Chase business term loans review April 2018 |
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Chase business term loans review

Business loans at generous amounts and fixed repayment terms that can support your business’s bottom line.

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What is a Chase business term loan?

Chase business term loans offer small business owners loans of $5,000 and up with terms ranging from one to seven years. Interest rates vary depending on credit history and the type of business you have.

Product details

Product nameChase business term loan
Interest rateVaries by business
Maximum loan term84 months (7 years)
Minimum loan amounts$5,000
AvailabilityAll 50 states
Repayment typeFixed

Compare business loans from top lenders

Rates last updated April 22nd, 2018
Name Product Product Description Min Loan Amount Maximum Loan Amount Requirements
LoanBuilder, A PayPal Service Business Loans
Customizable loans for business owners in a hurry with no hidden fees.
Annual business revenue of at least $100,000, at least 1 year in business, personal credit score of 600+.
LendingTree Business Loans
Compare multiple business financing options in one place including: small business loans, lines of credit, SBA loans, equipment financing and more.
Varies by lender and type of financing
Varies by lender and type of financing
Varies by lender, but you many require good personal credit, a minimum business age and minimum annual revenue.
National Business Capital Business Loans
Get a large business loan to cover your financing needs, no matter what the purpose is. Startups welcome with 680+ credit score.
Your company must have been in business for at least 6 months and have an annual revenue of at least $180,000.
Excel Capital Management Small Business Loans
Get personalized financing options that suit your unique business needs in just a few simple steps.
Varies by loan type
Varies by loan type
Your business must operate in the US, be at least 1 year old and have monthly revenue of $15,000+.
OnDeck Small Business Loans
A leading online business lender offering flexible financing at competitive fixed rates.
Must have been in business for at least one year with annual revenue of $100K+. Must have a personal credit score of 500+.
Kabbage Small Business Line of Credit
A simple, convenient online application could securely get the funds you need to grow your business.
Must have been in business for at least 1 year. Revenue minimum is $50,000 annually or $4,200 per month over the last 3 months.
Fora Financial Business Loans
Business age 6+ months. Monthly revenue $12,000+. No open bankruptcies.
LendingClub Business Loans
With loan terms that vary from 1 to 5 years, enjoy fixed monthly payments and no prepayment penalties through this award-winning lender.
2+ years in business; $50,000+ in yearly sales; No bankruptcies or tax liens; At least 20% ownership of your business; Fair or better personal credit
SmartBiz SBA Loans
Get funding for your small business with a government-backed loan and extended repayment terms.
Personal credit score of 650+; US citizen or permanent resident; Business must be 2+ years old; Annual revenue of $50,000+; No outstanding tax liens; No bankruptcies or foreclosures in past 3 years.

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What are the benefits of a Chase business term loan?

  • High maximums. Chase will decide how much you can borrow based on your ability to pay back the loan.
  • Low interest rates. If you have good credit, you may less than you’ll find at other banks.
  • Reputable institution. Chase is one of the largest financial institutions in the country.
  • Highly accessible. Access Chase’s services at more than 5,000 branches in the US.
  • Quick funding. Once approved, Chase sends your funds directly to a Chase business banking account.

What to watch out for

Chase offers a variety of ways to fund your small business, but getting a loan is not as easy as an online application.

  • In-person application. You must visit a Chase branch to apply for a business loan.
  • Open only to Chase accountholders. You must hold or open a business banking account prior to qualifying.
  • Down payment required. Be sure you have the money to cover a down payment before applying.
  • Fees and interest rates. Interest rates and applicable fees aren’t available online, so you won’t know the total cost of the loan until you meet with a banker in person.

Am I eligible for a Chase business term loan?

How much you ultimately receive for your business term loan depends on your business and creditworthiness and the down payment you can afford.

To be approved, you must:

  • Hold a Chase business checking account.
  • Create and submit a realistic business plan.
  • Talk with a loan officer in person.

I got a Chase business term loan. Now what?

You got your Chase business term loan and are now ready to open or improve the business of your dreams. A few things to keep in mind:

  • Fund your Chase account to avoid late fees. Repayments are automatically deducted monthly.
  • Pay more than the minimum. To avoid excessive interest charges over the life of your business loan, consider paying more than the amount required each month.

Bottom line

Chase business term loans can get you funding for your business at low interest if you have good credit.

Before you apply, compare your business loan options to see if you qualify for better rates or lower fees.

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