The OnDeck line of credit works like any other revolving line of credit—you have access to a set credit limit and you can draw what you need, when you need it. You only pay interest on the funds you use and funds replenish when you pay them back.
OnDeck lines of credit have a 12-month repayment term which resets after each withdrawal—payments are made automatically on a weekly basis after you make your first draw on the line.
Although OnDeck’s line of credit has no draw fees, it does have a monthly maintenance fee of $20.