Chase business loans review
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Pros and cons of Chase Bank business loans
Pros
- SBA preferred lender
- No origination fee for term loans
- Nearly 5,000 branches nationwide
- Good customer satisfaction ratings
- Relationship rate discounts may be available for existing Chase Bank customers
Cons
- May need to apply in person
- Website lacks information about rates and eligibility requirements
- Loans over $250,000 have prepayment penalties
- Loans not available in Alaska or Hawaii
Chase Bank business loans review
Chase Bank’s main benefit is that it’s a trusted, well-established financial institution. It recently ranked third in the nation for small business banking customer satisfaction with J.D. Power. For small businesses looking for financing, Chase Bank offers a variety of lending options, including term loans, lines of credit, SBA loans and commercial real estate financing to cater to businesses of different sizes and various stages of growth.
Another factor that sets Chase Bank apart is its accessibility. With branches in 48 states, borrowers can access in-person assistance, which is particularly valuable for business owners who prefer face-to-face interactions.
- You’re an existing customer. Chase Bank advertises potential rate discounts for existing customers, so if you already have a business bank account with the bank, you could score a more affordable loan.
- You want convenient branch access. Chase Bank has one of the largest branch networks in the country, meaning you’re never far from a real-life banker — which is good because you may need to apply for a business loan in person.
- You want to apply for an SBA loan. Chase Bank is an SBA-preferred lender, meaning it may be able to make a decision on your loan faster than the average SBA lender.
Chase Bank business loans at a glance
| Product | Loan amounts | Repayment term | Estimated interest rate | Fees |
|---|---|---|---|---|
| Term loans | $5,000 to $500,000
Amounts over $500,000 may be available to some customers
| Typically up to 60 months | Not specified | Prepayment penalty for loans over $250,000 |
| Business line of credit | $10,000 to $500,000 | 60
You can access funds for 60 months. At the end of the term, you’ll have another 60 months to repay any remaining balance
| Not specified | Annual fee of 0.25% of your approved credit limit or $200, whichever is higher, up to a $750 maximum |
| Commercial line of credit | $500,000 and up | 24-month term with balance due in full at maturity | Not specified | Origination fee of 0.15% of the line amount ($3,000 max) |
| SBA 7(a) loans | Up to $5,000,000 | Up to 300 months | Capped at 13.25% for variable-rate loans
Based on the current prime rate of 6.75%
| Fees vary, subject to SBA maximums |
| SBA 504 loans | Not disclosed | Up to 300 months | Pegged to an amount above the current rate for 10-year U.S. Treasury notes | Fees vary and are subject to SBA maximums, but an origination fee may apply to Chase’s portion of the loan |
| Commercial real estate loans | Starting at $50,000 | Up to 300 months | Not specified | Prepayment penalty for loans over $250,000 |
Business term loans
Chase Bank offers three different options for business term loans:
- Standard business term loan: Offers a lump-sum disbursement and a set payback period, similar to what you’d find with any other small business lender.
- Draw loan: Operates like a business line of credit, with a one-year draw period.
- Advised line: Allows you to be pre-approved for a set amount and draw against it as needed for up to a year.
Business line of credit
Chase Bank offers a business line of credit for amounts between $10,000 to $500,000.
The line of credit will have a five-year draw period, during which your minimum monthly payments will be 1% of your outstanding balance, plus accrued interest. After that, there is a five-year repayment period.
There is also an annual fee with this line of credit. You’ll be charged 0.25% of your approved credit limit or $200, whichever is higher, up to a $750 maximum. However, you can waive the fee after the first year if you use at least 40% of your available credit over an average of 12 months.
Commercial line of credit
If you need to borrow more than $500,000, Chase Bank also offers a commercial line of credit.
This product comes with a two-year revolving term, with the balance due in full at maturity. It also has an origination fee of 0.15% of the line amount. The maximum you’ll pay is $3,000.
