Fundbox is the easier lender to get into: $30,000+ in annual revenue and 3+ months in business, with fees starting at 4.66% on a 12-week plan (roughly a 36.8% APR equivalent). OnDeck asks for more (a 625 FICO score, 1 year in business and $100,000 in revenue) but lends for longer: term loans of up to $400,000 over up to 24 months, and lines of credit repaid over 12 to 24 months. Its published average APRs are 53.2% for term loans and 59.8% for lines. Choose Fundbox for short, small gaps if you’re a newer business; choose OnDeck if you need longer to repay or a bigger lump sum.
Our full OnDeck review and Fundbox review cover each lender in depth, and all our head-to-heads are in the lender reviews hub. Figures below come from each lender’s own site unless marked.
OnDeck vs Fundbox at a glance
Figures checked on September 21, 2026. Pricing is shown as each lender quotes it.
| OnDeck | Fundbox | |
|---|---|---|
| Products | Term loans; lines of credit | Line of credit and term loan options |
| Amounts | Term loans $5,000 to $400,000; lines $6,000 to $200,000 | “Up to $250,000 in funding,” according to Fundbox |
| Repayment | Term loans up to 24 months, daily or weekly; lines over 12, 18 or 24 months, weekly or monthly | 12-week plan quoted by Fundbox |
| Pricing as quoted | Average APR 53.2% (term) and 59.8% (line), loans originated in the half-year ending June 30, 2026; origination fee 0% to 4% | Fees start at 4.66% for a 12-week plan and vary by applicant (about 36.8% APR equivalent) |
| Minimum credit score | 625 personal FICO | Not published by Fundbox (third-party reviews report 600) |
| Minimum revenue | $100,000 a year | $30,000+ a year |
| Minimum time in business | 1 year | 3+ months, with 3+ months of business checking transactions |
| Credit check | Soft check to determine eligibility | Soft pull to apply; hard pull at first draw |
| Early payoff | Remaining interest fully waived, or 75% of remaining interest owed, depending on the loan’s prepayment option | Remaining fees waived; no prepayment penalty |
| Speed | Same day if you finish before 10:30 a.m. ET on a weekday; otherwise 2 to 3 business days | Within 2 business days |
| Lender of record | OnDeck or Celtic Bank; OnDeck is owned by Enova | First Electronic Bank or Lead Bank |
Who is behind each lender
OnDeck is a direct small-business lender and has been owned by Enova International since Enova completed its acquisition on October 13, 2020 (Enova). Its loans are issued by “a member of the OnDeck family of companies or by Celtic Bank,” and your agreement names the lender before you sign (OnDeck line of credit).
Fundbox is a fintech platform that works with bank partners. In its own words, it “makes capital available to businesses through business loans and lines of credit originated by First Electronic Bank or Lead Bank” (Fundbox FAQ). Fundbox also embeds its credit in business software, so you may see an offer inside a tool you already use. Either way, the bank partner named in your agreement is the lender of record.
Worked example: $75,000 from each
This is one of the few pairs where both lenders publish enough to cost the same amount, although on different bases, so read the caveats. OnDeck’s sample disclosure is a $75,000, 12-month term loan: $73,125 disbursed after a $1,875 (2.5%) origination fee, 52 weekly payments of $1,889.42, total repayment of $98,249.84, total cost of $25,125 and an APR of 61.34% (OnDeck loan comparison tool).
At Fundbox’s starting fee of 4.66% on a 12-week plan (Fundbox Help Center), a $75,000 draw costs $3,495, repaid in 12 weekly payments of $6,541.25. That schedule works out to an APR equivalent of about 36.8%.
| $75,000 | OnDeck (sample disclosure) | Fundbox (starting fee) |
|---|---|---|
| Term | 12 months | 12 weeks |
| Payment | $1,889.42 weekly | $6,541.25 weekly |
| Dollar cost | $25,125 | $3,495 |
| APR | 61.34% | About 36.8% (APR equivalent) |
What this shows: Fundbox’s dollar cost is far lower here because the money is outstanding for 12 weeks rather than a year, and its APR equivalent is lower too. But its weekly payment is more than three times OnDeck’s. Two caveats. Fundbox’s 4.66% is a starting fee and Fundbox says fees vary by applicant, so your fee may be higher. OnDeck’s example is one illustrative loan, and its actual average APR on term loans was 53.2%. If you can’t repay $75,000 in 12 weeks, the Fundbox figure doesn’t apply to you. Our short-term vs long-term loans guide explains the trade-off.
