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Tab Bank business loans review

Financing up to $350,000 with competitive rates for small and midsize businesses.

  • Best for business owners with at least fair credit looking for competitive rates.
  • Pick something else if you’ve been around for less than two years.
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Min. Amount$30,000
Max. Amount$350,000
Min. Credit Score640
APR2.75% to 3.75%
Requirements640+ credit score, 2+ years in business, US-based business owned by a US citizen, ages 21+, no unpaid tax liens, no foreclosures or bankruptcies in the past 3 years, no recent settlements or charge-offs, up-to-date on government-related loans

First, do I qualify?

To qualify for a business loan from Tab Bank, you need to meet the following criteria at a minimum:

  • At least two years in business
  • US-based business owned by a US citizen
  • At least 21 years old
  • Personal credit score of 640 or higher
  • No unpaid tax liens
  • No foreclosures or bankruptcies in the past three years
  • No recent settlements or charge-offs
  • Up-to-date on government-related loans

Although you may qualify for a loan with fair credit, you’ll likely qualify for a larger variety of SMB loans with good to excellent credit.

What makes Tab Bank business loans unique?

Tab Bank partners with SmartBiz — a packaging and referral agent — to offer small- and medium-sized business loans that you can prequalify for in just minutes. While SmartBiz underwrites the loans, Tab Bank provides the financing. It stands out thanks to its competitive interest rates that are capped well below where many business loan providers’ rates start.


  • Variety of loan options. Tab Bank offers SMB loans, accounts receivable financing, asset-based loans, equipment financing, term loans and invoice factoring.
  • Lower rates and longer terms. Generally, SMB loans at Tab Bank offer lower rates than competitors out there. On top of that, it also has long 10-year terms with no prepayment penalties.
  • Quick prequalification process. Fill out an online prequalification form on the Tab Bank site and in five minutes you’ll see how much you qualify for, with no impact on your credit score.


  • Multiple fees. Loans have closing costs, a one-time referral fee and a one-time packaging fee.
  • Longer turnaround. Although you can prequalify in five minutes, getting your funds may take longer than with many other online lenders that can get you money the next day.
  • Collateral required. If you apply for a loan of more than $25,000, a lien on your business assets is required. This may include inventory, accounts receivables or fixed assets, like new equipment purchased with your loan.

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How do I apply?

When you fill out the prequalification application found on the Tab Bank site, you’ll be redirected to the SmartBiz site, where you will have to answer several questions. Follow these steps to get started:

  1. Go to Tab Bank’s website and click Business in the main navigation menu.
  2. Click Business Lending, then select the type of business loan you’re interested in.
  3. Click Get Pre-Qualified to be redirected to SmartBiz.
  4. Select how you want to use your loan funds and the type of loan you’re interested in.
  5. Enter how much you want to borrow.
  6. Provide your contact information and business name.
  7. Click Continue to prequalify.
  8. Enter how soon you need your funding and answer questions about your business.
  9. Click Prequalify.

SmartBiz then does a soft credit check before showing how much your business qualifies for and from which financial institutions. At this point, you might have the choice of returning to Tab Bank for funding.

What documents do I need to apply?

While you don’t need any documents to prequalify, Tab Bank doesn’t disclose which documents you need when actually applying for a loan.

  • In general, most business loan providers ask to see:
  • Driver’s licenses of all owners
  • Proof of income, like your business bank statements
  • Business financial documents, like a profit and loss statement and balance sheet
  • Previous year’s tax returns

How do repayments work?

Tab Bank doesn’t disclose repayment options. However, it does say it will customize flexible loan terms and monthly repayment plans up to 10 years that make it practical to pay back the loan. Repayment terms are determined by the size and type of loan, mainly because each business and each business loan is so different.

Not sure about Tab Bank? Compare your other options with our guide to business loansOr find out how much you can afford to borrow with our business loan calculator.


Review by

Kathryn Pomroy was a writer for Finder, specializing in loans. She has written for dozens of major publications, small businesses and many well-known personal finance companies, including LendingTree, Money Crashers, Quickbooks/Intuit, BankRate, LendEDU and more. Kathryn holds a BA in Journalism and drinks super bold coffee while eating peanut butter and honey toast.

Expert review

Tab Bank, in partnership with the SmartBiz marketplace, offers small- to medium-sized business (SMB) loans to borrowers with fair to excellent credit. You only need to have a personal credit score of 640 to qualify. And its rates are competitive — stopping where many other lenders’ rates start. You also have the option to prequalify in just minutes without affecting your credit score.

But its loans come with quite a few fees, including a one-time referral fee, packaging fee and closing costs. And it’s not ideal for startups — your business needs to be around for at least two years to qualify.

Not sure Tab Bank is right for you? Compare other business loan providers below.

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