Grow your business with MYOB Loans Powered by OnDeck*
Fast, flexible and personalised loans
How it works
"On both occasions of funding I was treated as a person, as a business owner and provided with great customer service, quick funding and was understood."
Elyston Hayden, Owner, Elyston Hayden Hair
"OnDeck makes me feel comfortable. The manager is always in contact with me and checking how things are going. I would recommend it to anybody who wants quick funds and wants some support for his business. "
Tony Harfouche, A1 Finishes
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 - $150,000 over 6-24 months.
Working capital designed for inventory, marketing, equipment, cash
flow, or any other opportunity for your business to generate a
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.
All that’s required is a simple online application and 3 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
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.
In downloading this eBook, you’re also
consenting to receive communication from MYOB and OnDeck to help
your business including special offers and product tips. If you
don’t want to receive any emails or telephone calls, you can
unsubscribe at any time.
*Loans are issued by On Deck Capital
Australia Pty Ltd ABN 28 603 753 215. Loans subject to lender
**Information refers to the operations of the OnDeck Group, including On Deck Capital, Inc. and its subsidiaries.