Who qualifies
OnDeck
- 625 personal FICO, 1 year in business, $100,000 annual revenue and a business checking account (OnDeck requirements).
- A 675+ score, 2+ years in business, $250,000+ revenue and a $3,000+ average monthly balance help.
- Not available in North Dakota. The $400,000 maximum is limited to select customers.
Fundbox
- $30,000+ annual revenue, 3+ months in business, and a business checking account with 3+ months of transactions (Fundbox).
- No minimum credit score on Fundbox’s main pages. Third-party reviews, including NerdWallet, report 600.
Choose OnDeck if…
- You need more than a few months to repay: up to 24 months on a term loan or line.
- You want a lump sum of up to $400,000.
- You’d prefer monthly payments, which are available on OnDeck’s line of credit.
- You want to benchmark offers against a published average APR.
Choose Fundbox if…
- You’ve been trading for under a year or earn under $100,000 a year.
- You need to bridge a short gap, such as a slow-paying invoice, and can repay in about 12 weeks.
- You want to apply with a soft pull and pay no penalty for early repayment.
- You’re in North Dakota, where OnDeck doesn’t lend.
Pitfalls to watch
- Payment size vs cost. Short plans keep the dollar cost down but make each payment large. Plan for the weekly amount, not just the fee.
- Daily debits. OnDeck term loans can be repaid daily. Check which schedule your offer uses.
- Starting vs average. Fundbox’s 4.66% is a floor; OnDeck’s 53.2% is an average. You’re not comparing like with like until you have real offers.
- Hard pull at first draw. Fundbox’s soft-pull application turns into a hard inquiry when you draw.
FAQ
Is Fundbox cheaper than OnDeck?
On published figures, Fundbox’s starting fee is about a 36.8% APR equivalent, compared with OnDeck’s 53.2% average APR on term loans. But Fundbox’s fee varies by applicant and its terms are much shorter, so compare your actual offers.
Which has a lower credit score requirement?
OnDeck publishes 625. Fundbox doesn’t publish a minimum on its main pages; third-party reviews report 600, so confirm with Fundbox.
How much can I borrow from each?
OnDeck: $5,000 to $400,000 on term loans and $6,000 to $200,000 on lines. Fundbox: up to $250,000.
Can I pay off early?
Yes, with both. Fundbox waives remaining fees and charges no prepayment penalty. OnDeck either waives all remaining interest or charges 75% of it, depending on your loan’s prepayment option.
Next step
If you’re weighing a short line against a longer loan, SMB Compass can help you compare offers from the lenders we work with. Start with short-term business loans, or read OnDeck vs Bluevine and Fundbox alternatives.
Sources
- OnDeck: Loan eligibility requirements
- OnDeck: Business term loans
- OnDeck: Business line of credit
- OnDeck: FAQs
- OnDeck: Loan comparison tool (sample disclosures)
- Enova: Enova Completes Acquisition of OnDeck (Oct 13, 2020)
- Fundbox: Homepage
- Fundbox: FAQ
- Fundbox Help Center: How much does it cost to use Fundbox?
- Fundbox: How it works
- NerdWallet: Fundbox review (updated Apr 14, 2026)
About this page. Written by Ezra Cabrera, Content Team Lead at SMB Compass. Figures were checked against each lender’s own website on September 21, 2026; lenders change their terms, so confirm current terms before you apply, and let us know if you spot a figure that has changed. SMB Compass is a business financing broker: we don’t lend our own money, and we are paid by the lenders we place loans with. This page is general information, not financial, legal or tax advice.