Is OnDeck or National Funding better for small business funding?

National Funding is more accessible on credit. It publishes no strict minimum score and underwrites on revenue, requiring $250,000+ annual sales and 6 months in business. OnDeck requires a 625+ credit score, 1+ year in business, and $100,000+ annual revenue. If your credit is weak but revenue is strong, National Funding is the better fit; if you are established with good credit, OnDeck's APR-based terms may cost less.

What do OnDeck and National Funding charge?

They price differently. OnDeck no longer offers MCAs — it uses APR-based term loans (29.9% to 97.3% APR) and lines of credit. National Funding uses factor rates starting at 1.10 (typically up to about 1.20) plus a 1% to 3% origination fee. Compare total dollar cost, not the headline number, since one is an APR and the other is a factor rate.

How much can I borrow from OnDeck vs National Funding?

OnDeck offers $5,000 to $250,000 on term loans and $6,000 to $100,000 on lines of credit. National Funding offers working capital loans from $5,000 to $500,000 and equipment financing up to $150,000. National Funding has the higher ceiling at $500,000.

Which funds faster, OnDeck or National Funding?

Both are fast. National Funding advertises decisions in as little as 24 hours with same-day deposits available. OnDeck approves in 24 to 48 hours and funds in 1 to 3 business days. National Funding can edge ahead on same-day funding for straightforward files.

OnDeck vs National Funding: Which Is Better for Your Business? (2026)

OnDeck and National Funding are two of the most recognized names in fast small business financing, but they are structured differently. OnDeck, since its 2020 acquisition by Enova, no longer offers merchant cash advances — it sells APR-based term loans and lines of credit. National Funding offers working capital loans priced with a factor rate, plus equipment financing.

Here is how they compare on the details that matter.

Side-by-Side Comparison

Feature	OnDeck	National Funding
Pricing	APR 29.9%–97.3% (term loan)	Factor rate from 1.10 (~up to 1.20)
Advance range	$5,000–$250,000	$5,000–$500,000
Min. credit score	625+	No strict minimum (revenue-driven)
Time in business	1+ year	6+ months
Min. revenue	$100,000/year	$250,000/year
Funding speed	1–3 business days	Same day to 48 hours
Prepayment	No penalty	No penalty; possible discount

Data verified as of 2026. Terms vary by business and are subject to change — confirm current offers directly with each provider.

Qualification Requirements

OnDeck wants 1+ year in business (it prefers 2+), a 625+ credit score, and $100,000+ annual revenue. Its proprietary OnDeck Score weighs deposit consistency heavily, so steady cash flow can matter more than the FICO number.

National Funding publishes no strict minimum credit score and underwrites primarily on revenue, requiring $250,000+ in annual sales and just 6 months in business. That makes it friendlier to owners with bruised credit but tougher on the revenue bar. If your credit is weak but sales are strong, National Funding is the realistic door.

Cost

This is where the two products diverge most. OnDeck uses APR-based pricing — 29.9% to 97.3% APR on term loans and 29.9% to 65.9% on lines of credit — with origination of 2.4% to 4%. The APR is published and easy to compare against other loans.

National Funding prices with a factor rate starting at 1.10 (typically up to about 1.20 for strong files) and adds a 1% to 3% origination fee (usually around 2%). On a $50,000 loan at a 1.18 factor with a 2% fee, total repayment is roughly $60,000. Because one quotes an APR and the other a factor rate, always convert both to total dollars repaid before deciding.

Funding Amounts

National Funding has the higher ceiling at $500,000 for working capital, versus OnDeck’s $250,000 cap on both term loans and lines of credit. Both start around $5,000, so for smaller needs they are comparable; for six-figure amounts above $250,000, National Funding is the one of the two that can reach it.

Funding Speed

Both are fast. National Funding advertises decisions in as little as 24 hours with same-day deposits for approved loans. OnDeck approves in 24 to 48 hours and funds in 1 to 3 business days. For the most urgent needs, National Funding can edge ahead.

When to Choose OnDeck

You have 1 to 2+ years in business and a 625+ credit score
You want transparent APR pricing rather than a factor rate
You value a long-established, publicly backed lender
You want the option of a revolving line of credit
Your need is $250,000 or less

When to Choose National Funding

Your credit is weak but your revenue is strong ($250,000+ annually)
You need up to $500,000
You want same-day funding
You prefer a dedicated Funding Specialist guiding the process
You also need equipment financing

The Bottom Line

OnDeck and National Funding both fill the gap between slow bank loans and expensive cash advances. OnDeck rewards established businesses with good credit through transparent APR-based products. National Funding rewards strong revenue regardless of credit, funds larger amounts, and often moves faster.

Request quotes from both on the same dollar amount, calculate the total repayment plus fees, and pick the one whose cost and cash-flow fit work best.

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Browse every MCA provider side by side, calculate your total cost, then apply for funding today when you are ready to move.