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United Settlement » Business Debt Relief » Small Business Debt » On Deck
admin March 27, 2018

On Deck: The leading online small business loan platform

On Deck small business loans is a leading platform for online small business lending, having originated more than $8 billion of loans across 700 industries in the United States, Canada and Australia since 2007. Through its use of proprietary technology and analytics, On Deck assesses the credit-worthiness of small businesses based on actual business performance while taking into account bank statement activity, business and personal credit reports, and government filings.

On Deck also considers tax and census data, along with additional factors such as social and reputational data. In 2017, 2016 and 2015, On Deck originated $2.1 billion, $2.4 billion and 1.9 billion of loans, respectively. On Deck’s 2017, 2016, and 2015 revenue figures of $351 million, $291.3 million and $254.8 million, represented year-over-year growth of 20%, 14% and 61%, respectively.

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Can I Get a Small Business Loan?

Through its website, On Deck allows small businesses to apply (24 hours a day – 7 days a week) for a term loan or line of credit. On Deck, using its proprietary technology, often makes a funding decision immediately and transfers funds as quickly as the same day. On Deck offers term loans ranging from $5,000 to $500,000, with maturities of three to thirty-six months, as well as lines of credit ranging from $6,000 to $100,000 that are generally repayable within six months of the most recent draw.

Qualified customers may carry both a term loan and line of credit simultaneously. On Deck also reports back to several business credit bureaus, a process that helps small businesses build their business credit profiles. Because On Deck requires no in-person meetings and collects comprehensive information electronically online, it has enhanced the convenience and efficiency of the small business loan application process.

term-loans-rangings

Are you in debt? we can help

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Excellent

Based on 377 reviews.
Overall 4.4 out of 5 stars

View All Reviews

Annette Huggins

March 14

That when it seems like nobody can help United will.

This was a great experience for me. I am just starting but Madelene Gallon made me feel like we were friends for years. She tried to make me feel that she would help me and make sure I got the best deal...

Kiirstin

March 01

Kind and caring

Had been searching for a while for a company I could trust to get me out of crippling debt. Really didn’t think it was possible. Spoke to Ben at United Debt and he assured me that not only was it possible,...

Kiirstin

March 01

Kind and caring

Had been searching for a while for a company I could trust to get me out of crippling debt. Really didn’t think it was possible. Spoke to Ben at United Debt and he assured me that not only was it possible,...

Dylan

February 28

Quick, easy assistance!

I've been working with Ben at United Debt to help me organize and get out of debt for once - I've been dealing with debt for ages and Ben showed me some simple ways to begin dealing with things to keep...

Takota Carrie

February 14

I need help

I really appreciate

JONICA Amber PIRON

December 21

Great!

Renika went above and beyond today to help me. She is wonderful to work with! Thank you again Renika for all of your help today! Happy Holidays to you!

Jayvon

December 20

Paying back

They where great listeners

Shawn abetha

December 14

Everything

Thanks

Robert Phillips

November 23

Do your home eork

Paid several thousand dollars and nothing done. Ended up settling 90%by myself. This is a preatory company. So do your homework. This will never post.

Dm

November 18

Customer service is truly helpful

Renika was so helpful. My account was paid off but I kept receiving notifications. She cleared up the situation.

Jose Rosa

November 16

Great Customer Service

Renika did a wonderful job handling my questions and transactions. She is very patient on the phone and took care of my needs accordingly.

Russ

November 03

Very helpful

Renika did a great job in answering all of my questions in a timely manner. She was polite and friendly. Keep her on the payroll.

Anthony Desoto

October 31

What's Important to me is United Settlement Costumer service !

United Settlement Costumer service is Amazing Everyone is Professional . I am so happy choosing them with my card Debt. thank you all for helping me out .

Ri cky

August 23

That this company has integrity!

A responsive company that keeps it clients up to date and fully informed. I like the fact that I can send them a text and be guaranteed an answer within 24 hrs.

Jerry Bolandis

June 04

Professional and focused on facts and truth not hype. Excellent. We want to know facts.

Great work very professional and great updates. Communication is excellent.

janice head

October 25

trust them

Excellent. Also each time i call there they treat me with respect even though they are probably thinking jerk . You sure have made mess of your life. but they have been taught to smile smile smile. this...

Scott W O'Neill

August 01

Thanks for all your help and negotiations.

