![]() While we are independent, the offers that appear on this site are from companies from which receives compensation. If you’ve decided Chase isn’t the best lender for you, these alternatives may suit your needs better.į is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. Chase business loan alternativesĬhase isn’t the only place to find a business loan. Reach out to a representative at your branch if you have any questions about the process. Bank loans can take a few days or even weeks to process applications - especially if you’re applying for a large loan. Submit all required documents to verify the information in your loan application.Ĭhase will review your application and contact you if there are any questions.Set up an appointment or drop by to get started on your application.Call to find out if your branch offers business loans and what rates and terms are available.Find your local branch by visiting the Chase website, clicking ATM & Branch in the top menu and entering your ZIP code.Generally, you need to follow these steps. You can only apply for a Chase business loan in person. Read our review of Chase business lines of credit You can use Chase trade financing to cover importation costs, collect money from overseas or give third parties the ability to use funds from your account.Ĭhase doesn't offer personal loans, but there are several Chase alternatives you might want to consider if you need funds to get a new business off the ground. Trade financing to help your business expand into global markets.Equipment financing to cover up to 100% of the cost of new equipment and up to 10% of the soft costs, including training, transportation and sales tax.Business credit cards for regular, ongoing expenses that don’t require large lines of credit.These are good for up to 80% of the loan-to-value ratio and have terms of seven or 10 years. Commercial real estate financing to buy, build or refinance real estate.These can be used for a variety of purposes and often come with lower interest rates than equivalent term loans. Small Business Administration (SBA) 7(a) or 504 loans are an option for small businesses that might not otherwise qualify for a Chase loan.Business lines of credit with credit limits starting at $10,000 and a five-year revolving term to fund working capital and ongoing expenses.In addition to its business term loans, Chase also offers: More financing options available through Chase But high-risk industries like insurance companies and casinos might have a harder time getting financing. What industries does Chase work with?Ĭhase doesn’t list any restricted industries. Typically, you need to submit business and personal tax returns, profit and loss statements, financial projections and a business plan to get a business loan from a bank. ![]() It depends on your business and its location. Use our calculator to get an idea of how much you’d pay each month and in total based on different rates and terms.īut like rates and fees the requirements can also vary depending on the branch. ![]() These typically run from 1% to 5% on other business loan products. Most also come with a closing or origination fee when you take out the loan. But costs, maximum loan amounts and other specifics vary depending on your branch, according to a Chase representative I spoke with in 2020.īank loans tend to be one of the least-expensive financing options, with interest rates that run from around 3% to 10% APR. Rates and fees vary by branch - but are likely lowĪll chase small business loans generally range from $5,000 to $500,000 with terms from 12 to 84 months. Instead, you may want to consider an online lender. But if you want to make a quick comparison or need funding fast, this might not be your best choice. But specifics like rates, fees and requirements can vary depending on your branch - if it even offers business loans at all.įor this reason, you’ll get a more accurate idea of what’s available to you by contacting your local branch directly. It’s one of the few big banks to offer loans as low as $5,000. ![]() All international money transfer servicesĬhase small business loans could be a good option if you’re a current Chase business customer looking to build your relationship.
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