OnDeck is one of the largest online small business lenders, known for term loans and lines of credit. Here is how MFE compares — honestly.
See If You Qualify with MFE →| Criteria | Merchant Fund Express | OnDeck |
|---|---|---|
| Minimum FICO | 500+ | 625+ |
| Time in Business | 6 months | 1 year |
| Max Funding | $5,000,000 | $250K |
| Decision Speed | 2-4 hours | 1-3 days |
| Direct Funder | Yes | Yes |
| Product Range | Working Capital, LOC, MCA, Equipment, Factoring, RBF | Limited |
| Free Statement Audit | Yes | No |
| Clover POS Partner | Yes (1N1) | No |
| Branding/Web Partner | Yes (Legend Media) | No |
| Bilingual (EN/ES) | Yes | Limited |
Established brand (since 2007), publicly traded, fast online application, term loans up to $250K.
Minimum 625 FICO on most products (higher than MFE), 1+ year time-in-business requirement, no MCA/factoring, rates can run high with daily repayment, no POS or branding partner network.
500+ FICO accepted (vs OnDeck 625+), 6-month time-in-business minimum (vs 1 year), full product menu including MCA, invoice factoring, and equipment financing, plus free merchant statement audit and partner network for POS and branding.
OnDeck is solid for established businesses with 625+ credit needing a straightforward term loan. But if you have a 500-624 FICO, are under a year in business, or need MCA/factoring/equipment options, MFE approves where OnDeck declines.
Merchant Fund Express is a direct funder — not a broker, not a marketplace, not a lead-seller. When you apply with MFE, you deal with one accountable team from application to funding. No getting passed around. No mystery third party. And uniquely in this space, MFE bundles the things a growing business actually needs: capital, Clover POS systems (via 1N1 Merchant Solutions), full branding and web design (via Legend Media & Print), and a free merchant statement audit to make sure you are never overpaying processing fees.
Or call (305) 384-8391 · 500+ FICO accepted · Decision in 2-4 hours