OnDeck Canada Alternative
Canadian Broker — 50+ Options
OnDeck Canada is a US-based direct lender — your application is processed only by them. lendflo is an independent Canadian broker that submits your file to 50+ Canadian and international lenders. One application, more options, fast decision.
OnDeck Canada vs. lendflo — Comparison
| Feature | OnDeck Canada | lendflo |
|---|---|---|
| Platform type | US-based direct lender (Canada) | Canadian broker with 50+ lenders |
| Offers received | 1 (their internal offer) | Multiple offers compared |
| Local Canadian lenders | No (single lender) | Yes — 50+ including local lenders |
| French service | Limited | Full EN/FR |
| Approval timeline | Varies | Fast |
| Borrower fees | None | None |
FAQ — OnDeck Canada vs. lendflo
We’re here to simplify your business financing journey, so you can feel confident every step of the way.
OnDeck Canada is a US-based direct lender operating in Canada — your application is only considered by their product. lendflo is an independent Canadian broker that submits your file to 50+ Canadian and international lenders, increasing your odds and giving you access to the best available offers for your profile.
Yes. lendflo is a Canadian company serving SMBs across Canada. We have access to local Canadian lenders as well as international lenders operating in Canada, allowing us to find the best offers for each profile.
Each lender has its own approval criteria, rates, and terms. By submitting your file to 50+ lenders through lendflo, you maximize your approval odds and can compare offers to choose the one that best fits your business.
Still have questions?
No obligation, just answers.
Quick answer
What should I check before accepting a short-term business loan?
Look at the total amount you will repay, how often payments come out of your account, whether early repayment saves you money, and whether a personal guarantee is required. Comparing at least two offers side by side is the simplest way to catch a costly one.
A short checklist for any short-term loan
- Repayment frequency: daily or weekly payments affect cash flow more than monthly ones
- Total payback: the dollar amount repaid compared with the amount you receive
- Prepayment: whether paying early reduces the cost or changes nothing
- Guarantees and security: what personal or business assets back the loan
- Renewal terms: what happens if you need more funding later
One application, several lenders
Instead of applying to lenders one at a time, lendflo sends your profile to a network of 50+ lenders and returns offers you can compare. A decision typically arrives quickly, and lenders consider credit scores from 500.
What you will need
Recent business bank statements, your business registration and owner identification. Most applicants have 6+ months in business and about $10,000 in monthly revenue.
Canadian Platform — 50+ Lenders
Full EN/FR service. Free for borrowers. fast decision.
Compare My OptionsQuestions to ask any lender or broker before you sign
The same six questions work for a bank, an online lender or a broker.
- How are you paid? — and will I ever pay a fee?
- What is the total I will repay? — not just the interest rate.
- What happens if I repay early? — is there a charge?
- Do I need collateral or a personal guarantee? — read the offer for the clause.
- How soon will funds arrive? — after approval and signing.
- Who will I deal with afterwards? — the lender or the broker.
People also ask
lendflo is a broker, not a lender: it compares offers from several lenders for you and is paid by the lenders, not by you. BDC and banks lend their own money under their own criteria. Compare timelines and total cost on each lender’s own page.
The Business Development Bank of Canada (BDC) is a federal Crown corporation that lends to and advises Canadian entrepreneurs; it is not a chartered bank. Approval times depend on the product, so check bdc.ca for current details. lendflo is a broker, not a lender, and can show you other offers to compare.
A business loan broker does not lend its own money. It compares offers from several lenders for you and is usually paid by the lender when a loan funds. lendflo works this way: free for business owners, paid by lenders. Ask any broker how it is paid, and compare total repayment.
No. lendflo is free for business owners; it is paid by the lender when a loan funds. Whoever arranges a loan, always compare the total amount you will repay on each offer, not only the interest rate.
Terms explained
What is an alternative lender?
An alternative lender is a non-bank company that provides business financing, such as an online lender or a private lender. Alternative lenders typically decide faster and use broader criteria than banks, often looking at revenue and cash flow as well as credit, in exchange for a higher cost.
See in the glossaryWhat is a business loan broker?
A business loan broker is an intermediary that compares offers from several lenders for a business instead of lending its own money. It is usually paid by the lender when a loan funds. lendflo is a broker: it is free for business owners and paid by lenders.
See in the glossaryWhat is the total cost of borrowing?
The total cost of borrowing is everything you pay on top of the amount you borrow, including interest and fees. The annual percentage rate (APR) expresses that cost as a yearly percentage so offers can be compared. Always compare the total amount repaid, not only the interest rate.
See in the glossaryTopic guide
Part of the guide: Government programs and lender alternatives
BDC, the Canada Small Business Financing Program, banks and other lenders — and how a broker compares them.