Unsecured Business Loans & Financing from Bank of America

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Get funds to grow your business

Apply now for Business Advantage Term Loan Apply now for Business Advantage Term Loan

Loan amount

from $10,000

Fixed rates

As low as 6.50%^{Disclosure † Fixed rates}

Minimum Qualifications

Personal credit above 700 FICO® Score is typically required
2 years in business
$100,000 in annual revenue

Loan amount

from $10,000

Fixed rates

As low as 6.50%^{Disclosure † Fixed rates}

Minimum Qualifications

Personal credit above 700 FICO® Score is typically required
2 years in business
$100,000 in annual revenue

Why use a Business Advantage Term Loan?

This loan^Footnote[1] is ideal when you want to receive all your funds at one time for business expansion, purchasing equipment and long - term capital investments. Additionally, you can now finance your Energy Efficient Equipment such as HVAC, EV chargers, energy efficient appliances, LED lighting and more.

Qualifications:

Both business and personal finances are reviewed for creditworthiness
- Personal credit above 700 FICO® Score is typically required
- At least 2 years in business under existing ownership
- $100,000 or more in annual revenue

Loan Terms:

From 12-60 months

Receive funds as a one-time lump sum
Fixed payments over the life of the loan

Origination Fee:

$150 if approved

Please see terms and conditions for Business Advantage Term Loan for rate, fee and other cost information, as well as an explanation of payment allocation. All terms may be subject to change.

Loan amount

from $10,000

Fixed rates

As low as 6.50%^{Disclosure † Fixed rates}

Minimum Qualifications

Personal credit above 700 FICO® Score is typically required
2 years in business
$100,000 in annual revenue

Loan amount

from $10,000

Fixed rates

As low as 6.50%^{Disclosure † Fixed rates}

Minimum Qualifications

Personal credit above 700 FICO® Score is typically required
2 years in business
$100,000 in annual revenue

Qualifications:

Both business and personal finances are reviewed for creditworthiness

Personal credit above 700 FICO® Score is typically required
At least 2 years in business under existing ownership
$100,000 or more in annual revenue

Loan Terms:

From 12-60 months

Receive funds as a one-time lump sum
Fixed payments over the life of the loan

Origination Fee:

$150 if approved

Please see terms and conditions for Business Advantage Term Loan for rate, fee and other cost information, as well as an explanation of payment allocation. All terms may be subject to change.

Apply now for Business Advantage Term Loan

Calculate your monthly loan payment

Loan Amount

Enter $ amount.

Interest Rate

$5,178

12 months

$1,839

36 months

$1,174

60 months

Get more with Preferred Rewards

Preferred Rewards for Business members can get an interest rate discount of 0.25%-0.75% for new Business Advantage credit lines, term loans and secured lending, based upon your tier at time of application.^Footnote[3]

Learn more

Get more with Preferred Rewards

Prefer a secured business loan?

Finance account receivables or refinance debt with loan secured by your collateral.

Learn more about a secured business loan

Compare loan options

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

So much more than a loan

Expert insights

Explore financing options and cash flow strategies on the Center for Business Empowerment.

Free business credit scores

View your business credit scores^Footnote[4] for free, powered by Dun and Bradstreet.

Interest rate discounts

Pay less interest as a Preferred Rewards for Business member.

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