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Wells Fargo business loans review

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If you need a loan to grow or expand your business, Wells Fargo can help.’s rating: 3.88 / 5.0


Running a business is no easy task. Whether you’re laying the groundwork or ready to upgrade equipment, Wells Fargo offers loan solutions with no annual fees and no prepayment penalties to fit your needs.


Min. Amount


Max. Amount


Product NameWells Fargo Business Loans
Min. Amount$10,000
Max. Amount$100,000
Loan Term1 to 5 years
APR6.25% to 22.99%

What are Wells Fargo business loans?

Wells Fargo offers two kinds of unsecured business loans, and one for equipment purchases. All three loan types have varying APRs, loan amounts and terms. You can apply for both secured and unsecured personal loans with Wells Fargo. Secured loans require collateral, but generally attract lower interest rates than unsecured loans. Collateral can be anything from specialty equipment from your business to new or used vehicles.

If you don’t have collateral, you can still receive a discount if you have an existing relationship with Wells Fargo. All loans offer APRs based on your credit application. They take into account your credit history, the amount you request and repayment terms. In the case of the equipment loan, they also account for any collateral you provide.

What types of business financing does Wells Fargo offer?

  • Unsecured term loan. Receive a lump sum of up to $100,000 for things like planned purchases or expansion costs.
  • Line of credit (secured and unsecured). Use a revolving line of credit of to fund ongoing business expenses. Credit limits range from $5,000 to $100,000.
  • Equipment loan. Finance the purchase of business equipment for up to $100,000.
  • SBA loans. Get a fixed-term loan backed by the Small Business Administration for as much as $6.5 million.

Compare business loan offers from other lenders

Data indicated here is updated regularly
Name Product Filter Values Loan amount APR Requirements
First Down Funding business loans
$4,000 – $300,000
5.49% to 22.79%
At least 1 year in business, an annual revenue of $100,000+, and a minimum credit score of 300
Alternative financing up to $300K with highly competitive rates.
Lendio business loan marketplace
$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 75 legit business lenders.
$2,500 – $5,000,000
7% to 30%
$300,000+ of annual revenue, 680+ personal credit score, in business for 3+ years
Get connected with short-term funding, SBA loans, lines of credit and more.
Kickpay e-commerce loans
$20,000 – $1,000,000
Not applicable
At least $250,000 in the past 12 months of revenue, e-commerce business, use a 3rd party fulfillment center for storing and shipping inventory, at least one US location.
Get a loan for your e-commerce business based on your sales history.
Credibly Business Loans
$5,000 – $250,000
6+ months in business, $180K annual business revenue, 500+ credit $15K+ in monthly deposits
Funding to cover business expenses with daily or weekly repayments.
$30,000 – $5,000,000
4.75% to 7.00%
650+ personal credit score, US citizen or permanent resident, 2+ years in business, $50,000+ annual revenue, no outstanding tax liens, no bankruptcies or foreclosures in past 3 years
Get funding for your small business with a government-backed loan and extended repayment terms.
LendingClub small business loans
$5,000 – $500,000
9.77% to 35.98%
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
With loan terms that vary from 1 to 5 years, enjoy fixed monthly payments and no prepayment penalties through this award-winning lender.
Monevo Business Loans
$500 – $100,000
3.99% to 35.99%
Credit score of 500+, legal US resident and ages 18+.
Use this connection service to get paired with a loan you can use for business.

Compare up to 4 providers

How can I benefit from a Wells Fargo business loan?

Wells Fargo business loans offer a number of features for your consideration.

  • Minimal fees. You’ll pay a $150 opening fee, but no annual or prepayment fees. The opening fee may be waived if you have a qualifying business account with Wells Fargo.
  • Customer discounts. If you set up automatic payments on an Equipment Express Loan, you can earn a 0.25% rate discount on your APR.
  • Multiple purchases. Any of the three loans allow you the freedom to make multiple purchases. The Equipment Express Loan has a minimum invoice amount of $5,000 and is limited to approved equipment and vehicles. Unsecured loans can be used for almost any legitimate business purpose.

What to watch out for

  • Online application limits. You must be a Wells Fargo customer who’s held a savings or checking account for at least one year to apply for any of the three business loans online. You do not need to have an existing relationship with Wells Fargo to apply in person.
  • Collateral limitations. While business equipment and vehicles can be used as collateral, new and used personal computers are not eligible. That limitation carries to software and other computer accessories.
  • Required automatic payments. You’ll need to set up automatic deductions for any FastFlex Small Business Loan. If you cancel automatic payments at any point, Wells Fargo will consider that you’ve defaulted on the loan, with any remaining amount due immediately.

Am I eligible for a business loan with Wells Fargo?

Taking out a loan in any form is a big financial decision. Once you’re sure that your business is ready, you’ll need to meet basic eligibility criteria.

  • You must have good to excellent credit.
  • You must be at least 18 years old.
  • You must be an American citizen or a permanent resident of the US.
  • You must own a business with a business tax ID or Social Security number.

What information do I need to apply?

Make sure that you have the following for your business:

  • Your legal business name, date of establishment and ownership type.
  • Your tax ID or Social Security number, address and phone number.
  • The number of business owners.
  • Your gross annual revenue.

Each applicant must also provide:

  • Percentage of ownership.
  • Name, date of birth and Social Security number.
  • Home address, email and phone number.
  • Gross annual income.
  • Personal checking and saving account numbers and balances.

Note that each owner with 25% or more interest in the business must be listed as a guarantor on the application.

I have a business loan from Wells Fargo. Now what?

Now that you’ve figured out the loan you need, keep your credit in good standing.

  • Equipment Express Loans require approval on purchases, so call Wells Fargo’s specialty line about equipment financing before you buy.
  • If you have a FastFlex Small Business Loan, make sure you have money in your account each week for automatic payments. Remember that missing payments can be considered a default on the loan.

Bottom line

A business loan from Wells Fargo can help your business, whether it’s established or just starting out. Be sure to evaluate which loan suits the needs of your business. Consider comparing other business loan lenders to make an informed decision.

Have some more questions about Wells Fargo business loans?

Business loan ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We rate business loan providers on a scale of 1 to 5 stars based on factors like transparency, costs and customer experience. We don’t take into account elements like eligibility criteria, state availability or payment frequency — we save that for our reviews.

Read the full methodology of how we rate business loan providers to get a better picture of what goes into each star rating.

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