9 Best Banks for Small-Business Loans in 2025
Business bank loans offer low interest rates and competitive repayment terms, but you’ll typically need strong credit and an established business to qualify.
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Although qualifying can be difficult, banks remain the most common source of financing for small businesses — compared with options such as online lenders, community financial institutions and credit unions.
Bank loans for businesses offer low interest rates, long repayment terms and can be used for a variety of purposes. The right bank for you should offer the small-business loan you need, as well as fund enough loans to make financing possible.
Here, we reviewed the best banks for small-business loans based on their commercial and industrial lending volume, product offerings and qualifications, among other features.
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Best banks for business loans
Click on a provider to jump to details about its business loan offerings, or keep reading to learn about how to get business financing from banks, as well as alternative funding options.
Compare the best banks for business loans
Bank | Notable feature | Loan amounts | Branch locations |
|---|---|---|---|
Bank of America | Reward programs. | $1,000 - $5 million | All U.S. states. |
Wells Fargo | Active SBA lender. | $5,000 - $5 million | AL, AK, AR, AZ, CA, CO, CT, DE, FL, GA, ID, IL, IA, KS, KY, MD, MN, MS, MT, NE, NV, NJ, NM, NY, NC, ND, OR, PA, SC, SD, TX, UT, VA, WA, WI and WY, plus D.C. |
JP Morgan Chase | Range of products for small businesses. | $5,000 - $5 million | U.S. states, except Hawaii and Alaska. |
Citibank | In-person service. | $5,000 - $10 million | Six metropolitan areas: Chicago, D.C., Los Angeles, Miami, New York City, San Francisco. |
PNC Bank | Automatic loan payments. | $10,000 - $5 million | AL, AZ, CA, CO, DE, FL, GA, IL, IN, KS, KY, MA, MD, MI, MO, NC, NJ, NM, NY, OH, PA, SC, TN, TX, VA, WI, WV, plus D.C. |
U.S. Bank | Friendly to new businesses. | $5,000 - $5 million | AR, AZ, CA, CO, IA, ID, IL, IN, KS, KY, MN, MO, MT, NC, ND, NE, NM, NV, OH, OR, SD, TN, TX, UT, WA, WI and WY. |
Truist Bank | Online applications for financing under $250,000. | Up to $5 million | AL, AR, FL, GA, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA, WV, plus D.C. |
Capital One | Large lines of credit up to $5 million. | $10,000 - $5 million | CA, GA, IL, MA, NY, PA TX, VA. |
Citizens Bank | Fast approval process for financing up to $250,000. | Up to $5 million | CT, DE, FL, MD, MA, MI, NH, NJ, NY, OH, PA, RI, VT, VA, plus D.C. |
1. Bank of America
Bank of America is the biggest commercial and industrial loan bank lender in the U.S. — according to data compiled by S&P Global in February 2024 — surpassing the next closest lender by more than $100 billion . It operates in all U.S. States.
May be a fit for: Bank of America business loans are a good choice if you value rewards and use other Bank of America or Merrill products. By meeting certain account requirements, you can qualify for interest rate discounts, no fees on wire transfers and other benefits. Bank of America may also make sense for business loans for veterans and service members, as it offers them a 25% discount on loan administration or origination fees.
Here’s what Bank of America has to offer:
Read our full review of Bank of America business loans.
2. Wells Fargo
Wells Fargo comes in second when ranked on commercial and industrial loans and offers a variety of small-business loans. It operates in 36 states plus Washington, D.C.
May be a fit for: Wells Fargo is a solid option for those interested in SBA financing. It partners with the SBA to offer both SBA 7(a) and 504 loans. And if an SBA loan isn’t the right fit, Wells Fargo can help you explore a number of other types of lines of credit and business loans. However, some term loan programs have been discontinued so you may want to consider other options if a term loan is what you want.
Here are Wells Fargo's business loan offerings:
Read our full Wells Fargo business loans review.
» MORE: Compare the best SBA lenders
3. JP Morgan Chase
Chase ranks as the third-largest U.S. bank by commercial loan amount. It operates in 48 U.S. states, but doesn’t offer business loans in Hawaii and Alaska.
May be a fit for: Chase business loans are a good option for business owners who want access to a range of business products, including small-business loans, lines of credit and commercial real estate loans, as well as business banking, credit cards and payment solutions from a single provider. With loan amounts ranging from $5,000 to $5 million, it offers financing that can grow as your business grows.
Chase business loans include:
Read our full Chase business loans review.
4. Citibank
Although Citibank is the fourth-largest bank in the U.S. based on commercial loan volume, it offers fewer business loan products than some other banks. Its branches are concentrated in six metropolitan areas: Chicago, Los Angeles, Miami, New York, San Francisco and Washington, D.C.
May be a fit for: The in-person, hands-on loan application experience offered by Citi might be the right option for business owners who feel developing a relationship with their banker today will offer benefits down the road. Whereas many banks offer at least some type of online application option, you can only apply for a business loan from Citi by visiting a branch location.
Here are Citi’s loan options:
5. PNC Bank
PNC Bank ranks fifth among U.S. banks with regard to commercial loan volume. It operates branches in 28 states — Alabama, Arizona, California, Colorado, Delaware, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Jersey, New Mexico, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia and Wisconsin — as well as Washington, D.C.
