First Republic Bank business loans review November 2018 |

First Republic Bank business loans review

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Secured business term loans and lines of credit starting at $60,000.

If you run a well-established business on the East or West Coast, you might find a low-fee business loan with First Republic Bank, a bank known for its competitive rates and a personal touch.

You’ll need a few years under your belt and good credit to qualify for loan amounts starting at a relatively high $60,000.

Product NameFirst Republic Bank Business Loans
Min Loan Amount$60,000
Max. Loan AmountNone
APRVaries (starts at prime + 0.15% for lines of credit)
Interest Rate TypeVariable
Maximum Loan Term10 years
  • Profitable business for three years or more.
  • Personal credit score of 700 or higher.
  • Valid First Republic Bank checking account.
  • No bankruptcies in the past 10 years.
  • Enough personal equity to guarantee the loan.
  • No negative marks on your credit report.

First, do I qualify?

You must meet personal and business requirements to be eligible for a First Republic Bank business loan:

  • Your business must show a profit for at least three years.
  • Your personal credit score must be 700 or higher.
  • You must have a First Republic checking account.
  • Your credit report should be free of negative entries, including bankruptcies in the past 10 years.
  • You must own enough personal assets to back your loan.
  • You must live near a First Republic branch.

First Republic Bank operates branches in:

  • California
  • Oregon
  • Connecticut
  • Florida
  • Massachusetts
  • New York

What’s a First Republic Bank business loan?

First Republic Bank offers two types of business loans: secured term loans and lines of credit. First Republic Bank’s business line of credit is backed by a lien on your business assets and a personal guarantee. They’re not for rookies: You need three years of profitability to qualify for a loan. Loan amounts also start at $60,000, which is much higher than some other types of business loans.

Businesses that have a history with First Republic Bank might find a stronger deal than others, because rates on term loans depend on your relationship. Lines of credit are variable and start at prime rate plus 0.15%. All loans come with an origination fee equal to 0.5% to 1% of your loan amount, which the bank deducts from your loan funds before your business receives them. Typically, loan terms are no longer than 10 years.

First Republic Bank also offers term loans specifically designed to cover the costs of construction and real estate. Construction loans start as a line of credit that turns into a long-term loan with variable or fixed interest after the project is over. With all loans, the bank tailors your terms, rates and fees to your business’s specific needs.

Nonprofit financing

In addition to traditional business loans, First Republic offers financing specifically designed for nonprofits and organizations. Through this program, you work with a banker who specializes in nonprofit lending and can help you navigate loans to find low-cost financing that’s exempt from taxes. It also offers banking services to nonprofits, including assistance with 403(b) retirement plans and day-to-day cost management.

How to get a business loan as a nonprofit

What makes First Republic Bank business loans unique?

First Republic Bank brings a personal touch to business financing that has all but disappeared in the industry. Where other banks cut back on staff and customer service, First Republic pushes to prioritize customer experiences. There are no tellers at its branches, only specialists. Customers at many branches can even enjoy freshly baked cookies.

While the process might take longer than applying for a loan online, seasoned business owners with a large project on the horizon might benefit from the personalized detail that First Republic Bank offers its borrowers. You’ll have a point of contact to walk you through the application process and answer any questions you have along the way.

What are the benefits of a First Republic Bank business loan?

  • Competitive fees. It’s common for business loans to come with an origination fee, but First Republic Bank’s 0.5% to 1% range is lower than where many lenders start.
  • Customer service. A personalized lending experience is where First Republic Bank shines.
  • No maximum loan. There are no limits to how much your business can borrow, as long as you have the assets to back the loan.
  • Friendly to nonprofits. First Republic Bank is one of the few business lenders offering a program specifically for nonprofits.

What to watch out for

  • Not for young businesses. Forget about startup financing — your business must be profitable for at least three years to qualify, which can translate into five or six years in business.
  • Limited state availability. First Republic Bank operates branches in six states only, and you must live near a branch to complete your application. So, you still might not be able to apply if you live in a large state like New York, where locations are clustered around New York City.
  • High $60,000 minimum. First Republic Bank’s loans aren’t for business owners looking to pay for small-dollar costs.
  • Requires in-person visit. You can go online to request that First Republic Bank contact you, but you’ll need to complete the application and then talk to your loans adviser over the phone or at a branch to finalize your financing.

