OnDeck

Misrepresentation on website. Their interest rate are at least 45% to 99%. On their website only advertise 10%.

I received a letter from OnDeck stating that my application was declined. But I never applied for anything!

Not only did I not apply, it was from the condo association that I am a board member of. Clearly there was a fraudulent attempt to steal my identity and obtain funds. I phoned them to inquire and they would not assist. I asked for a copy of the application I supposedly completed and they refused.

I indicated that I wished to take this to local law enforcement and they still declined to help in ANY way. What are they hiding?

Why would they not want law enforcement involved in an attempt to steal their funds using someone else's identity? I've written to the regulators in Virginia, we'll see what happens.

PLEASE DO NOT USE THIS LOAN SHARK COMPANY. THE ACT LIKE THEY WORK WITH YOU AND BUILD RELATIONS, CANT BE FAR FROM THE TRUTH.

I contacted the company about a small business loan after finding them on a website search (should have gone with Kabbage). I have over a 720 personal FICO score and established business credit. The short story: the rep asked me for more, and then more, and then still more. I understand verification; however, there always seemed to be a reason - something else that underwriting needed.

Finally after pulling old tax records, personal records (even though it is not supposed to be tied to your personal credit) downloading company bank statements and more, they kept asking me to prove "ownership" of my company and the rep kept reinforcing "we are a Publicly traded company, we have to dot our I's and cross out T's". Ok. I get it. But I have given you my Articles of Organization, EIN filing with the IRS, and all the tax filings I have as far back as 10 years. Then, because the K1 was sent in an 'editable' .pdf, they couldn't accept it. ?????

I am a licensed CPA, I complete and file my own taxes. This company is a BIG waste of time and will only serve to frustrate you. There are so many better options out there. My suggestion....move on.

Will

I was in need of capital for equipment purchase. I could have paid cash but didn't want to spend all my liquid assets.

I found my way to "On Deck" by seeing a commercial and noticed it was owned by a Shark on the Shark Tank show. After hearing how she struggled to start her own business I was sure that this company was in the small business owners corner. Mistake #1 nothing could be further then the truth. The person who sold me this loan told me after I voiced my concern that they were essentially charging me almost 30% interest.

That I shouldn't worry because after 6 months of "good" payment history they would convert my loan into a line of credit with a much reduced interest rate, Mistake #2. When I asked for this conversation I was told they couldn't extend that service to me. When they explained my terms they conveniently skipped that even if I paid the loan off early which is what I'm going to do, they still get 75% of the interest they would have gotten if I kept the loan for its duration(12 months). These people are a piece of work!!

I recommend to stay far away from this company!!!!! BUYER BEWARE!!!!!!!!

ON Deck Froze my credit account during a time of emergency, Hurricane IRMA devastated parts of South Florida where my small service company is located. I have lost 2 weeks of income, just a drop in the bucket compared to the hundreds of thousands still without power or communications.

On Deck blocked everybody in Texas and Florida. I was finally able to call On Deck who was just RUDE. They asked a bunch of nonsense questions and said they would review the facts and let me know later today. The funny part is We don’t need the funds from On Deck.

WE are up and running and we counted on On Deck credit line to help if needed.

As of now I cannot draw funds from my On Deck Credit Line during a declared state of emergency, people are suffering and On Deck is helping nobody. On Deck should be ashamed and I can only hope that they are soon defunct.

After receiving 9 loans, 8 previous one fully paid off; now Ondeck decided I no longer qualify. I was told that my personal credit had no influence on disbursing loans and now come to find out that it does.

I have been in business with a clean record for 32 years, my personal credit took a hit in 2008 and I have been rebuilding it; mind you it is a completely separate issue with no bearing on my business credit.

I'm happy that my relationship with Ondeck will soon be over, the final loan is almost paid off. Their change of rules is not acceptable, obviously having an excellent track record of repayment means nothing to them.

Ondeck capital are a pushy mechant funding company that constantly rings all hours of the day and night, they will not take no for a answer and constantly ring my staff saying that they have a urgent matter to speak with the owner about and when they cannot get to me they are rude to my staff, we have logged there phone number and they also constantly ring and not say anything when we answer. Please be warned these guys are the *** of the industry and should not be dealt with. We have noticed also that they use mulitpul phone numbers to cover their information and most of the time comes up as a motor dealership on caller information.

I told On Deck that I was not interested in their services. This set them in motion to call my business cell phone 4-5 times a day along with constant letters in the mail.

This has been going on for 6 months . The number has been on the no call list since 2014, which is ignored by On Deck. Legitimate businesses do not ignore the No Call list. A business that needs a loan seeks them out, these practices don't lead to a good experience with a positive ending.

Do not contact this business .. Do not give them your bank account information . Stay as far away from this as possible before you are scammed and lose the business you worked so hard to create.

These companies pray on people with big dreams that work hard . They are unable to do these things for themselves so they want to destroy others out of spite and greed.

We were contacted by On Deck a couple of years ago and took advantage of getting working capital while waiting for our slow customers to pay. The Loan Rate seemed a little steep, but I was able to pass the costs on to my customers.

Then they offer me a generous line of credit which really helped our buying power with our vendors. After about 8 months of no missed payments they suddenly sold my account after we had to switch bank accounts due to identity theft.

No wonder their stock price is in the tank, their business model is horrible, and they bolt at any trouble. If you borrow money from them, make sure it is small amounts and easily repaid, because if they hold a not too long they will sell it on you and then you have to deal with debt collectors.

I am a hard working, small business owner. I did not even need their loan but they were promising cash by Monday on Friday, which was the bait. :-(

I thought I got a great deal because I negotiated with them that at the end of 6 months, they will reduce the interest rate from 19% to 9%. Unfortunately, I did not have their commitment in writing. Now they bluntly deny they ever made the commitment.

The representative I was talking to told me clearly that, she was a renewal rep and she did not make the commitment, so she cannot honor it. She is demanding a proof and I don't have a proof.

This is very unethical and for small businesses this is a big blow. Never fall prey to Ondeck capital or similar companies. You are taking your hard money and giving it to these sharks.

This predatory lender will gladly take your hard earned money without any concern for the hardship it causes you - the small business owner. They charge an "origination Fee" that is an additional scam, they also take your hard earned money and apply all payments toward their 69% interest they will charge you!

What that means is, when you borrow money from them, you pay them back for months on end and then you still owe the original amount or more that your borrowed. As example: a $25K loan, $695 origination fee, $107.94 a day, taken from your bank account Monday - Friday for 315 days. They take over $9K in interest and that is taken up front.

Even if you could pay off early, there is ZERO advantage to doing that because the entire interest amount has already been collected and you still owe the amount you borrowed after months of paying. Run away - Fast!

These predatory " lenders"suck ***. They send me an offer almost every week.

First time it was for $375,000 then it would go down to 250k then to 500k.

But it says in their leaflet you have to have 100k in income before you truly qualify. If I had 7-100k in the bank I wouldn't need their loan.

If you think paycheck advance companies are a good deal for the hourly worker, then you should be real happy with On Deck for your small business. They are just blazing the latest trend in predatory lending focusing on the desperate small business owners.

They have been hammering us with junk mail, so we thought, okay, why not give it a try. Now that we have gone through multi-hoop, multi-day process, I decided to do some research on them. Not much of what they claim about their process is true. Save some money and take a loan out on your highest interest credit card.

They will at least trust you to make monthly payments. Don't give them any of your hard earned money and soon these types of companies will dry up and go away.

I might suggest a more appropriate name: OnDick Crapital