May be a fit for: PNC Bank is a good choice for business owners who prefer automatic loan payments as well as mobile banking and cash flow tools. Whether you have a business term loan, line of credit or specialized financing for a vehicle, payments can automatically be deducted from your PNC business checking account.
PNC business loans include:
Read our full PNC Bank business loans review.
6. U.S. Bank
U.S. Bank is ranked sixth for commercial loans. It has fewer locations than other brick-and-mortar banks, including Chase and Wells Fargo, but it still offers the variety of products you’d expect from a large lender.
May be a fit for: U.S. Bank may be a good choice for startups, as you may be able to qualify for certain products with less than a year in business. Its Quick Loan can have a minimum time in business requirement of six months, depending on the length of your relationship with the bank and the state you live in.
Here's what U.S. Bank has to offer:
7. Truist Bank
Truist Bank is ranked seventh for commercial loans. It has branches in 17 states including Alabama, Arkansas, Florida, Georgia, Indiana, Kentucky, Maryland, Missouri, North Carolina, New Jersey, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia and West Virginia , along with D.C.
May be a fit for: Truist Bank is a good choice for business borrowers who want the convenience of applying for funding at a time and place of their choosing. They’ll find an online application available for various financing options up to $250,000. However, business owners who want a loan for more than that amount will have to apply for commercial financing by speaking with a bank representative or visiting a branch in person.
Here’s what Truist Bank has to offer:
Read our full Truist business loans review.
8. Capital One
Capital One, which has made a name for itself in the credit card industry, also offers business financing with locations in eight states: California, Georgia, Illinois, Massachusetts, New York, Texas, Pennsylvania and Virginia.
May be a fit for: Capital One is a good option for business owners who want the ability to access a large amount of funding, but on their own timetable. Business lines of credit that top out at $5 million are offered. Also, discounted rates are available to businesses that have existing business deposit relationships with Capital One.
Capital One loan options include:
Read our full Capital One business loan review.
9. Citizens Bank
Citizens Bank currently has branches in 14 states: Connecticut, Delaware, Florida, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia, and also D.C.
May be a fit for: For business entrepreneurs who want fast loan funding, Citizens Bank says borrowers can get a small-business loan or line of credit of up to $250,000 within three business days.
Here are loan options offered by Citizens Bank:
Can't qualify for a bank business loan?
If you think you’ll qualify for an SBA loan, start by looking for the best SBA lenders that work for your business.
If you are facing personal credit challenges, look for business loans for bad credit — either through online lenders, CDFIs or microlenders.
If you need funding fast, consider these fast business loans to get capital as quickly as the same day you apply.
How to get a business loan from a bank
Although recent market conditions have led banks to tighten their lending standards, it’s still possible to access this type of business financing. Here’s what you need to get business loan from a bank:
An existing relationship
Most banks require you to have at least a business checking account at their institution. While you can simply open an account at some banks to meet this qualification, you can often benefit from a longer-term relationship. For example, you need an account with Wells Fargo for at least one year to apply for financing online.
Good credit
You’ll likely need a personal credit score in the 700s — although some lenders may be a little more flexible than others. Wells Fargo, for instance, accepts a minimum credit score of 680 for its unsecured line of credit.
Potential deal-breakers in your personal credit history could include too much debt, too many open accounts or negative marks — like late payments, loan defaults and bankruptcies. The bank will check your business credit score for similar red flags.
Strong revenue
When you apply for a small-business loan, the bank will look to see whether your business is in good shape and has enough revenue to support how much you want to borrow. For example, Bank of America’s unsecured business loans require at least $100,000 in annual revenue; its secured options increase that number to $250,000.
Enough time in business
Two years under the same ownership is the standard time in business requirement. But there are exceptions. For example, some U.S. Bank lending products are available if you’ve been in business for just six months.
Collateral
You don’t necessarily need to put up business collateral like commercial property or equipment to get a bank loan for your business. Some banks offer both unsecured and secured business loans. But the bank may fund larger amounts for secured loans, while also providing longer terms and lower interest rates to make payments more affordable.
» RELATED: Best business auto loans
Pros and cons of bank loans for business owners
Pros
Cons
Alternatives to big bank business loans
If you can’t get a business loan from a big bank, consider these alternatives:
Small banks and credit unions: Business loan applicants report higher approval rates from smaller banks than big-name financial institutions, as well as greater overall satisfaction, according to the Federal Reserve’s 2024 Report on Employer Firms. However, a local bank or credit union may lack the benefits you want — like online loan management or multiple locations.
Online lenders: Online business loans come with faster funding and higher approval rates than bank loans. Some online lenders even specialize in small-business loans. For example, so far in fiscal year 2025, Newtek Bank, a digital bank, is the third-most active SBA 7(a) lender by loan approval amount. These lenders are also less likely to require traditional collateral and may provide funding for newer businesses. But the trade-off will likely be higher costs than a traditional bank offers.
Microlenders: Nonprofit organizations offer microloans, and these can be a good choice for startups or small businesses that need working capital but can’t qualify for a bank business loan. Microloans are typically less than $50,000 and can come with short repayment terms. Their costs may also be higher than a bank business loan.
» RELATED: Easy business loans
NerdWallet assigning editor Ryan Lane contributed to this article.