Where does Byline Bank do business?
Byline Bank is a bank based in Chicago, IL. It was founded in 1978 and offers access to business loans in 9 states across the USA..
Does Byline Bank charge an origination fee?
Yes, Byline Bank charges a loan origination fee.
What limitations does Byline Bank set on the purpose of the loan?
Some lenders only provide business loans for certain purposes. Byline Bank offers considers loan applications for the following reasons:
- Equipment purchase
- New location
- Product or service expansion
- Working capital
What types of business loans does Byline Bank offer?
Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Byline Bank provides access to the following business loan types:
- Unsecured term loans
- Secured term loans
- SBA loans
Does Byline Bank charge a late fee?
No, Byline Bank will not charge you a late fee. Yes, Byline Bank charges borrowers with a late payment fee.
Does Byline Bank charge prepayment fees?
Yes, Byline Bank charges additional fees to borrowers who pay off their loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a loan early.
What is the maximum loan term you can get with Byline Bank?
Byline Bank offers business loans with terms ranging from 12 to 120 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
What do you need to qualify for a loan with Byline Bank?
Byline Bank doesn’t disclose its credit score minimum.
Byline Bank does not require borrowers to have been in business for a minimum number of years. Active duty servicemembers and their covered dependents are eligible to apply for a loan via Byline Bank. Its rates and terms fall within the limits of The Military Lending Act.
Only U.S. citizens and permanent residents can apply for a loan.
BYLINE BANK Disclosure: Byline Bank is one of the Top 10 SBA lenders in the country and is a recognized “Preferred Lender” from the SBA, so we offer a quicker, more streamlined process. At Byline Small Business Capital, our focus is government-guaranteed lending. We provide nationwide coverage with loan production offices throughout the Midwest and in Southern California.
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180 N LaSalle St
Chicago, IL 60601 USA
- Visit Site
- Active Duty Military
- Military Dependent
- U.S. Citizen
- U.S. Permanent Resident
- Employed Full-Time
- Employed Part-Time