KeyBank Business Term Loans

KeyBank Business Term Loans Review

KeyBank business loans is a business financing offering by KeyBank, based in Cleveland, OH. Founded in 2009, KeyBank offers access to small business loans in 50 states (and Washington, DC).

KeyBank business loans FAQ

What are KeyBank business loans’s rates?

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

Does KeyBank business loans charge an origination fee?

Yes, KeyBank business loans charges a loan origination fee.

What limitations does KeyBank business loans set on the purpose of the business loan?

KeyBank business loans considers business loan applications for business purposes, such as:

• Equipment Purchase
• Inventory
• Lease Improvement
• Product or Service Expansion
• Working capital

What types of small business loans does KeyBank business loans 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. KeyBank business loans provides access to the following business loan types:

• Unsecured Term Business Loans
• Secured Term Business Loans

Does KeyBank business loans charge prepayment fees?

Yes, KeyBank business loans 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.

How much can you borrow from KeyBank business loans?

Business loan amounts start at $10,000.

What do you need to qualify for KeyBank Business Term Loans?

KeyBank 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 550 and up to 850 may be eligible for KeyBank 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 KeyBank Business Term 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 KeyBank Business Term Loans.

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 KeyBank Business Term Loans report your account activity to credit bureaus?

Yes, KeyBank 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.