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Fulton Bank business loans review

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Find SBA loans and an online application for term loans at this regional bank.

  • Best for multiple SBA loan options.
  • Pick something else if you have an emergency expense.

$250,000

Max. Amount

Details

Product NameFulton Bank small business term loans
Max. Amount$250,000
Requirements2+ years in business, less than $1.2 million in gross revenue

Expert review

Anna Serio

Review by


Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 950 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.

Expert review

Fulton Bank business loans could be a good choice for businesses that want to build a long-term relationship with a relatively small lender — especially if you’re looking for SBA funding. It’s a preferred lender and offers a wide range of less-common programs, including Export Express, International Trade and CAPLine lines of credit.

It doesn’t disclose much information about its term loans online — you’ll have to apply or speak to a representative to discuss your options. And it’s a regional bank that only serves businesses in Delaware, Maryland, New Jersey, Pennsylvania and Virginia. Businesses in other states will have to Fulton Bank business loans could be a good choice for businesses that want to build a long-term relationship with a relatively small lender — especially if you’re looking for SBA funding. It’s a preferred lender and offers a wide range of less-common programs, including Export Express, International Trade and CAPLine lines of credit.

It doesn’t disclose much information about its term loans online — you’ll have to apply or speak to a representative to discuss your options. And it’s a regional bank that only serves businesses in Delaware, Maryland, New Jersey, Pennsylvania and Virginia. Businesses in other states will have to look at other options.

Fulton Bank COVID-19 relief line of credit

Fulton Bank is offering unsecured lines of credit to businesses affected by the coronavirus outbreak. These come with credit limits up to $50,000, no origination fee and a 0% introductory APR for the first three months following approval.

But there are some restrictions. You can only apply for this product if your business doesn't already have a line of credit with the bank. And you won't be able to defer payments if you can't make them at all. Visit our guide to coronavirus loans for small businesses to learn about your other options.

First, do I qualify?

Your business must be at least two years old and have a gross annual revenue of less than $1 million — or $1.2 million if you're already a customer. Your business also needs to be located in one of the five states that Fulton Bank serves:

  • Delaware
  • Maryland
  • New Jersey
  • Pennsylvania
  • Virginia

It's possible these requirements are more flexible if you back your loan with collateral — and you may be able to borrow more than $250,000. Reach out to a representative if you're interested in a secured loan. And if your revenue is too high for a small business loan, you might qualify for a commercial loan from this bank.

What makes Fulton Bank business loans unique?

Fulton Bank's SBA loans are really what set it apart. In addition to the 7(a) and 504 loans that most SBA lenders offer, it also has less common programs that include the following:

  • SBA Small loans
  • SBA Express
  • Export Express
  • Export Working Capital
  • International trade
  • CAPlines

It also offers an online application for businesses that don't plan on backing the loan with collateral. Online applications have become increasingly common at regional banks since the coronavirus outbreak. But they still aren't standard.

Pros and cons

Weigh the benefits and drawbacks of a business loan from Fulton Bank before you apply.

Pros

  • Wide range of SBA programs, including International Trade and CAPlines
  • Online application for unsecured loans
  • Wide range of SBA

Cons

  • Little information available online
  • No online application for secured loans
  • Only available in Delaware, Maryland, New Jersey, Pennsylvania and Virginia

Compare other business loan options

Use the table below to see how other business loans stack up to Fulton Bank. Select the ranges for the loan amount you're looking for, time in business, annual revenue and personal credit score. Then click Show loans.

Data indicated here is updated regularly

Name Product Filter Values Loan amount APR Requirements
First Down Funding business loans
$5,000 – $300,000
Fee Based
At least 1 year in business, an annual revenue of $100,000+, and a minimum credit score of 400
Alternative financing up to $300K with highly competitive rates.
Lendio business loans
$500 – $5,000,000
Starting at 6%
Operate business in US or Canada, have a business bank account, 560+ personal credit score
Submit one simple application to potentially get offers from a network of over 300 legit business lenders.
ROK Financial business loans
$10,000 – $5,000,000
Varies
Eligibility criteria 3+ months in business, $15,000+ in monthly gross sales or $180,000+ in annual sales
A connection service for all types of businesses — even startups.
OnDeck small business loans
$5,000 – $250,000
As low as 9.99%
600+ personal credit score, 1 year in business, $100,000+ annual revenue
A leading online business lender offering flexible financing at competitive fixed rates.
Rapid Finance small business loans
$5,000 – $1,000,000
Fee based
Steady flow of credit card sales, bad credit OK
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Compare up to 4 providers

How do I apply?

If you want to apply for a secured loan — including SBA loans — you can get started on the application at your local branch. But if you want an unsecured loan, you can apply online by following these steps.

  1. Go to the Fulton Bank website and click Small business in the main menu.
  2. Under Borrowing, select Term loans.
  3. Click Apply for an unsecured term loan.
  4. Enter your name and email and hit Apply here.
  5. Check your email for a message from Fulton Bank validating your address.
  6. Copy the access code on the Fulton Bank website and paste it into the application form — you can access this with the Resume application button in the email. Hit Validate.
  7. Read and check the box agreeing to the electronic record and signature disclosure. Then click Continue.
  8. Follow the direction to fill out the application. Review your answers for mistakes, then hit Finish.

It's unclear how long it will take to hear back from Fulton Bank after you submit the application. It often takes a few days to receive a response from an online application for an unsecured business loan.

What documents do I need to apply?

The exact documents you'll need depends on your business and the type of loan you're applying for. You'll likely need to provide some or all of the following documents along with your application.

  • Personal and business tax forms from the past two years
  • Profit and loss statements
  • Balance sheets
  • Business plan

How do repayments work?

Most bank loans come with fixed monthly repayments. But you can find the specifics of your repayment plan in your loan documents. This includes how much you owe each month, when repayments start and how long they will last.

If you have any concerns about missing a repayment, reach out to your contact at Fulton Bank as soon as possible.

Visit our business loans guide to read about the other options available to you.

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