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Small Business Loans & Financing

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 Credit Line

An unsecured line of credit with no collateral

Use whenever funds are needed

Competitive interest rates

Monthly payments based on your balance

Qualifications

Minimum $100,000 in prior year annual gross sales and 2 years in business

Business Advantage Credit Line Cash Secured

A line of credit with a security deposit

Establish your business credit

Build a path towards unsecured credit

Use whenever you need funds

Monthly payments based on your balance

Qualifications

Minimum $50,000 in annualized revenue, 6 months in business, and $1,000 refundable security deposit

Business Advantage Term Loan

An unsecured term loan with no collateral

Receive funds as a one-time lump sum

Competitive interest rates

Fixed payments over the life of the loan

Qualifications

Minimum $100,000 in prior year annual gross sales and 2 years in business

Compare loan options

Business Advantage Credit Line
Business Advantage Credit Line Cash Secured
Business Advantage Term Loan
Business Needs
Business Needs Use whenever you need funds. Competitive interest rates.
Business Needs Establish your business credit. Build a path towards unsecured credit options. Use whenever you need funds.
Business Needs Receive funds as a one-time lump sum. Competitive interest rates.
Security deposit required
Security deposit required No
Security deposit required Yes
Security deposit required No
Minimum years in business
Minimum years in business 2 Years
Minimum years in business 6 Months
Minimum years in business 2 Years
Minimum sales revenue
Minimum sales revenue $100,000 in prior year annual gross sales
Minimum sales revenue $50,000 in annualized revenue
Minimum sales revenue $100,000 in prior year annual gross sales
Receive funds
Receive funds When needed
Receive funds When needed
Receive funds One-time lump sum
Interest is paid
Interest is paid Only on the outstanding balance
Interest is paid Only on the outstanding balance
Interest is paid Only on the outstanding balance
Payments
Payments Monthly payments based on your balance
Payments Monthly payments based on your balance
Payments Fixed equal monthly payments based on your loan amount and term
Graduation path to unsecured option
Graduation path to unsecured option N/A
Graduation path to unsecured option Yes
Graduation path to unsecured option N/A

Business Advantage Auto Loan

Purchase or refinance the cars, vans and light trucks that help keep your business moving.

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 4.75%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

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 5.75%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

Go to equipment loans

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 6.00%Disclosure2 Fixed rates
Loan terms: revolving with annual renewal
Qualifications: Minimum 2 years in business under existing ownership; minimum $250,000 in annual revenue

Go to secured lines of credit

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 5.75%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

Go to secured term loans

Health care practice loans

Start or grow your practice with loans for doctors, dentists and veterinarians.

Go to healthcare practice loans

SBA loans

Make your dream business a reality with loans designed for new ventures.

Go to SBA loans

Advertised as low as rate is effective as of September 1, 2022 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. Subject to credit approval; some restrictions may apply.
Advertised as low as rate is effective as of September 1, 2022 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. Subject to credit approval; some restrictions may apply.

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

See a complete list of what you'll need to apply

So much more than a loan

Expert insights

Explore financing options and cash flow strategies on Small Business Resources.

Free business credit score

View and monitor your business credit score for free, powered by Dun & Bradstreet.

Interest rate discounts

Pay less interest as a Preferred Rewards for Business member.