OnDeck is a business loan provider with fixed amounts, fixed terms, regular repayments and personal guarantees. FundTap is invoice finance: on-demand access to capital you have already earned, repaid automatically when your customer pays. Loans suit one-off investments. Invoice finance suits ongoing working capital without taking on new debt.
Last reviewed 11 August 2026
OnDeck provides unsecured business loans to established Australian businesses with a trading history. FundTap is on-demand invoice finance for Australian and New Zealand small businesses. Here is a straightforward comparison so you can decide what suits your situation.
At a glance
| Feature | FundTap | OnDeck |
|---|---|---|
| What it is | On-demand invoice finance | Unsecured business loan |
| Cost | 4–6% per invoice (no setup fees, no monthly subscription fees, no early-repayment fees) | Interest rate over a fixed loan term |
| Repayment | Automatic when your customer pays the original invoice | Fixed daily or weekly repayments over the loan term |
| Entry criteria | Connect Xero, MYOB, QuickBooks or Reckon and pick a single eligible invoice , no fixed trading-history or revenue threshold for new accounts (subject to standard credit assessment of you and the debtor) | Typically 1+ year trading, $100,000+ annual revenue, credit score assessment |
| Effect on balance sheet | No new debt added to the balance sheet , you are accessing money you have already earned | Adds loan liability to the balance sheet |
| Speed | Typically funded same business day, once your accounting software is connected | Same-day decisions, funding within 24 hours |
| Markets | Australia and New Zealand | Australia |
| Ongoing commitment | No monthly subscription fees, no minimum draw volume | Interest accrues for the full term of the loan |
When FundTap is likely the better fit
- Your business is newer than 1 year of trading, or your revenue is below OnDeck's thresholds, but you are invoicing creditworthy customers.
- You want to access cash from invoices you have already issued, not take on new debt.
- Your cashflow needs come and go with your invoicing cycle, so fixed daily repayments would put pressure on your business.
- You want to fund a single invoice or a few invoices, not commit to an ongoing loan.
When OnDeck is likely the better fit
- Your business has been trading for over a year with $100,000+ in annual revenue.
- You need a lump sum for an investment rather than smoothing cashflow against invoices.
- You prefer a fixed loan structure with set repayments.
Switching to FundTap takes four steps
- Connect your accounting software (Xero, MYOB, QuickBooks or Reckon). Takes about five minutes.
- Pick an unpaid invoice you would like to fund.
- See the exact fee for that invoice before you commit to anything.
- Receive funds, typically the same business day.
Common questions
Does my business need to invoice other businesses to use FundTap?
FundTap funds invoices your customers owe you, whether they are businesses, government departments, councils or consumers. The most common use is invoicing other businesses, but business-to-consumer, business-to-government and similar arrangements work too. What does not fit is cash-only work, because there is no invoice to fund against.
How is FundTap different from a business loan?
FundTap is not a loan. There is no new debt added to your balance sheet, no fixed repayment schedule, and no lock-in. You are accessing money you have already earned through an unpaid invoice. The invoice is repaid automatically when your customer pays, so you are never paying for funding you are not using.
What if my cashflow needs are short-term or sporadic?
That is exactly when FundTap works best. There are no monthly subscription fees, no minimum draw volume, and no contract. Fund one invoice, a few, or none. There is no penalty for not using the product.
How quickly can I get funded?
Once your accounting software is connected and your account is verified, eligible invoices are typically funded the same business day. Cut-off times and processing windows apply.
Competitor information is based on publicly available data at time of writing and may change. This page is for general information only and is not financial advice. Outcomes depend on circumstances, invoice profile, and approval. Confirm current terms directly with each provider.
