How to apply for Chase Business Loans
Discover the process of applying for Chase Business Loans to gain access to the invaluable experience and expertise provided by a prominent financial institution.
Get Up to $12.5 Million in Loans for Your Business with Chase
Chase, one of the largest banks in America, offers a robust small business financing program. Whether you need a line of credit, term loan, or SBA-backed financing, Chase has a range of options to accommodate your business’s financial needs. With the ability to provide loans from $5,000 to over $500,000, Chase can meet almost any funding requirement. Additionally, if eligible, you can access up to $12.5 million in SBA loans through Chase.
While Chase has stricter eligibility criteria compared to alternative lenders, it presents excellent financial options for eligible businesses looking to expand. However, it’s worth noting that Chase may have different loan eligibility requirements than some other lenders. To explore your options and begin the application process, you’ll need to visit your nearest Chase branch.
If your company is new or doesn’t meet traditional bank requirements, it’s advisable to explore alternative financing options outside of Chase. However, if you meet Chase’s criteria, the bank offers reliable funding and exceptional service.
What to Know About Chase Business Loans
Chase provides various rates and terms depending on the type of loan. While specific rates aren’t disclosed on their website, you can obtain a quote by visiting a Chase branch. Term loans, starting at $5,000 and lasting between 12 and 84 months, require monthly payments at either a fixed or adjustable rate. Term loans are suitable for long-term purchases or company expansions.
SBA Loans with Chase
Chase offers several SBA loan options, including 504 program loans, express term loans, and loans under the 7(a) program. The 7(a) program provides loans up to $5 million with various maturities, while the 504 program offers loans with flexible terms and interest rates without a maximum limit, depending on your company’s financial state.
Eligibility for Chase Business Loans
Chase Bank doesn’t provide specific eligibility requirements for their business loans on their website, so it’s best to speak with a local small business banker for personalized guidance. However, maintaining a personal credit score of at least 670 and having a business in operation for a minimum of two years are advisable for increasing your chances of approval. While Chase doesn’t disclose the required annual revenue, most companies typically need a minimum yearly revenue of $100,000 to $250,000.
How to Apply for a Chase Business Loan
Chase doesn’t divulge all the details of their loan application process on their website. It’s recommended to speak with a Chase small business banker, who can guide you through the requirements specific to your situation. However, you can expect to provide documents such as a profit and loss statement, business bank statements, and tax returns for the three most recent years, both personal and business.
Chase Business Loans vs Biz2Credit Loans
Chase Business Loans are ideal for established businesses with a strong credit score looking for additional funding. However, the application process may take time. If you need fast business loans and don’t have a stellar credit score, Biz2Credit Loans could be a suitable option.
Benefits of Chase Business Loans
- Bank SBA Preferred
- Available in most states across the lower 48
- Offers a variety of financial products for businesses
Benefits of Biz2Credit Loans
- Access to various loan types
- Fast funding approval and disbursement
- Simple application process
- Higher borrowing thresholds
How to Apply for Biz2Credit Loans
To learn more about Biz2Credit Loans and the application process, you can refer to our comprehensive article on the topic.
