Your Business. Your Rewards.
Receive a gift card valued up to $1,000* with OnDeck
What is a working capital loan?
A working capital loan from OnDeck helps you access the funds your business needs, when it needs them, so that finances don't get in the way of your business success. Applying for a working capital loan is easy and with our simple application process, your loan can be approved and in your bank account in as little as 2 hours.
Help with cashflow issues during slower times or bridge the gap between staff payday and client payment
Give you the extra funds you need for purchases like extra stock or marketing
Be used for short-term expenses from paying staff to expanding your business
Ensure you don't miss out on any deals due to lack of funds
See you through unforeseen or unfortunate situations (like severe weather interruptions)
Working capital loans up to $175,000 funded in 2 hours with OnDeck Lightning Loans®
With Lightning Loans®, we can make decisions on your working capital 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.
No upfront security
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.
How much can I borrow with a working capital loan?
OnDeck's working capital 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 working capital 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 working capital loan repayments work?
Repayment plans are flexible around how much you can afford to pay. There's a minimum term of 6 months and 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
Here's a summary of key facts to consider when deciding if a working capital loan is right for your business:
- 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 working capital 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 working capital loan?
Working capital loans can help you develop, expand and improve your business, or simply ease cash flow to keep things running smoothly. Here are some examples of how our clients use their working capital loans:
Cash-flow to pay staff
Many working capital 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 for seasonal businesses
Working capital loans are popular for seasonal businesses, like landscape construction and tourism, who wish to retain staff during slower periods.
Expanding during quieter times
When it comes to expanding your business, you can find yourself without the time during busier times and without the funds during quieter times. A working capital loan can give you the finances to make the most of slower periods.