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Here's exactly how Spartan Capital stacks up against OnDeck — and why thousands of business owners choose us instead.
| Feature | Spartan Capital | OnDeck |
|---|---|---|
| Direct Lender | ✓ Yes | ✗ No |
| Broker / Marketplace Fees | ✓ None | ✗ Yes |
| Funding Speed | ✓ 24 Hours | ✗ 3-5 Days |
| Maximum Funding | ✓ Up to $500,000 | ✗ $400,000 term loan max |
| Minimum Credit Score | ✓ 550+ | ✗ 600+ |
| Decision Maker | ✓ Us — Directly | ✗ Third Parties |
| UCC Blanket Lien | ✓ No blanket lien | ✗ Files UCC-1 on all assets |
| Origination Fee | ✓ Zero | ✗ 2.4%–4% deducted upfront |
OnDeck deducts their origination fee before you receive your money. On a $100,000 loan with 4% fee, you only get $96,000 but owe interest on the full $100,000. Spartan Capital charges zero origination fees.
OnDeck files a UCC-1 blanket lien on all your business assets when you borrow. This means they can claim your equipment, inventory, and receivables if you default. Spartan Capital does not file blanket liens on your assets.
OnDeck's average APR is 57.9% according to their own disclosures, and can reach 99%. Independent reviews report some borrowers paying effective rates above 50% even after on-time payments with no refinancing option. Compare before you sign.
Term loans are made by licensed lending partners and are subject to approval, underwriting, and verification. Funding amounts, rates, and terms vary by qualification, business profile, and state eligibility. This is not a commitment to lend.
Term Loans are made by Itria Ventures LLC or Cross River Bank, Member FDIC. This is not a deposit product. California residents: Itria Ventures LLC is licensed by the Department of Financial Protection and Innovation. Loans are made or arranged pursuant to California Financing Law License # 60DBO-35839
