Business Term Loan

Whether you're investing in new equipment, purchasing new or used vehicles, making office improvements, technology upgrades or covering everyday expenses, a business terms loan can support your growth. Enjoy competitive fixed interest rates with no origination fees.1

Which Business Term Loan is right for you?

Secured Business Term Loan

Use your eligible business assets as collateral and offers loan amounts from $5,000 up to $250,000, with terms up to 84 months.

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Unsecured Business Term Loan

Does not require collateral and offers loan amounts from $5,000 up to $50,000, with terms up to 48 months.

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More Business Term Loan options

General purpose business loan

Best for working capital, office equipment and building improvements

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Business equipment loan

Best for construction, medical or dental equipment

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Business vehicle loan

Best for securing the ideal vehicle for your business needs. Connect with a banker.

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Financing benefits that fit your business.

U.S. Bank offers easy access to financing up to $250,000 for small businesses, with a streamlined application process and personalized attention from bankers.

Quick lending decisions

Our simple online application process makes it easy to quickly receive financing decisions and your funds.

Digital lending management tools

Use U.S. Bank’s business online banking to easily make payments and manage your loans and line of credit.

Trusted SBA lending partner

U.S. Bank is proud to be a designated SBA Preferred Lender providing Small Business Administration (SBA) loans.

Over 160 years of history and expertise

For generations, business owners have trusted U.S. Bank with their financial needs.

Is your business proudly diverse-owned?

Our Business Diversity Lending Program provides funding to diverse businesses with modified credit requirements for potentially easier approvals and favorable rates. See if you qualify.

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Get started with our easy online application.

  1. Provide your name, business address, and phone number. Please include your Tax ID/Social Security Number and Employer Identification Number.
  2. Include information about your gross annual sales.
  3. In some cases, we may require your most recent tax returns, financial statements, or legal documents, such as articles of incorporation.
  4. For secured applications, U.S. Bank will file a Uniform Commercial Code (UCC) lien and must retain the first lien position.
  5. A Personal Guaranty is required for small business loans and lines of credit.1
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FAQ: Your guide to Business Term Loans

A business term loan is a lump sum of capital to be paid back in fixed increments over a set period of time (called a term).

Term loans are great options when you need to borrow money for a specific purpose to help your business grow, whether you're remodeling your space, opening a second location, hiring more employees or investing in a one-time, large purchase.

A term loan can also free up your cash flow, enabling you to put your remaining capital toward day-to-day expenses and emergencies.

These loans commonly come with lower interest rates and flexible payment schedules. Business loans can either be secured or unsecured. A secured loan means that the borrower offers collateral if they default on the loan. An unsecured personal loan does not require collateral. 

Here are a few factors to consider:

  • Credit: The creditworthiness of your business
  • Time in business: How many years your business has been operating (at least 2 years minimum).
  • Collateral: Tangible assets that could be used to secure a loan (only pertains to a secured business term loan).
  • Cash Flow: The amount of cash flowing in and out of your business.
  • Debt load: The amount of debt you have.

When we approve a loan, it typically comes with a maximum loan amount. This is the maximum amount of money that you can borrow. The loan amount depends on multiple factors such as your creditworthiness and the type and purpose of the business term loan.

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Disclosures

  1. If the loan is prepaid in full within one year of the note date, a prepayment fee of 1% of original loan amount is a minimum of $50.00 and a maximum of $100.00. If the loan is SBA guaranteed, there are no prepayment penalties.

  2. U.S. Bank requires business owners to provide a personal guaranty to obtain credit. The term personal guaranty refers to an individual’s contractual promise to personally repay credit issued to a business if the business fails to repay its debt obligations.

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Loan approval is subject to credit approval and program guidelines. Interest rate and program terms are subject to change without notice. Not all loan programs are available in all states for all loan amounts.

Subject to credit approval and program guidelines. SBA loans are subject to SBA eligibility guidelines. U.S. Bank and/or third-party fees may apply. Certain restrictions apply to refinancing options and are subject to program terms.

Financing maximums and terms are determined by borrower qualifications and use of funds.

Financing under the Business Diversity Lending Program is subject to credit approval. Terms and conditions are subject to change.

Business Diversity Lending Program: To be eligible for the BDLP, your business must be at least 51% owned and operated by one or more individuals who are women, people of color and/or veterans. Demographic information regarding gender, race and veteran status is required only to determine eligibility for this program. U.S. Bank does not discriminate on this or any other prohibited basis.

Credit products offered by U.S. Bank National Association and are subject to normal credit approval and program guidelines. Some restrictions and fees may apply.