OnDeck’s new broker experience combines quotes in seconds, automated loan approvals in minutes and live deal updates with early results showing a 29% increase in loan origination volume from pilot brokers.
- OnDeck’s new Lightning Check tool for brokers delivers quotes in under 60 seconds, 24/7, with no credit check required.
- Brokers can proceed directly to an online Lightning Loan application, with a median approval time of just 4.2 minutes* for eligible applications.
- Over 3,900 Lightning Check quotes were completed during the six-week pilot, with $124 million in loans approved following a Lightning Check.
- OnDeck recorded a 29% increase in loan originations from brokers participating in the pilot, with average requested loan amounts rising 16%.
OnDeck Australia has launched its new end-to-end broker experience, allowing brokers to move from an indicative quote to loan approval in minutes, following a successful pilot.
The new experience combines near-instant quoting, automated lending decisions and live deal updates, giving brokers greater visibility and control over the lending process while cutting out much of the waiting and back-and-forth.
At the centre of the new experience is Lightning Check, OnDeck’s new prequalification tool, which allows brokers to explore their clients’ funding options in less than 60 seconds, 24/7, and without impacting their clients’ credit scores.
Brokers can then progress directly from quote to an online Lightning Loan application, with a median approval time of just 4.2 minutes* for loans up to $200,000.
Pilot brokers lending more
The launch follows a successful six-week pilot, with more than 3,900 Lightning Checks completed and $124 million in loans approved following a Lightning Check quote.
Early results also point to stronger lending activity with OnDeck, with loan originations from participating brokers increasing by 29% and average requested loan amounts rising 16%.
OnDeck Australia CEO Cameron Poolman said the launch marks a significant milestone in the company’s ambition to build a world-class small business lending experience.
“We know what matters to our broker partners: clarity on pricing, confidence in their clients’ funding options and an experience that doesn’t slow them down,” Poolman said.
“We believe brokers should be able to deliver the same speed and convenience their clients have come to expect from other digital services. That means getting answers when they need them.
“We’re not just making lending faster. We’re building an experience that gives brokers more confidence, more control and more opportunities to grow their business.
“The early results are encouraging. We’re seeing brokers participating in the pilot write more business with OnDeck and explore larger funding opportunities for their clients. It’s a promising indication of what a faster, simpler lending experience can deliver.”
Joe Innes, Senior Commercial Finance Broker at Finwave Financial Services(opens in new tab), said Lightning Check has helped his team move faster and set client expectations upfront.
“ OnDeck’s new Lightning Check tool has been a game changer for us. Being able to get an instant answer on a client’s eligibility allows us to move quickly, set expectations upfront and provide clients with immediate feedback. It’s a great tool that makes the entire process more efficient for both brokers and clients.”
Greater control for brokers
OnDeck’s new broker experience and Lightning Check tool is currently being rolled out to brokers accredited with OnDeck.
It’s designed to reduce administrative back-and-forth, improve transparency and give brokers greater control over how and when they engage with their clients.
- Lightning Check provides an indicative loan quote in under 60 seconds, including maximum loan amount, term and pricing.
- Available 24/7, the tool requires no credit check, allowing brokers to explore funding options without impacting their client’s credit scores.
- Brokers can proceed directly to an online Lightning Loan application, with a median approval time of just 4.2 minutes* for eligible applications.
- Live updates keep brokers in the loop as their client’s loan application progress.
About OnDeck
OnDeck is a small business lending specialist dedicated to simplifying and streamlining business finance. OnDeck offers lightning-fast, unsecured business loans from $10,000 to $300,000*. Learn more at ondeck.com.au
Media contact
For media enquiries or interview requests, please reach out to media@ondeck.com.au
*Median time from application submission to approval for loans up to $200,000, new customers (September 2026). Processing times may vary. Loan eligibility, approval criteria, fees, charges, and T&Cs apply. All our loans are unsecured, although a personal guarantee is required. Loan amounts, terms and approval times vary. On Deck Capital Australia Pty Ltd ABN 28 603 753 215. OnDeck® is a Registered Trademark. All rights reserved. Information provided by OnDeck is general in nature and should not be considered financial advice. You should consider whether it is appropriate to your circumstances and seek independent advice where appropriate.
