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Small Business Loans & Financing

Paycheck Protection Program

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 wesbite.

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

We are committed to helping clients with their Paycheck Protection Program needs. Learn more about our response to COVID-19 about our response to COVID-19.

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 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

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.
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.

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