We offer a variety of financing options for your business to purchase inventory and materials, refinance debt or finance account receivables.
An unsecured line of credit with no collateral
Use whenever funds are needed
Competitive interest rates
Monthly payments based on your balance
A line of credit with a security deposit
Establish your business credit
Build a path towards unsecured credit
Use whenever you need funds
Monthly payments based on your balance
An unsecured term loan with no collateral
Receive funds as a one-time lump sum
Competitive interest rates
Fixed payments over the life of the loan
Business Needs Establish your business credit. Build a path towards unsecured credit options. Use whenever you need funds.
Business Needs Receive funds as a one-time lump sum. Competitive interest rates. Security deposit required Security deposit required No Security deposit required Yes Security deposit required No Minimum years in business Minimum years in business 2 Years Minimum years in business 6 Months Minimum years in business 2 Years Minimum sales revenue Minimum sales revenue $100,000 in prior year annual gross sales Minimum sales revenue $50,000 in annualized revenue Minimum sales revenue $100,000 in prior year annual gross sales Receive funds Receive funds When needed Receive funds When needed Receive funds One-time lump sum Interest is paid Interest is paid Only on the outstanding balance Interest is paid Only on the outstanding balance Interest is paid Only on the outstanding balance Payments Monthly payments based on your balance Payments Monthly payments based on your balance Payments Fixed equal monthly payments based on your loan amount and term Graduation path to unsecured option Graduation path to unsecured option N/A Graduation path to unsecured option Yes Graduation path to unsecured option N/APurchase or refinance the cars, vans and light trucks that help keep your business moving.
Vehicle financing made easy with competitive rates and flexible terms.
We'll help you get the financing you need with fast loan processing times and flexible terms.
Purchase the land or buildings your business needs as it grows. Leverage your equity and invest in your business.
Loan amount: From $25,000
Interest rate: As low as 6.50% Disclosure2 † Fixed rates
Loan terms: Up to 10 years (with balloon payment); Up to 15 years (with full amortization)
Qualifications: Minimum 2 years in business under existing ownership; minimum $250,000 in annual revenue
Equip your business with the tools and machinery it needs to get work done.
Loan amount: From $25,000
Interest rate: As low as 7.25% Disclosure2 † Fixed rates
Loan terms: Up to 5 years (when secured by business assets)
Qualifications: Minimum 2 years in business under existing ownership; minimum $250,000 in annual revenue
Support ongoing operational expenses with a line of credit typically secured by a blanket lien on your assets or a certificate of deposit.
Loan amount: From $25,000
Interest rate: As low as 9.50% Disclosure2 † Fixed rates
Loan terms: revolving with annual renewal
Qualifications: Minimum 2 years in business under existing ownership; minimum $250,000 in annual revenue
Expand your business or refinance debt with a loan secured by your choice of collateral.
Loan amount: From $25,000
Interest rate: As low as 7.25% Disclosure2 † Fixed rates
Loan terms: up to 4 years (when secured by business assets); up to 5 years (when secured by CDs)
Qualifications: Minimum 2 years in business under existing ownership; minimum $250,000 in annual revenue
Start or grow your practice with loans for healthcare practices.
Small Business Administration (SBA) loans offer easier qualification, longer loan terms and lower down payments. As a Preferred SBA Lender, we can show you how to put SBA programs to work for your business.
† Important rate and payment informationAdvertised as low as rate is effective as of May 31 st , 2024 and is subject to change. Your actual interest rate may differ based on your creditworthiness, overall business relationship with Bank of America and line amount. Subject to credit approval; some restrictions may apply.
† Important rate and payment informationAdvertised as low as rate is effective as of May 31 st , 2024 and is subject to change. Your actual interest rate may differ based on your creditworthiness, overall business relationship with Bank of America and line amount. Subject to credit approval; some restrictions may apply.
Expand this section to learn more about how to apply and the information you’ll need for your application.
How to apply for small business financing:Explore financing options and cash flow strategies on the Center for Business Empowerment.
View your business credit scores adatext for free, powered by Dun and Bradstreet.
Pay less interest as a Preferred Rewards for Business member.
Important Disclosures and Information
Small Business Administration (SBA) collateral and documentation requirements are subject to SBA guidelines.
You must be 18 years old or otherwise have the ability to legally contract for automotive financing in your state of residence, and either a U.S. citizen or resident alien (permanent or non-permanent).
Bank of America and the Bank of America logo are registered trademarks of Bank of America Corporation.
Small Business Administration (SBA) financing is subject to approval through the SBA 504 and SBA 7(a) programs. Loan terms, collateral and documentation requirements apply. Actual amortization, rate and extension of credit are subject to necessary credit approval. Bank of America credit standards and documentation requirements apply. Some restrictions may apply.
Investment and insurance products:
Banking products are provided by Bank of America, N.A. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation.
MLPF&S is a registered broker-dealer, member SIPC layer and a wholly owned subsidiary of Bank of America Corporation