Refinance Guide
How to Refinance an OnDeck Loan
OnDeck provides fast business loans when you need capital quickly. We arrange OnDeck facilities for clients who need speed and accessibility — their minimal documentation requirements and rapid funding make them a strong option for urgent needs. When your business circumstances improve, refinancing to traditional finance can reduce your ongoing costs.
About OnDeck
OnDeck provides unsecured business loans from $10,000 to $250,000 with terms up to 24 months. We work with OnDeck when clients need technology-driven assessment and quick turnaround — often funding within 24 hours. This speed serves a real purpose. As your financial position strengthens, transitioning to bank rates can deliver meaningful savings.
Typical Rates
18% to 40% p.a. (factor rates typically 1.18 to 1.40)
Typical Terms
6 to 24 months, daily repayments
Things to Consider with OnDeck
- Very high effective interest rates
- Daily repayment structure impacts cash flow
- Factor rate pricing obscures true borrowing cost
- Short terms mean high repayment amounts
- Can create debt cycle if renewed repeatedly
Your Refinance Options
Bank Business Loan
Traditional bank term loans offer rates from 7-12% p.a. with monthly repayments, dramatically reducing your interest cost if you qualify.
Secured Commercial Loan
Property-secured loans can reduce rates to 6-9% p.a. This is often the best path if you have available equity in residential or commercial property.
Business Line of Credit
A revolving credit facility provides ongoing access to funds at lower rates (typically 8-15% p.a.), with interest only on drawn amounts.
Equipment or Asset Finance
If the OnDeck funds were used for equipment, refinancing to asset finance secures better rates against the equipment itself.
Considering Your OnDeck Options?
Whether you need additional capital or want to explore refinancing, we can help. Get a free assessment of your options.
How to Refinance OnDeck
Obtain your current payout figure from OnDeck
Compile financials — tax returns, BAS, bank statements, aged receivables
We review your situation and identify refinance pathways
Submit to appropriate lenders based on your profile
New facility settles and pays out OnDeck balance
Transition to improved repayment structure
Frequently Asked Questions
Other Lender Refinance Guides
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