OnDeck Alternatives

This guide lists five UK focused alternatives to OnDeck, so buyers can compare speed, eligibility, products, and pricing before applying.

Quick Compare:

1. Funding Circle

Funding Circle Funding Circle primarily offers business loans for UK firms. It specialises in fast, flexible unsecured or secured funding with a range of collateral options and terms. The platform is suitable for franchise buyers or those seeking quick decision making.

Loan and pricing details

Funding range note: from 10,000 to 750,000 typically

Speed: Decisions in as little as 1 hour for simple cases

Interest rate notes: Interest rates start from 3.9% per annum, dependant on credit profile.

Eligibility

Personal guarantee: Personal guarantees may be required for some loan types.

Homeowner advantage: Being a homeowner may assist with securing lower rates.

Services and sectors

• Products: term_loan, secured_loan, unsecured_loan, asset_finance
• Industries: Retail, Manufacturing, Professional Services

Best for

• Fast funding needs
• Unsecured loan options
• Established small and medium businesses

Pros

• Fast decision making
• No early repayment fees
• Wide range of loan options

Cons

• Personal guarantee may be needed
• Higher rates for higher risk profiles

Sources: https://www.fundingcircle.com/uk/ https://www.nerdwallet.com/uk/business-loans/funding-circle-business-loan-review/

2. Capify

Capify Capify offers fast, short-term funding options with flexible repayment terms. It mainly focuses on supporting UK SMEs, especially those seeking quick cash flow solutions via secured or unsecured loans that can be brokered for ease of access.

Loan and pricing details

Funding range note: from 5,000 to 1,000,000 typically

Speed: Same-day funding available for qualified applicants

Interest rate notes: Rates are higher due to short-term nature, typically starting at 12%.

Eligibility

Personal guarantee: Often required depending on business credit status.

Homeowner advantage: Home ownership could help in obtaining better terms.

Services and sectors

• Products: term_loan, short_term_loan, merchant_cash_advance
• Industries: Hospitality, Retail, Services

Best for

• Short-term funding
• Businesses needing quick cash flow solutions
• Loans up to 1 million GBP

Pros

• Very fast funding
• Significant funding amounts
• Flexible use of funds

Cons

• Higher interest rates
• Requires good recent trading history

Sources: https://www.capify.co.uk/ https://www.iwoca.co.uk/lenders/capify-business-loans

3. LendingCrowd

LendingCrowd LendingCrowd connects investors directly with UK SME borrowers, offering competitive rates and flexible terms. It specialises in connecting businesses with investor funding, often supporting growth or refinancing needs through brokered access to a peer-to-peer platform.

Loan and pricing details

Funding range note: from 75,000 to 500,000 typically

Speed: Funding typically within a week of application

Interest rate notes: Competitive investor-driven rates starting from 6% depending on credit profile.

Eligibility

Personal guarantee: Personal guarantees might be required, depending on credit assessment.

Homeowner advantage: Strong credit standing preferred over home ownership status.

Services and sectors

• Products: term_loan, investment_loans
• Industries: Technology, Manufacturing, Health services

Best for

• Investment-backed loans
• Businesses looking for transparent rates
• Those preferring community-funded options

Pros

• Competitive rates
• Transparent fee structure
• Strong investor interest

Cons

• Longer processing times
• Restricted to businesses with good credit

Sources: https://www.lendingcrowd.com/ https://www.lendingcrowd.com/business-loans

4. Iwoca

Iwoca Iwoca offers quick access to small, short-term loans suitable for immediate cash flow needs. It provides fast decisions and flexible repayment options, often supporting SMEs with rapid funding for growth or working capital.

Loan and pricing details

Funding range note: from 1,000 to 1,000,000 typically

Speed: Approval and funding in as little as 24 hours

Interest rate notes: Rates start from 1.5% per month, catering to short-term needs.

Eligibility

Personal guarantee: Typically required for larger amounts.

Homeowner advantage: No significant advantage, focus on business performance.

Services and sectors

• Products: revolving_credit, short_term_loan
• Industries: Retail, E-commerce, Professional services

Best for

• Quick cash flow
• Small funding amounts
• Technology-driven solutions

Pros

• Fast disbursement
• Flexible credit terms
• No early repayment fees

Cons

• Higher monthly interest
• Limited to smaller loans

Sources: https://www.iwoca.co.uk/ https://www.nerdwallet.com/uk/business-loans/iwoca-business-loan-review/

5. Fleximize

Fleximize Fleximize offers flexible business loans with customised repayment terms. It supports growth through top-up options and flexible borrowing structures. The service mainly caters to UK SMEs seeking adaptable funding solutions across various sectors.

Loan and pricing details

Funding range note: from 5,000 to 500,000 typically

Speed: Funding in 24 hours for qualifying businesses

Interest rate notes: Interest rates range between 8% to 24%, tailored to credit risk.

Eligibility

Personal guarantee: Can be reduced or waived for strong companies.

Homeowner advantage: Helpful but not necessary, focus on business growth potential.

Services and sectors

• Products: term_loan, unsecured_loan, flexiloan
• Industries: Technology, Retail, Healthcare

Best for

• Flexible repayment terms
• Top-up loan options
• Businesses needing finance planning features

Pros

• Highly customizable loans
• Repayment holidays
• Good customer support

Cons

• Potentially higher rates
• Strict eligibility for larger loans

Sources: https://fleximize.com/business-loans https://fleximize.com/

Final notes

When comparing providers, match loan size, timeline, and sector fit first, then confirm current rates and fees with the finance provider. If one option declines your application, a broker or multi lender panel may still place the deal.

Matching the right provider depends on your specific needs. Banks often offer lower rates but require more documentation and security. Brokers can connect you quickly with specialised lenders. For fast, flexible options, alternative lenders or peer-to-peer platforms are suitable. For detailed comparisons, visit Funding Agent to explore your finance choices.