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LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

U.S. Bank Business Loans Review

Updated on:
Content was accurate at the time of publication.
Editorial Note: The content of this article is based on the author's opinions and recommendations alone. It may not have been reviewed, commissioned or otherwise endorsed by any of our network partners.

 Estimated APR range: Not disclosed

 Best for: Business owners who appreciate working with a dedicated business banker to meet their financing needs.

Pros and cons of U.S. Bank

ProsCons

 Quick online application for smaller loan amounts with opportunity to apply for larger loans with an appointment

 125% equipment financing available

 Increased maximum loan amounts on SBA 7(a) loans if you’re using the funding for real estate purposes

 Rates and business requirements not shared publicly

 Absence of SBA Express loans from SBA offerings

 Limited information available on the website

On this page

U.S. Bank small business loans review

US Bank is a traditional brick-and-mortar bank. In fact, it’s the fifth-largest bank in the country by assets. While it does have online capabilities and applications for smaller loans, it’s highly likely that you’ll need to apply for your small business loan with a live banker in person, over the phone or via a virtual meeting. While US Bank is an SBA preferred lender, there are some holes in its SBA coverage, such as the absence of SBA Express loans.

Who is U.S. Bank for?

  • Borrowers who appreciate working with a live agent. Many of US Bank’s lending products require an interview with a live banker.
  • Business owners with a decent credit history. As a traditional bank, US Bank is unlikely to be a good option for a bad credit business loan.
  • SBA borrowers with modest real estate needs. US Bank allows you to use SBA 7(a) loans for real estate purposes, and is willing to add up to $2,000,000 to the maximum loan amount to allow you to do so. SBA 7(a) loans do not come with balloon payments, unlike some of U.S. Bank’s conventional commercial real estate loans.

U.S. Bank small business financing at a glance

ProductLoan amountsRepayment termEstimated APR rangeFees
Unsecured term loans$5,000-$50,000Up to 84 monthsNot disclosedNo origination fee
Secured term loans$5,000-$1,000,000Up to 84 monthsNot disclosedNo origination fee
Lines of creditUp to $1,000,000Not applicableNot disclosedNot disclosed
Equipment financingUp to $1,000,000Starting at 24 monthsNot disclosedNot disclosed
Commercial real estate loansUp to $10,000,00060-180 months, amortization up to 300 monthsNot disclosedNot disclosed
SBA 7(a) loansUp to $5,000,000Up to either 84 or 120 months depending on loan purposesRates vary, subject to SBA maximums*Not disclosed
SBA 7(a) real estate loansUp to $7,000,000Up to 300 monthsRates vary, subject to SBA maximums*Not disclosed
SBA 504 loansUp to $12,375,000Up to either 120 or 300 months depending on loan purposesAbout 3.00%*Not disclosed

*Terms and rates based on SBA guidelines

Business term loans

US Bank offers a number of different business term loans. First, there are the term loans you can apply for online, or ‘quick loans’ as they’re dubbed at US Bank. You can get either a secured or unsecured term loan in this manner. The unsecured term loans don’t require collateral. You can borrow anywhere between $5,000 and $50,000 with terms of up to 84 months.

You can also get a secured business loan as quick loans do require collateral, but you’ll get lower rates. You’ll also gain the ability to borrow more – up to $250,000. If you need to borrow even more and have adequate collateral, you can apply for a conventional secured business loan of up to $1,000,000 by making an appointment with a US Bank representative.

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Business lines of credit

US Bank offers four different business lines of credit, each with a different maximum borrowing amount:

  • Business reserve line: Up to $5,000 to act as overdraft protection on your U.S. Bank business checking account.
  • Cash flow manager: Up to $250,000 to manage your business cash flow.
  • Business equity line of credit: Up to $500,000 when you put up business real estate as collateral. Terms of up to 60 months.
  • Business line of credit: Up to $1,000,000 for materials, equipment or inventory.

You will need to make an appointment with a banker to apply for any line of credit except the cash flow manager. That one can be applied for online. While US Bank does share a max term of 60 months for its business equity line of credit, typically with a line of credit your term acts a lot more like it would on a business credit card. The goal is to pay it off as quickly as possible to avoid paying cumulative interest.

Equipment financing

US Bank offers equipment financing for large business machinery, like commercial vehicles, construction equipment or medical equipment. You can get equipment loans for up to 125% of the costs, which is a fancy way of saying that you get additional funds to cover expenses like installation, taxes and shipping.

If you apply online, you can get up to $200,000 in equipment financing, but you can get up to $1,000,000 if you apply with a banker. Payments are flexible, as they can be made monthly, quarterly, seasonally, semiannually or annually.

Commercial real estate loans

US Bank offers conventional commercial real estate loans that can be used to expand or remodel your existing properties, or to finance multi-unit investment properties. The max you can borrow is $10,000,000, and business loan interest rates can be either fixed or variable. Loan terms can be either 60, 120 or 60 months, but amortization can stretch out over 25 years. This means that if your term ends before amortization, plan to either refinance at the end of your term or get stuck with a large balloon payment.

SBA 7(a) loans

SBA 7(a) loans are backed by the Small Business Administration, and US Bank offers them in two packages. You can borrow up to $5,000,000 if you’re using the SBA 7(a) loan for any of the following purposes:

  • Working capital
  • Equipment
  • Debt refinancing
  • Business acquisition
  • Tenant improvement
  • Partner buyout

If you use the loan to purchase, refinance or build commercial real estate, you may be eligible for US Bank to throw another $2,000,000 on top, for a grand total of up to $7,000,000.

