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Updated Jun. 18, 2026
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Our team researched the best business loan options available so you can compare business lines of credit.
Click the ‘See personalized rates’ button next to the provider of your choice and provide us with a little information about what type of loan you’re looking for.
Choose a loan from a Bankrate partner and receive your funds if you qualify.
Wells Fargo offers small business lines of credit for every business size, whether you’ve been in business for under two years or whether you have a large business with millions in sales. Its most unique feature is that its lines of credit come with a Mastercard rewards program, rewarding you for every dollar spent. This top bank lender also offers SBA loans.
What to know
To get on board with this lender, you will need a strong personal credit score of at least 680 to qualify. For the Prime line of credit, your business will also need at least $2 million in annual revenue. Wells Fargo does require personal guarantees, and those with at least 25 percent ownership must sign the guarantees.
Business Credit Score: N/A
Personal Credit Score: 680
Personal guarantee requirement: No
Minimum time in business requirement: 2 years
Minimum business annual revenue: N/A
PNC Bank offers fast lending decisions within one to five business days, helping you get quick access to your cash when most banks would make you wait a week or more. It offers a variety of business loans from secured and unsecured options to commercial real estate. PNC Bank also offers discounts on interest rates if your business is located in a low-to-moderate income area.
What to know
PNC Bank accepts fair credit scores of at least 660 to be eligible for its loans. It does require two years in business, a common requirement for a bank but one that edges out startups.
Business Credit Score: N/A
Personal Credit Score: 660
Personal guarantee requirement: No
Minimum time in business requirement: 2 years
Minimum business annual revenue: N/A
Huntington National Bank has been the largest originator of SBA 7(a) loans for the past seven years. As an SBA Preferred Lender, this bank is an ideal choice if you need an SBA loan and want quick processing. You can choose from an SBA 7(a), 504 or Express loan.
What to know
Huntington Bank doesn’t disclose its eligibility requirements for its loans, so you’ll need to talk with a loan specialist to determine if you qualify. If you’re going with a term loan, real estate loan or line of credit, you’ll need to be in a state where it has branches: Colorado, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, West Virginia and Wisconsin.
Business Credit Score: N/A
Personal Credit Score: N/A
Personal guarantee requirement: No
Minimum time in business requirement: N/A
Minimum business annual revenue: N/A
TD Bank is a lending giant offering term loans, lines of credit, commercial real estate loans and SBA loans. It’s a popular choice because of its fast funding within one business day, and unlike competitors, it considers all businesses that apply regardless of credit score or time in business.
What to know
Like many banks, TD Bank isn’t forthcoming about what it requires in order to be accepted. It does consider all applications, even if your business is a startup. You can apply online for loans under $250,000, but some loans require you to apply in person.
Business Credit Score: N/A
Personal Credit Score: N/A
Personal guarantee requirement: No
Minimum time in business requirement: N/A
Minimum business annual revenue: N/A
Live Oak Bank is a unique online lender that specializes in SBA loans, including 7(a), 504 and Express loans. It is the second-largest originator of SBA 7(a) loans by loan amount, which may make it a good choice for your SBA funding needs.
What to know
Live Oak Bank is a unique online lender that specializes in SBA loans, including 7(a), 504 and Express loans. The lender is the second-largest originator of SBA 7(a) loans by loan amount, so you can trust this lender with your SBA funding needs.
Business Credit Score: N/A
Personal Credit Score: N/A
Personal guarantee requirement: No
Minimum time in business requirement: N/A
Minimum business annual revenue: N/A
One of the largest banks with branches all across the U.S., Bank of America offers a versatile selection of business loans, including three lines of credit, equipment loans, commercial real estate loans and SBA loans. Its Cash-Secured Line of Credit helps small businesses build credit by allowing them to open a credit line with a cash deposit.
What to know
The Cash-Secured Line of Credit accepts businesses with just six months in the market and $50,000 in annual revenue. You will need to put up a cash deposit of at least $1,000. Bank of America’s other business loans generally require at least two years in business, $100,000 in annual revenue and a 700 personal credit score.
Business Credit Score: N/A
Personal Credit Score: N/A
Personal guarantee requirement: No
Minimum time in business requirement: 6 months
Minimum business annual revenue: $250,000
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Access to small business funding is a challenge for many business owners. Rate hikes and bank turmoil have led to lenders tightening credit standards and eligibility requirements. This can make it difficult for startups, bad-credit borrowers and business owners in underserved areas to get approved for small business loans.
Our experts consider several factors in this category and award higher scores to lenders that offer flexible loan amounts, fast approval and funding and inclusive time in business and annual revenue requirements.
The affordability of a business loan often depends on a business owner's financial profile. A business with high revenue and a flexible budget will likely be able to afford most loan options. Businesses considered high risk, such as startups or those with bad credit, may struggle to find loans with affordable interest rates and reasonable fees.
We consider a business loan affordable if the payments are manageable, you have the lowest possible rate based on your creditworthiness and there are minimal fees. Lenders that have lower rates, offer rate or fee discounts and have minimal fees receive higher scores.
A good customer experience requires a lender to be transparent, efficient and responsive. Reputable lenders that value their customers are easy to communicate with, responsive to your questions and concerns and willing to go the extra mile to make sure you have a positive experience for the life of the loan.
