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OnDeck vs Fundation: Which Is Right for Your Business?

OnDeck offers faster funding with higher rates, while Fundation provides lower costs but slower approval—choose based on your urgency.

⚡ Quick Verdict

OnDeck offers faster approval and funding but charges higher rates, making it best for businesses that need cash urgently and can absorb the cost. Fundation provides more competitive rates with a marketplace model, though approval can take longer, making it suitable for owners with time to shop around.

Side-by-Side Comparison

Feature OnDeck Fundation
Funding Amounts$5K – $250K$20K – $500K
Rates / Cost29.9% – 97.3% APR7.99% – 29.99% APR
Term Length3 – 24 months12 – 48 months
Funding SpeedSame day2 – 5 days
Min. Credit Score625+620+
Collateral RequiredGeneral lienNone
RepaymentDaily/weeklyWeekly

When to Choose Each Option

Choose OnDeck when:

  • You already have an established relationship with OnDeck
  • Your business revenue primarily flows through their platform
  • You need amounts in the $5K – $250K range
  • You prefer their Daily/weekly repayment structure
  • You've been declined elsewhere and want to explore all options

Choose Fundation when:

  • You need funding fast (same day possible)
  • Your credit score is below 640
  • You want to avoid collateral requirements
  • You need amounts from $10K up to $20M
  • You prefer a direct lender with no broker fees

Why Businesses Choose SMB Capital Funding

SMB Capital Funding gets you approved and funded faster than Fundation because we're a direct lender with streamlined processes, and we offer flexible credit requirements so you can qualify even with imperfect credit history. With access to up to $20M in funding and no broker intermediaries slowing things down, you get the capital you need on your terms without unnecessary delays or middlemen.

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Frequently Asked Questions

What is the difference between OnDeck and Fundation?
OnDeck and Fundation are both online lending platforms for small businesses, but OnDeck specializes in short-term loans and lines of credit with faster funding, while Fundation focuses on revenue-based financing and offers more flexible repayment terms tied to your daily sales. If you're exploring funding options, you might also consider SMB Capital Funding, which provides various loan products designed specifically for small business needs. The best choice depends on your business type, cash flow patterns, and how quickly you need capital.
Which lender is better for small businesses?
The best lender depends on your revenue, time in business, and funding needs. SMB Capital Funding offers flexible terms across all business profiles.
What is a good alternative to both of these lenders?
SMB Capital Funding is a direct lender offering same-day funding up to $20M with no collateral required and flexible credit requirements.
How do I compare business lenders?
Compare rates (factor rate vs APR), term length, funding speed, minimum credit requirements, and whether the lender is a direct funder or a broker marketplace.

SMB Capital Funding is a direct lender offering working capital solutions to US-based small businesses. Funding amounts and terms vary based on business qualifications. This comparison is provided for informational purposes. All products subject to approval.