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  Byline Bank Business Loans
Byline Bank Business Loans
in Business Loans from Byline Bank
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Byline Bank Business Loans

Unaffiliated
in Business Loans from Byline Bank
Net Recommendation Score +100  

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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Highlights
Community Rating

Rating not yet determined  

Loan Amount Up to $25,000,000
APR 0% - 99%
(Verified 08/04/2023)
Loan Term (Months) 12 - 300 months

Byline Bank Business Loans Review

Byline Bank is a business financing offering by Byline Bank, based in Chicago, IL. Founded in 1978, Byline Bank offers access to small business loans in 7 states across the USA.

Byline Bank FAQ

What are Byline Bank’s rates?

Byline Bank offers a business financing product that ranges from 0% APR up to 99% APR.

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 business loan?

Byline Bank considers business loan applications for business purposes, such as:

  • Equipment Purchase
  • Lease Improvement
  • New Location
  • Product or Service Expansion
  • Working capital

What types of small business loans does Byline Bank offer?

Not all small business loans are made equal. The type of business loan you choose will determine the range of interest rates and terms you receive. Byline Bank provides access to the following business loan types:

  • Unsecured Term Business Loans
  • Secured Term Business Loans
  • Lines of Credit
  • SBA Loans
  • Commercial Real Estate Loans

Does Byline Bank charge prepayment fees?

Yes, Byline Bank charges additional fees to borrowers who pay off their small business 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 business loan early.

What is the maximum business loan term you can get with Byline Bank?

Byline Bank offers small 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 Byline Bank Business Loans?

Byline Bank Business Loans does not require borrowers to have been in business for a minimum number of years. Businesses don't have to meet a minimum annual revenue to be considered.

Byline Bank Business Loans does not require or does not disclose a credit score minimum.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Byline Bank Business Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Byline Bank Business Loans.

To qualify, applicants may need to provide the following documentation:

  • Proof of income
  • Proof of identity
Byline Bank Business Loans 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.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From Byline Bank

Byline Bank offers a variety of business loans to suit every size business’ needs. No one-size-fits-all solutions here. You dream it. We help you build it. With customized credit solutions up to $1 million, just for you. What we offer: Lines of credit. Letters of credit. Association loans, including condo and town home. Working capital loans. Real estate loans.

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Other Services by Byline Bank

Availability

  Available in 7 states
  • California
  • Illinois
  • Indiana
  • Michigan
  • Minnesota
  • Tennessee
  • Wisconsin

Feature Breakdown

Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
  • Other
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Verification Documents Required
  • Proof of Income
  • Proof of Identity
Loan Amount Up to $25,000,000
APR 0% - 99%
(Verified 08/04/2023)
Loan Term 12 - 300 months

Byline Bank Business Loans Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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