Gate City Bank Business Term Loans
Gate City Bank Business Term Loans
in Business Loans from Gate City Bank

Gate City Bank Business Term Loans

in Business Loans from Gate City Bank
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4 reviews
Loan Amount N/A
APR  (Fixed APR) N/A
Loan Term (Months) 36 - 84 months

Gate City Bank Business Term Loans Review

Gate City Bank loans is a business financing offering by Gate City Bank, based in Fargo, ND. Founded in 1923, Gate City Bank offers access to small business loans in 2 states across the USA.

Gate City Bank loans FAQ

What are Gate City Bank loans’s rates?

Gate City Bank loans offers a fixed APR business financing product but they do not disclose their rates.

Does Gate City Bank loans charge an origination fee?

Yes, Gate City Bank loans charges a loan origination fee of 0% to 5% of the business loan amount. Gate City Bank loans deducts the fee directly from your business loan amount before disbursing loan proceeds, so make sure you take this fee into account when deciding how much you need to borrow.

What limitations does Gate City Bank loans set on the purpose of the business loan?

Gate City Bank loans considers business loan applications for business purposes, such as:

  • Equipment Purchase
  • Hiring
  • Inventory
  • Lease Improvement
  • Marketing
  • Payroll
  • Working capital

Does Gate City Bank loans charge prepayment fees?

No, Gate City Bank loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the business loan off early.

What is the maximum business loan term you can get with Gate City Bank loans?

Gate City Bank loans offers small business loans with terms ranging from 36 to 84 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 Gate City Bank Business Term Loans?

Gate City Bank Business Term 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.

Applicants with a credit score of at least 600 and up to 850 may be eligible for Gate City Bank Business Term Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

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 Gate City Bank Business Term Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Gate City Bank Business Term Loans. Permanent resident / green card holders are also eligible to apply.

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

  • Proof of income
  • Recent bank statements
  • Business formation documents
  • Driver's license
  • Government issued photo ID
  • Proof of identity

What is the estimated funding time for a business loan via Gate City Bank loans?

Gate City Bank loans can provide a credit approval decision in less than an hour and fund the business loan within 6 business days.

Does Gate City Bank Business Term Loans report your account activity to credit bureaus?

Yes, Gate City Bank Business Term Loans reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

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Hours of Operation

  • Sunday Closed
  • Monday 7:00am - 10:00pm
  • Tuesday 7:00am - 10:00pm
  • Wednesday 7:00am - 10:00pm
  • Thursday 7:00am - 10:00pm
  • Friday 7:00am - 10:00pm
  • Saturday 8:30am - 6:00pm

Other Services by Gate City Bank


  Available in 2 states
  • Minnesota
  • North Dakota

Feature Breakdown

NSF Fee $30
No Prepayment Fee
Origination Fee (%) 0% - 5%
Business Financing Requirements
  • Business Certificate
  • Business License
  • Business Bank Account
Credit Score Range 600 - 850
Employment Statuses Considered
  • Other
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of Income
  • Proof of Identity
  • Business Formation Documents
  • Government Issued Photo ID
  • Recent Bank Statements
  • Social Security Number
  • Business Tax Return
  • Employer Identification Number
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Funding Time Range 6 - 10 days
Payment Frequency Monthly
Payment Options
  • Automatic Payments
  • Bank Transfer
APR Type Fixed APR
Loan Term 36 - 84 months

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