Truist: A Business Bank With Online Lender Appeal
Truist offers a variety of business loans and the ability to apply online. But it’s not a fit for business owners seeking a large loan.
The bottom line:
Truist combines the competitive rates and terms of a traditional bank loan with the convenience of an online lender.
Loan details
Min. Loan Amount
$0
Min. Term Length
3 years
Min. APR
11.88%
Max Loan Amount
$100,000
Max Term Length
5 years
Max APR
16.67%
Qualifications
Min. credit score
700
Min. Time in Business
24 months
Pros & Cons
Pros
Variety of loan types available.
May be able to qualify for a loan with less than two years in business.
Can pay off your loan early without any prepayment penalties.
Cons
Low maximum loan amounts compared with other banks.
Business loans are only available in states where Truist operates a branch.
You have to visit a bank branch at some point during the application process.
Truist offers a variety of small-business loans , including term loans, lines of credit, equipment financing and commercial real estate loans.
Truist only lends to businesses located in the states where it has bank branches. It has branches in 17 states: Alabama, Arkansas, Florida, Georgia, Indiana, Kentucky, Maryland, Mississippi, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia and West Virginia, as well as Washington, D.C.
While you’ll need to visit a branch location to finalize your business loan, you can apply online for most loan types (something not all banks allow).
Loan amounts vary by type, but most max out at $250,000 or less. If you need more than that and your business generates over $2 million in annual revenue, you can visit a branch in person to apply for a commercial loan. Additionally, all SBA loan applications must be submitted in person.
Is Truist right for you?
| Consider Truist if you: | Skip Truist if you: |
|---|---|
| Don’t need a large loan. | Need a loan of more than $100,000. |
| Need to purchase equipment or vehicles. | Are applying for an SBA loan. |
| Prefer long repayment terms. |
How much do you need?
We’ll start with a brief questionnaire to better understand the unique needs of your business.
Once we uncover your personalized matches, our team will consult you on the process moving forward.
Types of Truist business loans
Truist offers several different types of business loans, including:
Truist business loan details
Here’s a snapshot of some of the features across Truist’s loans and lines of credit. NerdWallet gathered this information from the bank’s website and by speaking with a Truist representative.
Truist business loan and line of credit
| Simple Business Loan | Line of credit (LOC) | |
|---|---|---|
| Loan amount | Up to $100,000 for unsecured loan. Up to $250,000 for secured loan.* | Up to $100,000 for unsecured LOC. Up to $250,000 for secured LOC.* |
| Terms | 36, 48 or 60 months. | 12 to 36 months (revolving) for unsecured LOC. 12 to 60 months (revolving) for secured LOC. |
| Interest rates | 11.88% to 16.67% (fixed) for unsecured loan. 6.99% to 11.43% (fixed) for secured loan. | 13.69% to 19.58% (variable) for unsecured LOC. 9.05% to 14.29% (variable) for secured LOC. |
| Fees |
|
|
| Prepayment penalty | None. | None. |
| Time in business required | 2 years. However, you may be able to qualify for a smaller loan (up to $25,000) with a shorter business history, depending on your business’s revenue. | 2 years. However, you may qualify for a smaller loan with a shorter business history. |
| Repayment schedule | Monthly. | Monthly. |
| *If your business generates at least $2 million in annual revenue, you may be able to qualify for a commercial loan of more than $250,000. | ||
Truist business auto, equipment and real estate loans
| Business auto loan | Equipment loan | Commercial real estate loan | |
|---|---|---|---|
| Loan amount | Up to $250,000. | Up to $250,000.* | Up to $250,000.* |
| Terms | Up to 75 months. | Up to 7 years. | Up to 15 years. |
| Interest rates | Not disclosed. | Not disclosed. | Not disclosed. |
| Fees |
|
|
|
| Prepayment penalty | None. | None. | None. |
| Time in business required | 2 years. However, you might qualify for a smaller loan with a shorter business history. | 2 years. However, you might qualify for a smaller loan with a shorter business history. | 2 years. |
| Repayment schedule | Monthly. | Monthly. | Monthly. |
| *If your business generates at least $2 million in annual revenue, you may be able to qualify for a commercial loan of more than $250,000. | |||
Where Truist stands out
Robust loan offering
Truist offers a wide range of business financing options, from SBA loans and commercial real estate loans to lines of credit and term loans. This makes it easy to both find funding that fits your current needs and continue working with the same lender as your business grows and evolves. All Truist business loans also come with monthly repayment terms and no prepayment penalties, adding another layer of flexibility for business owners.
