his capacity to serve more customers. That involved buying more boards and hiring extra teachers. He had enough money saved up to buy a couple of boards and hire one person but anticipated quickly booking out within the first couple of weeks, even with the extra help.

To be properly prepared for the next busy season, he needed a cash injection to kickstart this upfront spending and applied for a small business loan to fund the cost. With that money, he was able to buy a dozen boards and hire three seasonal teachers. He more than doubled his profits that summer, paid off the loan, and saved enough money to fund the next year's wages for the summer staff.

What makes OnDeck's fast business loans so quick?

OnDeck is a non-bank lender, which means we aren't a bank, credit union, or building society. We need fewer financial details to be submitted with a loan application and have more flexible criteria to approve loans compared to banks. This streamlines our application and approval process and means you can receive funding faster.

OnDeck is the secure financing service that Australian small business owners can truly rely on. Created to support and empower small businesses with unsecured business loans, we are 100% committed to serving our customers with the smartest financing solutions and a world-class service fitting Australia's leading online lenders.

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Rate and Fees

Because non-bank lenders are privately owned institutions, they are able to alter their rates and fees to stay competitive against banks and other non-bank lenders.

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Easier and faster application

Banks require a more extensive set of financial documents with loan applications than non-bank lenders. This means that unsecured business loan applications with non-bank lenders are more streamlined and you can receive funding faster.

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More flexible criteria

Non-bank lenders will generally have more flexible criteria when it comes to requirements for unsecured business loan applications. This can include requirements such as time in business, minimum business revenue and minimum business credit score. Customer service and customer support can also be an advantage of non-bank lenders.

Great you're eligible! Here's how it works:

Online Application

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

Dedicated support

A dedicated Australia-based Loan Specialist will be in touch to help process your application

Frequently asked questions

Mortgage & Finance Association of Australia
Australian Finance Industry Association
Finance Brokers Association of Australia
Franchise Council of Australia

As featured on 2GB Sydney radio

Hear from Ross, the winner of OnDeck's $2,000 Business Bonus, in partnership with Ben Fordham and 2GB!

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