SBA 7(a) loans
The popular SBA 7(a) loan program is a great choice for most business needs, such as working capital, upgrading equipment and even purchasing or upgrading real estate.
Chase Bank offers standard SBA 7(a) loans up to $5,000,000 and SBA Express loans for amounts under $500,000 under this program.
Chase Bank is part of the SBA’s Preferred Lender Program, which means they can offer SBA loans with a quicker-than-usual turnaround — but SBA loans can still take longer to fund than non-SBA loans.
SBA 504/CDC loans
Chase Bank offers SBA 504 loans, which you can use to make major business investments, like buying real estate or expensive equipment.
The bank doesn’t disclose how much it will fund for these loans, but it considers requests on a per-project basis.
You can finance up to 90% of the project cost, meaning a 10% down payment will be required.
Commercial real estate loans
Aside from SBA loans, you can also use a Chase Bank loan to purchase real estate for your business. The bank also offers conventional commercial loans.
These loans are specifically for owner-occupied businesses, so businesses like franchise locations generally won’t be eligible.
It offers these loans to help you build or purchase a new property, as well as to refinance an existing commercial mortgage. In addition, Chase Bank may allow down payments as low as 10% for some loans.
Chase Bank business loan borrower requirements
| Minimum annual revenue | Not disclosed |
| Minimum time in business | 24 months
It may be possible in certain situations for businesses under two years to qualify for loans over $500,000
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| Minimum credit score | Not disclosed |
It’s common for lenders to be a little hush-hush about the specific business loan eligibility requirements. Even so, Chase Bank provides very little.
However, the bank does disclose that it considers your credit report, payment history and debt-to-credit ratio when making its lending decisions, in addition to requiring a two-year operating history in most cases.
Still, since that isn’t concrete information, it’s a good idea to talk to a banker before you apply for a loan. Plus, if you decide to move forward with them, read your business loan agreement carefully before signing on the dotted line.
Required documents
Oddly, Chase Bank only discloses the required documents for its business and commercial lines of credit. That said, these documents are typically required for most small business loans, so if you can pull them together, you’ll likely be off to a good start.
Here’s what you’ll need:
- Taxpayer ID or Social Security number
- Evidence of good standing with your state’s Secretary of State
- Most recent year’s business financials, like an income statement and balance sheet
- Number of workers, including employees and active contract workers
- Articles of Incorporation or Articles of Organization
- Tax transcripts, including 4506-C or 8821
- Business tax return and personal tax return
Alternatives to Chase Bank business loans
| Chase Bank | U.S. Bank | Bank of America | |
|---|---|---|---|
| Minimum credit score | Not specified | Not specified | 700 for unsecured lines of credit and term loans; not specified for other products |
| Loan products offered |
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| Time to funding | Not specified | Not specified | Not specified |
| Starting interest rate | Not specified | 7.49% for secured Quick Loans Not specified for other products |
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| Maximum loan size | $5,000,000+ | $12,375,000 | $5,000,000 |
| Minimum annual revenue | Not specified | Not specified | Varies by product |
Chase Bank business loans vs. U.S. Bank
U.S. Bank is the fifth-largest bank in the country and offers similar small business financing options as Chase Bank. Compared with Chase Bank, it offers the added advantage of offering “Quick Loans,” which are smaller loans for up to $250,000 that can be approved more quickly than their standard small business loan.
Unfortunately, U.S. Bank only offers branches in 26 states — roughly half compared to those with a Chase Bank presence — so it might not be an option depending on where you live.
Chase Bank vs. Bank of America
As the second-largest bank in the country, Bank of America offers many of the same financing options as Chase Bank, albeit with a few more variations, including equipment loans and commercial auto loans.
Bank of America is a bit more transparent about rates than Chase Bank. However, it does charge an origination fee on its term loans; Chase Bank does not. Finally, Chase Bank scored higher than Bank of America in J.D. Power’s 2025 U.S. Small Business Banking Satisfaction Study, meaning you may get better customer service with .
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