An EOFY holiday for your business
No loan repayments until 1 July 20191
Thinking of investing in new equipment or tools? There’s no better time.
Here’s two big reasons to invest in your business today.
Firstly, take advantage of a loan repayment holiday and you will pay nothing for up to two months.
And second, thanks to the Australian Government’s Instant Asset Write-Off, eligible small businesses are able to immediately claim tax deductions on most equipment or other depreciating business assets bought before the EOFY up to the threshold value2.
Don’t miss out on this great opportunity, apply for a business loan with MYOB Loans powered by OnDeck.
Business purchases eligible for the Instant Asset Write Off
Benefits of MYOB Loans powered by OnDeck
- OnDeck are Australian-based loan specialists
- $10+ billion in funding delivered to businesses globally^
- OnDeck has helped over a thousand businesses just like yours
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
OnDeck provides business loans from $10,000 - $250,000 over 6-24 months.
Unsecured 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 2.5% 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.
It’s a simple 10 minute application. All you need are 3 months of
business bank statements. Or call us and we’ll help you over the phone
on 1800 817 596.
Approval will be based on the health of your business cash-flow, as
well as your business credit score
OnDeck offers loan terms of between six months and two years,
depending on your business needs and qualifications.
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
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.
1 This offer to defer
commencement of loan payments is only available to MYOB customers
taking their first OnDeck unsecured Term Loan with the loan
agreement commencing between 29 April 2019 and 30 June 2019. Term
loan applications are subject to strict eligibility criteria. For
full business loan terms and conditions see www.ondeck.com.au. This offer does not apply to
existing OnDeck customers, or to OnDeck’s Secured Equipment Finance
product. Terms of the offer are: loan repayments begin the week
commencing Monday 1st July 2019; and if you choose to accept the
offer, the total loan term will be extended by the period of time
equal to your loan payment deferral. Not valid in conjunction with
any other offer.
2 Please seek advice from your tax accountant regarding your eligibility for the Australian Government’s accelerated depreciation of assets for small business entities, and how this will impact your business. Assets must be bought, used and installed ready for use to be eligible. For further information on the Australian Government’s Instant Asset Write-off Scheme, including up to date information on eligibility and the write-off threshold, see the ATO website at: www.ato.gov.au/business/depreciation-and-capital-expenses-and-all
3 Source NPS responses for MYOB Loans customers March 2019.
*Pre-qualification does not constitute an offer capable of acceptance and is based on your business profile which may include information such as industry, time in business and annual revenue. OnDeck carries out further analysis on the health of your business to determine if you are eligible for a loan and if applicable, to determine the final loan amount.