Is now the right time to invest in your business?
Small businesses are experiencing a lot of change due to the current environment. The good news is that there is a lot of support available for your business such as updates to Government Schemes, and MYOB Loans powered by OnDeck want to help you make the most of these initiatives.
What kind of support is available to your business?
Business financing in 3 easy steps
Looking for additional funds to help with cash flow or to grow your business? MYOB Loans powered by OnDeck
has helped many businesses just like yours with loans from $10,000 to $250,000* over 6 to 24 months. Even better,
there are no set up fees, it's all online and you could secure funds in as little as 1 business day. It’s a great way to get
your business growing sooner.
10 minute online application and 6 months of business bank statements
Know within hours if you’re approved
Receive funds in your account in as fast as 1 business day
Short term loans
$10K - $250K
6 - 24 month terms*
MYOB has partnered with OnDeck to give you
access to a world class lending solution
At MYOB, we’re all about helping businesses succeed. We know accessing finance to grow your business isn’t always easy, that’s why we partnered with OnDeck to bring you MYOB Loans: to help small businesses like yours get ahead.
- OnDeck are Australian based loan specialists
- $10 billion in funding delivered to businesses globally
- 96% of MYOB customers who used OnDeck recalled a great service3
3 Source NPS responses for MYOB Loans customers March 2019
"Great to work with. Fast and efficient. They take the time to understand your business"
Adrienne, MYOB customer April 2019
"The process was transparent, fair and easy"
Scott, MYOB customer February 2019
"In the long term I think MYOB and OnDeck will be the best partner to grow my business’"
Arzal, MYOB customer October 2018
Frequently Asked Questions
OnDeck has partnered with MYOB to help MYOB customers access financing solutions for their businesses. OnDeck is a direct lender of business loans (also called “working capital” loans) to the small business market. OnDeck is not a “peer to peer” lender or crowd funder and does not lend to consumers.
OnDeck Capital Australia Pty Ltd (“OnDeck Australia”) is a subsidiary of US-based On Deck Capital, Inc. MYOB holds a 30% stake in OnDeck Australia and earns a commission on loans referred to OnDeck Australia.
OnDeck provides business loans from $10,000 - $250,000 over 6-24 months.
Business loans designed for inventory, marketing, equipment, cash flow, or any other opportunity for your business to generate a positive return. OnDeck doesn’t take security over your assets, however they do require a personal guarantee.
Rates: OnDeck offers a range of interest rates, which are determined based on your business credit score. The interest rate for your loan could be commensurate with bank lending, or as high as a business credit card, depending on your credit rating.
Fees: OnDeck charges a standard 3.0% origination fee for its lending. There is no application fee.
If you’ve been pre-qualified by MYOB, it was based on criteria that OnDeck has provided. MYOB has not shared any of your personal or business information with OnDeck.
All that’s required is a simple online application and 6 months of bank statements. Applications can be completed over the phone.
All that’s required is a simple online application and 6 months of bank statements – or you can apply over the phone.
Approval will be based on the health of your business cash-flow, as well as your business credit score.
Loans are repaid automatically through a fixed weekly or daily debit to your business account.
Once approved, you could receive funding as soon as the next business day.
MYOB has not shared any of your personal or business information with OnDeck. OnDeck has provided MYOB with its lending criteria to enable MYOB to internally determine your loan pre-qualification.
* Loan amounts and terms are for illustrative purposes only and given the current circumstances of the COVID-19 crisis, the lender may adjust loan amounts, loan terms and terms and conditions in its sole discretion without notice. Eligibility and approval are subject to a standard credit assessment and your business circumstances which may include information such as industry, time in business, estimated revenue and other data. Not all loan amounts, term lengths or rates will be available to all applicants. Fees, terms and conditions apply.
This information is general only and does not constitute tax or legal advice. You should seek tax advice from your accountant or tax adviser or contact the Australia Taxation Office (ATO) to see if your business and purchases are eligible.
* Pre-qualification does not constitute an offer capable of acceptance and recipients of this communication have been identified as potentially eligible customers for an OnDeck loan based on business profile which may include information such as industry, time in business, industry, estimated revenue and other data. OnDeck’s eligibility criteria will be applied should you make an application, including analysis on the health of your business to determine if you are eligible for a loan and if applicable, to determine the final loan pricing, duration and loan amount.