COMPARISON
Banked.fyi vs OnDeck
An honest comparison to help you choose the right business funding partner for your needs.
✓ Unbiased Analysis✓ Real User Feedback✓ Updated December 2025
OVERVIEW
At a glance
B
Banked.fyi
RECOMMENDEDA modern business funding marketplace that connects you with 75+ lenders for the best rates and terms. Transparent pricing, fast approvals, and dedicated support.
Highlights
- No hard credit pull to check rates
- Access to 75+ lenders in one application
- Same-day funding available
- Transparent fee structure
- US-based support team
O
OnDeck
Est. 2006OnDeck is one of the largest online small business lenders, offering term loans and lines of credit. Now part of Enova International, they've funded over $14 billion to small businesses.
Pros
- Fast funding
- Transparent terms
- Loyalty program
- No prepayment penalty
Cons
- Higher rates
- Daily/weekly payments
- Requires 625+ credit score
FEATURES
Feature comparison
| Feature | Banked.fyi | OnDeck |
|---|---|---|
Soft Credit Pull to Check Rates See rates without impacting your credit score | ||
Same-Day Funding Get funds deposited the same day you apply | ||
Multiple Lender Options Compare offers from multiple lenders | ||
Bad Credit Accepted Options for credit scores below 600 | ||
No Collateral Required Unsecured funding options available | ||
Transparent Pricing Clear fee structure with no hidden costs | ||
Dedicated Advisor Personal support throughout the process | ||
Maximum Loan Amount Highest available funding | $5,000,000 | $250,000 |
Minimum Credit Score Credit requirements | All credit types | 625+ |
Time in Business Required Minimum operating history | 3 months | 1 year |
APR Range Interest rate range | 7.5% - 45% | 29.9% - 97.3% |
Funding Speed How quickly you can get funded | Same day - 7 days | 1-3 days |
Rate Competitiveness How competitive are the offered rates | 4.5 | 3.0 |
Application Experience Ease and speed of the application process | 4.5 | 4.0 |
Customer Support Quality Responsiveness and helpfulness of support | 5.0 | 4.0 |
RATINGS
How they compare
Interest Rates
Banked.fyi
4.5
OnDeck
3.0
Funding Speed
Banked.fyi
4.5
OnDeck
4.0
Customer Service
Banked.fyi
5.0
OnDeck
4.0
Flexibility
Banked.fyi
5.0
OnDeck
3.0
Overall Experience
Banked.fyi
4.5
OnDeck
4.0
OUR VERDICT
Banked.fyi edges out OnDeck
Both are solid options, but Banked.fyi's marketplace model gives you more flexibility and options. OnDeck excels at fast funding, but for most businesses seeking the best rates and terms, Banked.fyi's ability to compare multiple lenders in one application is a significant advantage.
FAQs
Common questions
Is Banked.fyi better than OnDeck?+
Both options have their strengths. Banked.fyi is a lending marketplace that connects you with 75+ lenders, giving you more options to compare. OnDeck is a direct lender with fast funding. The best choice depends on your specific needs, credit profile, and funding timeline.
What are the main differences between Banked.fyi and OnDeck?+
The key difference is that Banked.fyi provides access to 75+ lenders through one application, while OnDeck offers funding directly. Banked.fyi offers loan amounts up to $5M with funding as fast as 4 hours, while OnDeck offers up to $250,000 with funding in 1-3 days.
Which has better rates: Banked.fyi or OnDeck?+
Rates vary based on your business profile, credit score, and loan type. Banked.fyi's marketplace model often helps businesses find more competitive rates by comparing multiple lenders. OnDeck's rates range from 29.9% to 97.3%. We recommend checking both to see which offers better terms for your situation.
What credit score do I need for OnDeck?+
OnDeck typically requires a minimum credit score of 625+. Banked.fyi works with all credit types and can connect you with lenders even if you have bad credit, giving you more options to explore.
How fast can I get funded with OnDeck vs Banked.fyi?+
OnDeck typically funds in 1-3 days. With Banked.fyi, depending on the lender match, you can receive funding as fast as 4 hours for certain products, though most loans fund within 1-7 days.
Does OnDeck do a hard credit pull?+
OnDeck may perform a hard credit pull as part of the application process. Banked.fyi never performs a hard credit pull when checking your rates—only when you choose to proceed with a specific lender.