|APR (Fixed APR)||N/A|
|Loan Term (Months)||N/A|
Huntington National Bank Business Loan Review
Huntington business loan is a business financing offering by The Huntington National Bank, based in Columbus, OH. Founded in 1866, The Huntington National Bank offers access to small business loans in 50 states (and Washington, DC).
Huntington business loan FAQ
What are Huntington business loan’s rates?
Huntington business loan offers a fixed APR business financing product but they do not disclose their rates.
Does Huntington business loan charge an origination fee?
Yes, Huntington business loan charges a loan origination fee.
What limitations does Huntington business loan set on the purpose of the business loan?
Huntington business loan considers business loan applications for business purposes, such as:
- Equipment Purchase
- Lease Improvement
- Product or Service Expansion
- Technology Investment
- Working capital
What types of small business loans does Huntington business loan 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. Huntington business loan provides access to the following business loan types:
- Unsecured Term Business Loans
- Secured Term Business Loans
Does Huntington business loan charge prepayment fees?Yes, Huntington business loan 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 do you need to qualify for Huntington National Bank Business Loan?
Huntington National Bank Business Loan 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 580 and up to 850 may be eligible for Huntington National Bank Business Loan. 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 Huntington National Bank Business Loan. Their rates fall within the limits of The Military Lending Act.
U.S. citizens are, of course, eligible for the services offered by Huntington National Bank Business Loan. Permanent resident / green card holders are also eligible to apply.
To qualify, applicants may need to provide the following documentation:
- Recent bank statements
- Business formation documents
- Driver's license
- Government issued photo ID
- Proof of identity
Does Huntington National Bank Business Loan report your account activity to credit bureaus?
Yes, Huntington National Bank Business Loan reports your account activity to the following credit reporting agencies:
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.
Other Services by The Huntington National Bank
- Washington, DC
- North Carolina
- North Dakota
- New Hampshire
- New Jersey
- New Mexico
- New York
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
|Business Financing Requirements||
|Credit Score Range||580 - 850|
|Employment Statuses Considered||
|Immigration Status Considered||
|Verification Documents Required||
|Business Loan Type||
|Intended Use of Funds||
|Credit Bureau Reporting||
|Payment Options||Automatic Payments|
|APR Type||Fixed APR|