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  Regions Bank Business

Regions Bank Business

in Business Loans from Regions Bank

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Regions Bank Business

Unaffiliated

in Business Loans from Regions Bank

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Highlights
Loan Amount Up to $6,250,000
APR  (Fixed APR) N/A
Loan Term (Months) Up to 120 months

Regions Bank Business Review

Regions business account is a business financing offering by Regions Bank, based in Huntsville, AL. Founded in 1873, Regions Bank offers access to small business loans in 50 states (and Washington, DC).

Regions business account FAQ

What are Regions business account’s rates?

Regions business account offers a fixed APR business financing product but they do not disclose their rates.

Does Regions business account charge an origination fee?

Yes, Regions business account charges a loan origination fee.

What limitations does Regions business account set on the purpose of the business loan?

Regions business account considers business loan applications for business purposes, such as:

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

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

  • Unsecured Term Business Loans
  • Secured Term Business Loans

Does Regions business account charge prepayment fees?

Yes, Regions business account 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 Regions business account?

Regions business account offers small business loans with a maximum term of 120 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 Regions Bank Business?

Regions Bank Business does not require borrowers to have been in business for a minimum number of years. Businesses must have a minimum annual revenue of $100,000 to be considered.

Applicants with a credit score of at least 580 and up to 850 may be eligible for Regions Bank Business. 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 Regions Bank Business. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Regions Bank Business. 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 Regions Bank Business report your account activity to credit bureaus?

Yes, Regions Bank Business 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.

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.

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Business Financing Requirements
  • Business Certificate
  • Business License
  • Business Bank Account
Credit Score Range 580 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Minimum Revenue $100,000
Verification Documents Required
  • Proof of Identity
  • Business Formation Documents
  • Government Issued Photo ID
  • Recent Bank Statements
  • Social Security Number
  • Driver License (or other photo ID)
  • Business Tax Return
  • Employer Identification Number
Business Loan Type
  • Unsecured Term Loan
  • Secured Term Loan
Collateral Requirement
  • Secured
  • Unsecured
Intended Use of Funds
  • Equipment Purchase
  • Lease Improvements
  • Product or Service Expansion
  • Working Capital
  • Inventory
  • Technology Investment
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Payment Frequency Monthly
Payment Options Automatic Payments
Loan Amount Up to $6,250,000
Loan Term Up to 120 months

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