Compare American Express vs. OnDeck Small Business Loans
Key Facts
- Best for companies 1+ years in business and at least an average of $3,000/month revenue
- Business line of credit from $2,000 to $250,000
- 6-, 12- or 18-month loans as follows:
- 2-9% for 6-month loans, 2-9% for 6-month loans, 7.5-18% for 12-month loans, 15.75-27% for 18-month loans
- Apply online and get a decision in real-time
- No penalty for early repayment
- Minimum credit score of 640 required
Applying won’t affect credit score
-
Loan Amounts: $5,000 to $250,000
-
Average Yearly Revenue requirements:$100,000
-
Minimum Credit Score: 625 FICO
-
Minimum Time in Business to apply: 1 year
OVERALL RATINGS
American Express | OnDeck | |
---|---|---|
Loan Options | 4.0/5 | 4.5/5 |
Application Requirements | 5.0/5 | 4.5/5 |
Average Rates & Fees | 4.5/5 | 4.5/5 |
Final Verdict
American Express® Business Line of Credit (formerly Kabbage) and OnDeck Small Business Loans are very close in quality and have the same overall rating. That said, American Express scores better than OnDeck across: Consumer Education, and Application Requirements. Whereas, OnDeck scores better on Loan Options. Both companies score similarly on Average Rates & Fees.