OnDeck vs BlueVine: A Comparison

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  2. OnDeck vs BlueVine: A Comparison

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ondeck vs bluevine

Short-term business financing options can be ideal under some circumstances. For fast business financing, OnDeck and BlueVine are some of the strongest options. These two lenders offer similar products with similar requirements. This calls for an OnDeck vs BlueVine comparison.

If you look at OnDeck and BlueVine very briefly, it’s hard to tell their offers apart. So, let’s look into the little details that separate these two fast business lenders.

A Glance At The Candidates


OnDeck is an alternative business lender that provides reasonable rates. Their business loan products are simple: an installment loan or a line of credit.

OnDeck is known for its speed and reasonable rates (for good-credit borrowers). But they still accept many borrowers with bad credit. But their strongest suits are these factors combined with transparency and a lack of sneaky fees.


BlueVine provides business:

  • Term loans
  • Lines of credit
  • Invoice factoring

At a glance, it’s apparent that BlueVine provides smaller sums than OnDeck does. But apart from that, they are similar on the surface.

Let’s look at the numbers and see how they compare…

OnDeck vs BlueVine: Which Business Lender Is Cheaper?

OnDeck provides anywhere from $5,000 to $500,000 with their business loans. Their APRs vary widely, ranging from 9% to almost 99%. The weighted average APRs of an OnDeck loan are:

  • 25.6% for a term loan
  • 32.8% for a line of credit

Higher credit scores and stable revenues will get you access to better rates.

BlueVine isn’t as cheap as OnDeck. While their maximum costs are similar, the minimum APR for a BlueVine loan is 14%. This is still a decent rate for the speed and convenience they offer. But it’s not as good a minimum APR as the one OnDeck offers.

OnDeck wins when it comes to cost.

OnDeck vs BlueVine: Which Business Lender Is More Accessible?

The minimum requirements for an OnDeck business loan are:

  • Annual revenue of $100,000
  • At least one year in business
  • A credit score of 600

The minimum requirements for a BlueVine business loan are:

  • Monthly revenue of $10,000 ($120,000 annually)
  • At least 3 months in business
  • A credit score of 600

Overall, both OnDeck and BlueVine have very similar requirements. If you have a very young but profitable business, BlueVine will be able to give you a loan. But OnDeck has lower revenue requirements.

In the end, it’s hard to say that one of these lenders is more accessible than the other. Both require typical qualifications for an alternative business loan. We can call this round a draw.

OnDeck vs BlueVine: Which Business Lender Is Faster?

OnDeck can approve a loan in about 15 minutes after you contact them online or by phone. After you’re approved, you will receive your funds within 24 hours on a normal business day. This is a fast turnaround time that suits business owners who need funding in a rush.

BlueVine’s approval times vary widely by loan type:

  • Term loans: about 10 minutes
  • Line of credit: about 12 hours
  • Invoice factoring: unpredictable

After you’re approved, you will typically receive your funds on the next business day. In some cases, you will receive the funding on the same day you’re approved on.

When it comes to speed, we have another tie. Both OnDeck and BlueVine are fast lenders. They can both handle applications quickly, making them good options in a hurry.

OnDeck vs BlueVine: Who Offers Better Customer Service?

OnDeck can be reached for customer support via phone, email, or live chat. They can also be contacted via their Twitter and Facebook pages. They typically react promptly and are regarded as helpful by customers. Their customer service reps are friendly and professional.

BlueVine offers multiple customer support channels. Phone support is available from Monday to Saturday. You can also receive email support or message them via their Twitter and Facebook pages. Response times are fast and customers are satisfied with the support they get. If you have only a minor issue, BlueVine’s FAQs section is detailed and answers most basic questions you may have.

Tallying The Scores

OnDeck and BlueVine have more in common with each other than they seem to with other business lenders. OnDeck can usually provide better rates, but they’re not much faster or more accessible than BlueVine.

If you have fair or better credit and need a fast loan, either of these lenders would be a good choice for you.

Not sure where to go for a business loan? Read these quick & helpful guides:
Check out our preferred marketplace lenders.

Lender Minimum Revenue Time in Business Minimum Credit Next Steps
$100K/year 1 year 600+ See if you qualify
$10,000/mo 3 mo. n/a See if you qualify
$10,000/mo 3 mo. n/a See if you qualify
$75,000/yr 24 mo. 620+ Request Intro
Varies Varies 560+ See if you qualify

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