Compare First Republic Bank to more business loan providers

Rates last updated November 15th, 2018
Unfortunately, none of the business loan providers currently offer loans for these criteria.
Name Product Product Description Min Loan Amount Max. Loan Amount Requirements
LoanBuilder, A PayPal Service Business Loans
Customizable loans with no origination fee for business owners in a hurry.
Annual business revenue of at least $42,000, at least 9 months in business, personal credit score of 550+.
Credibly Business Loans
Funding to cover business expenses with daily or weekly repayments.
500+ personal credit score, 6+ months in business, $15,000+ average monthly deposits
Lendio Business Loan Marketplace
Submit one simple application to potentially get offers from a network of over 75 legit business lenders.
Must operate a business in the US or Canada, have a business bank account and have a personal credit score of 560+.
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.
12+ months in business, $50,000+ in annual sales, no bankruptcies or tax liens, at least 20% ownership of the business, fair personal credit score or better
OnDeck Small Business Loans
A leading online business lender offering flexible financing at competitive fixed rates.
500+ personal credit score, 1+ years in business, $100,000+ annual revenue
Lending Express Business Loan Marketplace
3+ months in business and $10,000+ monthly revenue or 6+ months in business and $2,000+ monthly revenue
Fora Financial Business Loans
No minimum credit score requirement and early repayment discounts for qualifying borrowers.
Business age 6+ months. Monthly revenue $12,000+. No open bankruptcies.
LendingTree Business Loans
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.

Compare up to 4 providers

How do I apply?

Applying for a business loan through First Republic Bank can be complicated than other types of business loans. Before you get started, make sure you meet First Republic’s personal and business eligibility requirements.


  • Profitable business for three years or more.
  • Personal credit score of 700 or higher.
  • Valid First Republic Bank checking account.
  • No bankruptcies in the past 10 years.
  • Enough personal equity to guarantee the loan.
  • No negative marks on your credit report.

To have enough personal equity to guarantee a loan — or pay it off if your business fails — doesn’t necessarily mean that you need that amount as upfront cash. The value of your home, car or any other big-ticket items count toward your personal equity.

Because completing the application requires visiting a branch in person, you must be close enough to a branch to maintain a regular banking relationship.

Steps to apply

  1. Go to the First Republic Bank website and hover over Business in the top navigation bar.
  2. Under Lending, click whichever business financing you’re interested in.
  3. Under Get Started Today to the right of the page, click Have Us Contact You.
  4. Fill in your contact information and mention any details you think might be important to know before hitting Send Contact Information.
  5. A First Republic Bank adviser will call you to discuss your loan options and business. If they think you might be eligible for a loan, your advisor will send an application and list of required documents.
  6. Submit your application and documentation, and wait the few days required for the bank to decide on your loan.
  7. You’ll hear a decision from your advisor, who will set up another call or visit to discuss your loan further and answer any questions specific to your terms and conditions.
  8. Wait to receive your funds in your First Republic Bank checking account.

The whole process can take six weeks or longer, depending on how much time it takes to get your documents together.

What documents do I need to apply?

Typically, First Republic asks to see the following documents when your business applies for a loan:

  • Tax returns. First Republic will likely ask to see the past three years of business and personal tax returns.
  • Financial statements. Provide your most current business and personal statements to give First Republic an idea of your business’s current cash flow and personal financial health.
  • Bank and broker statements. Like with tax returns and financial statements, First Republic usually wants to see these for both the business owner and the business.

I got a First Republic Bank business loan. Now what?

Most First Republic Bank customers sign up for automatic repayments, so your business won’t need to take the time to pay off the loan each month. You still might want to keep your adviser’s number on hand to ask any questions about your loan.

Keep an eye on your bank account and your loan balance. If you notice something wrong, don’t hesitate to reach out.

Bottom line

First Republic Bank loans could be a lending option for seasoned businesses in need of a large amount of money. It’s not a great option, however, if your business isn’t profitable yet or needs emergency cash. Its lack of locations also means that most business owners in the US won’t be eligible for a loan based on geography alone.

Want to find more business financing options? Read our guide to business loans, where you can compare more lenders.

Frequently asked questions

Anna Serio

Anna Serio is a staff writer untangling everything you need to know about personal loans, including student, car and business loans. She spent five years living in Beirut, where she was a news editor for The Daily Star and hung out with a lot of cats. She loves to eat, travel and save money.

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