Thanks for the update! I have faith in you guys and will continue my payments. Thanks for all your help and negotiations.

Cassandra Robinson

July 30

That A Settlement Was Entered.

I Absolutely Love You All At United Settlements. You All Have Saved My Credit Solutions. I Would Refer Everyone To You Services.

Mildred Yvonne Sherron

July 16

The results of the settlement attempts.

So far, I have found United Settlement more than satisfactory. Very conscientious and very efficient in providing a service in debt settlement. Thank you and all the members of your team who are assisting...

Diana Cardona

July 16

Tough Financial Hard Times During Covid-19

I signed up with United Debt Settlement because of large credit card debts, which had taken a financial toll on my credit. UDS has an outstanding reputation assisting clients like me achieve financial recovery...

The Small Business Loan Market and On Deck Customer Statistics

The size of the small business loan market is vast. According to the FDIC, as of June 30, 2017, there were 24.7 million small business loans with originations of under $250,000, amounting to a total of $207 billion in small business loans outstanding. In 2017, the top five states in which On Deck or its issuing bank partner originated loans were California, Florida, Texas, New York and Illinois, representing approximately 14%, 9%, 9%, 7% and 4% of the company’s total loan origination’s, respectively.

At the close of 2017, the median annual revenue of On Deck’s customers was approximately $631,000, with 90% of its customers generating between $161,000 and $3.8 million in annual revenue. Meantime, the median length of time its customers had been in business was eight years, with 90% having been in business between two and thirty years. During 2017, On Deck’s average term loan was approximately $57,000, while the average credit line extended to a customer was approximately $23,000.

On Deck Company Profile

Headquartered in New York City, with offices in Arlington VA, Denver CO, and Sydney, Australia, On Deck is a publicly traded company on the New York Stock Exchange, trading under the ticker symbol ONDK. In 2017, On Deck was featured in Crain’s New York Business as one of New York’s 50 Fastest Growing Companies.

On Deck’s most recent Net Promoter Score (an index ranging from -100 to 100 that measures customer loyalty) of 79 places it at the upper end of customer satisfaction, ranking considerably higher than the average Net Promoter Score of 35 for the financial services industry. This high customer satisfaction is also evidenced by a strong level of repeat borrowing by customers. In 2017, 2016, and 2015, 52%, 53% and 57%, respectively, of loan originations came from repeat term loan customers, who often take larger term loans than previously undertaken.

Small Business Debt Relief

If you are currently burdened by high levels of business debt, the process of pursuing debt settlement may make sense for you and your small business. Debt settlement occurs when a debtor successfully negotiates a payoff amount for less than the total balance owed on a debt. This lower amount is agreed to by the creditor and is fully documented in writing. Though creditors are under no legal obligation to accept debt settlement offers, negotiating and paying lower amounts to settle debts is far more common than many people realize.

United Settlement and On Deck

Clearly, On Deck is no small player in the small business loan marketplace. At United Settlement, we are proud to help those small businesses truly in hardship. We do not deal with businesses that are not already behind on payments and / or on the brink of closing shop. Our core values, integrity, and ethical approach helps us maintain strong working relationship with juggernauts such as On Deck.

Our experienced debt settlement professionals have successfully negotiated business debt settlements with On Deck for clients who truly were facing serious financial hardship and stress that have resulted in large saving the total balance owed. At United Settlement, our experienced business debt settlement specialists possess past relationships with On Deck and more small business lenders.

Our team has an expert level understanding small business landscape, we know when a business is facing hardship and can help get you to financial freedom. See if you qualify for small business debt relief.

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    Clients who stay according to debt relief program can realize approximate savings of 50% before fees, or 25% including fees, over 24 to 48 months. All claims are based on enrolled debts. Not all debts are eligible for enrollment. Not all clients complete our program for reasons such as: their ability to save sufficient funds. Estimates based on prior results, which will vary based on specific circumstances. We do not guarantee that your debts will be lowered by a specific amount or percentage or that you will be debt-free within a specific period. We do not assume consumer and/or business debt, provide tax, bankruptcy, accounting, legal or credit repair services/ advice. Our program is not available in all states. Please contact a tax professional to discuss tax consequences of settlement. Please consult with a bankruptcy attorney for more information on bankruptcy. If you have any additional questions please contact us. NMLS ID: 1947026
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