Small Business Loans - Compare Loan Types and Start Your Application

The Small Business Administration (SBA) has announced it is no longer accepting Paycheck Protection Program (PPP) loan applications from most lenders. This is earlier than the SBA's previous deadline of May 31.

In line with this announcement, please note:

Bank of America is no longer accepting or processing new PPP loan applications from clients.
Clients with applications that have been submitted to Bank of America or the SBA, and are currently pending, will be notified of their application status through email. Please note information on the status of PPP loans is not available through our financial centers or contact centers.

For the latest information on PPP please visit the SBA website.

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

Use whenever funds are needed
Competitive interest rates
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 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

Apply Now for a Business Advantage Auto Loan Learn More about Business Advantage Auto Loan

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 3.00%^{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 3.00%^{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 3.75%^{Disclosure2 † Fixed rates}
Loan terms: revolving with annual renewal
Qualifications: Minimum 2 years in business under existing ownership; minimum $250,000 in annual revenue

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 3.50%^{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

† Important rate and payment information disclosure expanded disclosure collapsed

Advertised as low as rate is effective as of April 1, 2020 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.

† Important rate and payment information disclosure expanded disclosure collapsed

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.