Bank Loan
What is a Bank Loan?
Bank loans are traditional term loans offered by established financial institutions. They typically feature the lowest interest rates and longest repayment terms available in the lending market. While the qualification process is more stringent and the timeline longer than alternative lenders, bank loans are ideal for well-established businesses looking for significant capital at favorable terms. Building a relationship with a bank can also open doors to future lending opportunities and additional financial services.
Loan Details
Max. Loan Amount
$20K – $15M
Loan Term
3 – 30 years
Interest Rates
3% – 12%
Speed of Funding
2 – 4 weeks
Loan Requirements
Annual Revenue
$50K+
Credit Score
675+
Time in Business
2+ years
Pros
- Low interest rates
- Flexible use of funds
- Builds business credit history
- Strengthens bank relationship
Cons
- Harder to qualify for
- Lots of paperwork required
- Slower funding timeline
- Collateral sometimes required
How To Apply for a Bank Loan
With our simple online application, the process is quick and easy.
Prequalify Online
Start with our online application to check your eligibility for a bank loan.
Online Approval
A Fundingverse consultant will connect you with the right banking partner for your needs.
Receive Secure Funding
Once the bank approves your loan, funds are deposited into your business account.