Having a business loan is part of any type of business. It provides a means for the company to survive and keep running during tough times and delayed income. And just like anything related to your business, you want to make sure to get the best from the best, right? Here’s a list of the best banks you can turn to for your small business loans.
Wells Fargo
This bank has several types of business loans in its portfolio, especially for large businesses. For small businesses, they offer Unsecured Business Loan and Line of Credit. Hence, the borrower won’t be required to provide a collateral for the loan.
Bank of America
Bank of America is determined to gain the trust and loyalty from owners of small businesses. They have more than enough branches all over the country, making them very accessible to their clients and prospective business loan borrowers.
JPMorgan Chase
Chase is the largest U.S. bank. They are also known to be innovative when it comes to banking needs. They are affiliated with OnDeck, an alternative lending company. This allows them to reach out to more small business owners. Chase also offers a good deal when it comes to business credit cards, in case loans won’t work for your business.
Capital One
Capital One did well in investing in its business loans department. They now offer a long list of options for their business clients. Their interest rates for existing customers are relationship-based, so if you have a good record with them, you can expect a lower interest rate for your business loan. Capital One also tailors offers to fit the credit needs based on your business.
Whichever bank you decide to get your loan from, make sure to prepare all pertinent documents. Also, make sure to keep proper records with your bank. Remember that your bank records can and will affect your access to financial resources in the future.