Lenders offering online accounts and applications and a range of customer support availability score higher in this category.
While the Truth in Lending Act (TILA) protects consumers against unfair or harmful lending practices, it doesn’t apply to business loans. This can make it harder to get straightforward and upfront information on loan costs when comparison shopping. We score lenders that make it easy to find rates and fees, as well as eligibility and credit score requirements, higher than those who do not disclose information.
Loan flexibility is finding a loan to meet your needs, even if you don’t have high annual revenue, several years in business or the best credit score. Loan flexibility can look like lenders that offer multiple lending products, variety in loan terms or unique options to give business owners the opportunity to fund their businesses in a way that works for them.
Lenders scoring high in this category offer varied products and services to cater to all types of borrowers and businesses.
A bank loan for business is any type of financing a business owner receives from a traditional bank like Bank of America or Wells Fargo. In 2023, five top U.S. banks held between $200 billion and $760 billion in total business funding, according to data from American Banker.
These loans often come with attractive terms, generous loan amounts and competitive interest rates. Qualifying for a small business loan with a bank is often challenging for startups and businesses without strong financial backgrounds. So, you’ll need to do some research to find the best option for you.
When applying for a small business loan through a bank, business owners will often meet with a lender who can recommend them the best type of loan for their needs. Applicants submit their credit score, a business plan with information like financials and cash projections and other personal and financial information. If the application is approved, the bank lends a certain amount of money to the small business, which business owners then repay over the term in addition to fees and interest.
Lenders may require a business owner to provide an asset or assets which will act as collateral to secure the loan. When you provide business collateral, you may receive lower rates, longer repayment terms or approval with a lower credit score or revenue amount.
Most bank loans for business also require business owners to provide a personal guarantee. If you fail to pay back your loan, a personal guarantee gives the lender the right to come after your personal assets. Even if your business is established as a limited liability company (LLC), a lender has the right to hold you personally liable if you default on a business loan.
One of the key things to remember about business loans is that, unlike personal loans or other lending options, funds have to be applied to business operations. Some loan types may even stipulate which part of the business, such as equipment financing, which goes exclusively towards the equipment listed on the loan.
If you don’t know where to start in getting the best bank business loan for you, Bankrate is here to help. Let us walk you through the steps so you can get qualified and get the capital you need.
Bank business loans can offer a more tailored product and the potential for a long-term business relationship with an established lender, which can snag you mentorship opportunities, lower interest rates and access to a wide variety of loan products.
You should consider a business loan from a bank if:
Taking on too much debt can quickly put your business under with huge payments and exponential interest. Before you take out a loan, it’s key to calculate how much debt burden you can handle.
As a rule of thumb, you shouldn’t go beyond a 36% debt-to-revenue ratio for the total amount of loans you take out. For example, your business makes $650,000 a year, then you shouldn’t borrow more than $234,000 in total.
Another thing to consider is how much monthly payment you can afford. If you decide, for example, that you can afford a maximum monthly payment of $5,250, then the most you can afford to borrow with a 10.5% APR on a five-year loan is $244,255.
Using a business loan calculator can help calculate your monthly payment and fees based on how much you borrow.
Banks often have strict eligibility requirements for their business loans based on the loan product, amount and the bank. In general, you can expect:
Speed up your loan approval process by having your paperwork ready.
Read moreWhen shopping for bank loans, consider prequalifying with us. Bankrate offers multiple benefits if you decide to prequalify on our site, including:
Generally, the application and underwriting process for a bank is more rigorous, credit standards are higher and loan terms are more flexible. With an online lender, the application and underwriting process is more streamlined, credit standards are lower and loan terms are fairly standard.Thomas Brock: CFA, CPA
Choosing the right bank for your lending needs can make a big difference in your borrowing experience. As no two banks are exactly the same, and no two businesses have exactly the priorities, here’s what you should consider when comparing banks.
| If your most important deciding factor is… | …then you should consider |
| Borrowing costs |
Banks with lower interest rates or capped borrowing fees for members. |
| Funding flexibility |
Banks with adjustable terms, or with flexible lending products such as a line of credit |
| Rewards |
Banks with sign-on bonuses or business credit card tie-ins. |
| Customer service |
Banks that can pair you with a loan officer and that have 24/7 availability via app or phone line. |
| Product offerings |
Larger banks, which tend to have a variety of lending products. |
| Ease of approval |
Banks with lower credit requirements or the ability to secure your loan with collateral. |
| Speed of approval |
Banks that offer a fast funding guarantee, or a bank that you’ve borrowed from before. |
| SBA loan availability |
An approved SBA lender with a dedicated SBA division or office. |
Not sure what kind of bank loan is best for you? Review your options.
Read moreYou’ll need to shop around to determine which banks feature the best interest rates on small business loans. The terms you receive will vary by your personal credit rating and your company’s financial profile.
Not all banks offer small business loans, though most banks do. Instead, some banks focus on investment and deposit products rather than business loans. Banks that do offer business loans may have tight lending criteria, nudging out the smallest businesses from getting a loan. But if you qualify, you can often get favorable interest rates and repayment terms.
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