Previously capped at $250,000, the increased limit reflects OnDeck's commitment to supporting the evolving financial requirements of Australian businesses. The Lightning Loans Plus product is renowned for its swift approval process, often delivering decisions within hours, which is particularly advantageous for SMEs seeking prompt funding solutions.

OnDeck Australia's CEO, Cameron Poolman, emphasized the significance of this development, stating that the company's continuous investment in credit models has streamlined risk assessment processes. This innovation enables the approval of higher loan amounts swiftly, utilizing just bank statement and credit bureau data. For brokers, this advancement reduces friction, while for small businesses, it provides access to funds precisely when needed.

The decision to raise the loan cap aligns with a notable surge in SME loan applications, which increased by 42% year-on-year in the fourth quarter of 2025. This uptick indicates a shift in SME behavior from survival-focused borrowing to investment-driven financing, with expansion emerging as the primary purpose for seeking funds.

Geographically, Western Australia led the growth in loan applications, doubling compared to the previous year, followed by significant increases in Queensland and New South Wales. This trend underscores a nationwide resurgence in SME confidence and a proactive approach to leveraging financial products for business development.

By offering higher loan limits with rapid approval times, OnDeck Australia positions itself as a pivotal partner for SMEs aiming to capitalize on growth opportunities without the delays associated with traditional lending processes. This move not only addresses the immediate financial needs of businesses but also contributes to the broader economic vitality by empowering SMEs to invest and expand.