Real estate 7(a) loans can extend up to 300 months. 7(a) loans for working capital and inventory can last up to 84 months, and up to 120 months for all other purposes. There are no balloon payments.

SBA 504/CDC loans

SBA 504 loans are a type of SBA loan specifically for larger real estate purchases. You can also use the funding for refinancing or new construction, which in some cases includes equipment. The max SBA 504/CDC loan amount at US Bank is $12,375,000. Terms on equipment max out at 10 years, while you can borrow over the course of 25 years for all other loan purposes.

Medical practice loans

US Bank offers financing options for dentists, veterinarians and eye care practices. You can secure financing for acquiring or buying into an existing practice, refinancing your current practice, or expanding or relocating your current practice. Terms and other details vary depending on why you need to borrow. For example, terms on refinancing loans can be up to 180 months, while practice expansion loans are capped at 120 months. For all practice loans, you’ll need to apply directly with a banker.

U.S. Bank borrower requirements

Minimum annual revenueNot disclosed
Minimum time in businessNot disclosed
Minimum credit scoreNot disclosed

US Bank is not overly transparent with its business loan requirements. Because it’s a larger, brick-and-mortar bank, it’s safe to assume that those requirements may be higher than they would be with online lenders.

Required documents

When you apply for a business loan with U.S. bank, come prepared with:

  • Your business tax returns
  • Your personal tax returns
  • Financial statements for your business
  • Your business’ articles of incorporation

Depending on your application, you may be asked for additional documentation once the process gets started.

Alternatives to U.S. Bank

How Does LendingTree Get Paid?
LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.
U.S. BankBank of AmericaPNC Bank
Minimum credit scoreNot disclosed670 for unsecured lending products, not disclosed for other productsNot disclosed
Loan products offered
  • Secured and unsecured term loans
  • Secured and unsecured lines of credit
  • Equipment financing
  • Commercial real estate loans
  • SBA 7(a) loans
  • SBA 504/CDC loans
  • Medical practice loans
  • Secured and unsecured term loans
  • Secured and unsecured lines of credit
  • Cash-secured lines of credit
  • Business auto loans
  • Equipment financing
  • Commercial real estate loans
  • SBA 7(a) loans
  • SBA Express loans
  • SBA 504/CDC loans
  • Healthcare practice loans
  • Franchise financing
  • Secured and unsecured term loans
  • Secured and unsecured lines of credit
  • Business auto loans
  • Commercial real estate loans
  • SBA 7(a) loans
  • SBA Express loans
  • SBA Export Express loans
  • SBA 504/CDC loans
  • Healthcare practice financing
Starting interest rateNot disclosed
  • 7.25% on unsecured term loans
  • 6.75% on secured term loans and equipment financing
  • 10.00% on unsecured lines of credit
  • 9.50% on secured lines of credit
  • 6.99% APR on business auto loans
  • 6.00% on commercial real estate loans
Not disclosed
Maximum loan size
  • $50,000 for unsecured term loans
  • $1,000,000 for secured term loans, lines of credit and equipment financing
  • $10,000,000 for commercial real estate loans
  • $5,000,000 for SBA 7(a) loans
  • $7,000,000 for SBA 7(a) loans used for real estate purposes
  • $12,375,000 for SBA 504/CDC loans
  • Starting at $10,000 for unsecured term loans, unsecured lines of credit and business auto loans
  • Starting at $10,000 for secured term loans, secured lines of credit, equipment financing loans and commercial real estate loans
  • Starting at $1,000 for cash-secured lines of credit
  • $5,000,000 max for SBA 7(a) loans
  • $500,000 max for SBA Express loans
  • $20,000,000 max for SBA 504/CDC loans
  • $100,000 for unsecured term loans and lines of credit
  • Starting at $100,001 for secured term loans, lines of credit and commercial real estate loans
  • $250,000 for business auto loans
  • $5,000,000 for SBA 7(a) loans
  • $500,000 for SBA Express loans
  • $500,000 for SBA Express Export loans
Minimum annual revenueNot disclosed
  • $50,000 for cash-secured lines of credit
  • $100,000 for unsecured term loans and lines of credit
  • $250,000 for secured term loans, secured lines of credit, equipment financing loans and commercial real estate loans
Not disclosed

U.S. Bank vs. Bank of America

Compared to US Bank, Bank of America offers a wider suite of business financing options. Specifically, they have business auto loans, SBA Express loans, franchise financing and cash-secured lines of credit, all of which are absent at US Bank. Bank of America’s SBA 504 loan maximum is markedly higher at $20,000,000 compared to US Bank’s max loan size of $12,375,000. While Bank of America is far more upfront about its starting rates, that doesn’t necessarily mean they’re lower. The best way to find out would be to inquire with both banks.

U.S. Bank vs. PNC Bank

PNC Bank also offers more business loan products than US Bank. PNC Bank’s additional products include business auto loans, SBA Express loans and SBA Express Export loans. Loan sizes on unsecured term loans are larger at PNC Bank, though both financial institutions are tight lipped about their rates. Applying at both banks would be the best way to determine which is best for your circumstances.

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