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Get the money your business needs
We offer a variety of financing options for your business to purchase inventory and materials, refinance debt or finance account receivables.
Business Advantage
Small Business Loans & Financing
Business Advantage Credit Line
An unsecured line of credit
- Use whenever funds are needed
- Save up to $150 on your origination feeDisclosure † Interest rate
- No collateral required
- Monthly payments based on your balance
Business Advantage Term Loan
An unsecured term loan
- Receive funds as a one-time lump sum
- Competitive interest rates
- No collateral required
- Fixed payments over the life of loan
Business Advantage Credit Line: Save up to $150: As a small business owner, you’ll pay an origination fee of just $50 — that’s a savings of $100 on the one-time origination fee. Applications must be received between July 5, 2019 and September 30, 2019. Plus, enroll in Autopay within 90 days of opening your line of credit, use your checking account to make your Autopay payments, and get a $50 credit to your Business Advantage Credit Line account. The $50 credit will be applied to the account after the origination fee is posted. Exceptions apply.
Business Advantage Auto Loan
Purchase or refinance the cars, vans and light trucks that help keep your business moving.
Keep your business rolling
Vehicle financing made easy with competitive rates and flexible terms.
Loan amount
From $10,000
Loan term
48 to 72 months
More small business loans
We'll help you get the financing you need with fast loan processing times and flexible terms.
Commercial real estate
Purchase the land or buildings your business needs as it grows. Leverage your equity and invest in your business.
Loan amount: From $25,000
Interest rate: As low as 3.75%Disclosure2 † Fixed rates
Loan terms: Up to 10 years (with balloon payment); Up to 15 years (with full amortization)
Qualifications: Minimum 2 years in business under existing ownership; minimum $250,000 in annual revenue
Go to commercial real estate loans
More info: Introduction to Buying Commercial Property
Equipment loans
Equip your business with the tools and machinery it needs to get work done.
Loan amount: From $25,000
Interest rate: As low as 3.75%Disclosure2 † Fixed rates
Loan terms: Up to 5 years (when secured by business assets)
Qualifications: Minimum 2 years in business under existing ownership; minimum $250,000 in annual revenue
More info: Tax Benefits & Drawbacks When Leasing for your Business
Secured business line of credit
Support ongoing operational expenses with a line of credit typically secured by a blanket lien on your assets or a certificate of deposit.
Loan amount: From $25,000
Interest rate: As low as 5.75%Disclosure2 † Fixed rates
Loan terms: revolving with annual renewal
Qualifications: Minimum 2 years in business under existing ownership; minimum $250,000 in annual revenue
Learn: What is a Business Line of Credit & How Does it Work?
Secured business loans
Expand your business or refinance debt with a loan secured by your choice of collateral.
Loan amount: From $25,000
Interest rate: As low as 4.25%Disclosure2 † Fixed rates
Loan terms: up to 4 years (when secured by business assets); up to 5 years (when secured by CDs)
Qualifications: Minimum 2 years in business under existing ownership; minimum $250,000 in annual revenue
Health care practice loans
Start or grow your practice with loans for doctors, dentists and veterinarians.
Advertised as low as rate is effective as of September 1, 2019 and is subject to change. Your actual interest rate may differ based on your creditworthiness, overall business relationship with Bank of America and line amount.
Applying for a small business loan
Expand this section to learn more about how to apply and the information you’ll need for your application.
How to apply for small business financing:
- You can apply for a Business Advantage Auto Loan online
- If you use Small Business Online Banking, you can apply for an unsecured business loan or unsecured business line of credit online
- You can apply for any small business loan by scheduling an appointment at your convenience
- Most Bank of America financing requires that your business be under ownership for at least 2 years. In business for less than 2 years? Learn more about SBA loans
Information you'll need to apply includes:
- Business documentation such as filing documents, organizing documents, articles of incorporation and/or certificate of resolution
- Business name, address and tax ID
- State in which the business operates and was formed
- Date the business was established
- The Social Security number, address and date of birth of all business owners
Top FAQs
How long does the application process take?
Do I need to have an account with Bank of America to apply for small business financing?
