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OnDeck offers a short-term loan and line of credit, available to fair or good credit borrowers with a personal credit score of 625 or higher. But OnDeck’s small business loans offer lower loan sizes than is typical.

The business line of credit goes up to $100,000, while many credit lines go up to at least $250,000. But with OnDeck, your loan is automatically reset to a new term with each new draw of funds. Since the original loan is folded into the new loan, you’ll need to account for a higher weekly repayment. Extending terms from the original loan also leads to paying more in interest in the long run.

The short-term loan goes up to $250,000, while many term loans reach $500,000 or higher. If eligible, you could also pay off the loan early without penalty. But if you’re not eligible for the prepayment benefit, you’ll be on the hook to pay 75 percent of the original loan’s interest. That could end up being a higher prepayment penalty than other short-term loans available.