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 7 states across the USA.
What are Byline Bank’s rates?
Byline Bank offers business loans with fixed APRs starting from 0% to 99%.
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?
Byline Bank considers loan applications for business purposes, such as:
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
- Lines of Credit
- SBA Loans
- Commercial Real Estate
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 300 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.
Only U.S. citizens and permanent residents can apply for a loan Byline Bank only considers borrowers who are employed or self-employed. To qualify, applicants may need to provide the following documentation:
- Proof of Identity
- Proof of Income
180 N LaSalle St
Chicago, IL 60601 USA
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|Immigration Status Considered||
|Employment Statuses Considered||
|Verification Documents Required||
|Loan Amount||Up to $25M|
|Loan Term (Months)||12 - 300|
|APR||0% - 99%|