Customer support
Truist makes it easy to connect with a representative. You can schedule an in-person or virtual appointment through its simple-to-use scheduling service, or call its dedicated small-business line.
This Writer’s Take:
Knowledgeable, no-strings-attached customer service
When I called Truist’s customer service phone line, a representative answered in under a minute. Plus, there was no complex phone menu to navigate.
The rep stayed on the line with me long enough to answer more than a dozen of my questions for both the unsecured term loan and the line of credit. They were friendly, knowledgeable and didn’t ask me a ton of questions before entertaining mine. The rep willingly shared APR ranges — highly unusual for a lender to do, in my experience — for both secured and unsecured versions of the loans.
I rang the customer service line twice more on different days and times and was quickly connected to a human being each time. Each rep knew their stuff and was willing to spend time with me to answer my questions.
This bank lender stands out among many we’ve called as being surprisingly transparent.
Full financing for equipment and business auto loans
If you need to buy or upgrade commercial equipment or vehicles, Truist may offer full funding without a down payment. You might also qualify for up to an additional 10% of the loan amount to cover soft costs like delivery fees, taxes and add-ons.
Where Truist falls short
Low funding amounts
Some small-business owners may find Truist’s loan limits restrictive. For example, its standard commercial real estate loan tops out at $250,000, which may limit your options if you need a big space. That said, higher loan amounts may be available to qualifying businesses that generate at least $2 million in annual revenue.
Limited SBA loan activity
Although Truist is an SBA preferred lender , it has approved only 32 SBA 7(a) loans so far in fiscal year 2026 (which started on Oct. 1, 2025)
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Are you a current Truist customer?
Small-business owners with a Truist Dynamic Business Checking account may qualify for interest rate discounts. Read our review of Truist’s business checking.
» MORE: Truist Dynamic Business Checking
Alternatives to Truist
iBusiness Funding
iBusiness Funding
iBusiness Funding - Online term loan
NerdWallet Rating
4.0
Min Credit
660
Apply now with NerdWallet Small Business
Consider iBusiness Funding over Truist if you:
- Need a larger funding amount.
- Have a slightly lower credit score.
iBusiness Funding ’s unsecured term loan offers up to $500,000 in funding, making it a good alternative for business owners in need of larger loan amounts than what Truist’s Simple Business Loan can offer. The application and funding process is entirely online, and borrowers may have up to 60 months to repay their loan. However, borrowers should expect to pay higher interest rates compared to those offered by a Truist Simple Business Loan.
OnDeck
OnDeck
OnDeck - Line of credit
NerdWallet Rating
5.0
Min Credit
625
with NerdWallet Small Business
Consider OnDeck over Truist if you:
- Have only fair credit.
- Have been in business less than two years.
Like Truist, OnDeck ’s unsecured line of credit provides up to $200,000 in financing. However, business owners may be able to qualify for the full amount with as little as 12 months in business, making OnDeck’s line of credit slightly more accessible for newer businesses. Borrowers may receive funds as soon as the same day with OnDeck, but OnDeck’s interest rates are higher than Truist’s line of credit.
National Funding
National Funding
National Funding - Equipment financing
NerdWallet Rating
4.8
Min Credit
600
with NerdWallet Small Business
Consider National Funding over Truist if you:
- Have a low credit score.
- Are newly operational (min. 6 months).
- Have high annual revenue.
National Funding ’s equipment loan requires just 6 months in business and can fund as fast as the next business day, making it a good alternative for startups in need of new or used equipment. However, loans are capped at $150,000 and borrowers have a maximum of 60 months to pay it back. In contrast, Truist’s equipment loan offers a higher borrowing limit with repayment terms extending up to 84 months.