OnDeck vs. Kabbage: Compared by an Experienced Loan Officer

ondeck vs kabbage

Many small businesses wonder which is better, OnDeck vs. Kabbage. We are here to help you make that important loan decision. We’ve laid out comparison tables for you that give the key differences between OnDeck and Kabbage, including offerings, fees, and requirements.

Read on to learn more about these two popular lending platforms to decide which is right for your small business. 

What Is OnDeck?

OnDeck Capital, Inc. is a global small business lending company owned by Energy Intermediate, Inc. It was founded in 2006 and has since become one of the leading online small business loan providers. The company provides transparent pricing, loyal benefits, and more and has delivered more than $13 million in funding to businesses globally.  

OnDeck is a trusted funded source by many small businesses and has an excellent reputation of 4.8 out of 5 stars on TrustPilot. It also has an A+ rating with the Better Business Bureau.  

What Is Kabbage?

Kabbage, Inc. is an online financial technology company owned by American Express. Kabbage offers funding to small businesses and consumers through an automated platform. Its financial solutions are designed to be flexible for small businesses. 

Its lines of credit for borrowers come with straightforward monthly fees and don’t have origination fees. Kabbage has a slightly lower rating on TrustPilot at 3.8 out of 5 stars.

What Is LendThrive?

LendThrive is an online lender that specializes in fixed rate business loans for small businesses. It is a sister company of AVANA Capital and has a Better Business Bureau rating of A+. Its mission is to help small businesses in the U.S. grow and thrive. The company offers flexible terms and a great rewards program for borrowers.

OnDeck vs. Kabbage vs. LendThrive: Key Differences

Let’s dive into the differences between Kabbage vs. OnDeck vs. LendThrive. We will compare each company’s offerings, fees, and requirements below.

OnDeck vs. Kabbage vs. LendThrive Offerings

OnDeck, Kabbage, and LendThrive differ in their offerings. Here is a comparison table for the companies. 

OnDeck Offerings Kabbage Offerings LendThrive Offerings
  • Short Term Loans
    • $5K to $250K loan amounts
    • Repayment terms up to 24 months
    • Same day funding
    • Loyalty benefits
    • Helps build business credit
    • Fixed payments
    • Transparent pricing
    • Prepayment benefits
  • Lines of Credit
    • Revolving lines from $6K to $100K
    • 12-month repayment term, resets after each withdrawal
    • No prepayment penalties
    • Instant funding
    • Only pay interest on what you use
  • Lines of Credit
    • $5K to $150K
    • Cash flow management tools
    • No prepayment penalties
    • Pay a monthly fee only on months you end with outstanding balances
    • No origination fees or annual fees
    • Quick approval process

 

  • Fixed Rate Business Loans
    • $25K to $150K loan amounts
    • No prepayment penalties
    • Transparent pricing
    • Quick approval process
    • Flexible terms
    • Low interest rates
    • Declining interest payments

 

 

 

 

 

 

 

OnDeck vs. Kabbage vs. LendThrive Fees

Now let’s look at Kabbage vs. OnDeck vs. LendThrive in terms of fee structures.

OnDeck Fees Kabbage Fees LendThrive Fees
  • Short Term Loans
    • No prepayment fees
    • Interest rates start at 35% APR
    • One-time origination fee
    • Current OnDeck customers can get a lower or 0% origination fee on their next loan
  • Lines of Credit
    • $20 monthly maintenance fee
    • No prepayment fees
    • Interest rates start at 35.9% APR
  • Line of Credit
    • No application fees
    • No prepayment fees
    • Incur monthly loan fee on outstanding balances
      • Each month borrowers pay back a portion of the loan principal plus the corresponding monthly fee

 

 

 

  • Fixed Rate Business Loan
    • No application fees
    • No prepayment fees
    • Declining interest payments

 

 

 

 

 

 

 

OnDeck vs. Kabbage vs. LendThrive Requirements

Finally, we will take a closer look at the funding eligibility requirements for Kabbage vs. OnDeck vs. LendThrive.

OnDeck Requirements Kabbage Requirements LendThrive Requirements
  • Short Term Loans and Lines of Credit
    • Time in business: 1-year minimum
    • Personal credit score: 600
    • Business annual gross revenue: $100K
    • Must have a business checking account
    • Some restricted industries

 

 

  • Lines of Credit
    • Must have previously been approved for Kabbage funding OR
    • Time in business: 1-year minimum
    • Must have a business checking account
    • Must have an American Express business card relationship with a minimum of 2 months account history

 

  • Fixed Rate Business Loans
    • Minimum revenue/sales of $10K per month
    • Time in business: 1-year minimum
    • Majority ownership
    • Active bank account
    • Minimum FICO score: 675
    • Operating profitability

 

 

 

 

Now you know the major differences between OnDeck vs. Kabbage vs. LendThrive. We hope this comparison helps you make your loan decision. If you are looking for a small business loan, there are plenty of options available. 

Both Kabbage and OnDeck are viable options for small business loans, however, LendThrive is another excellent option to consider. Read on to learn more about LendThrive’s offerings for small business owners.

Apply for a Loan from LendThrive

LendThrive is an online lender that specializes in fixed rate business loans. Our fixed rate business loans come with low interest rates, flexible repayment terms, and can range from $25K to $150K. We even reward borrowers with lower interest rates through our Rate Reduction Rewards program. 

The Rate Reduction Rewards program is LendThrive’s way of saying thank you to borrowers who make consistent, on-time payments. We lower their interest rates incrementally during the term of their loans. You can use our loan calculator to estimate the loan cost and monthly payments based on your needs.

You can be approved for a business loan in as little as 24 hours and have access to funds within one business day. We want to see your small business grow — apply today or contact us for more information!

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