Where does SunTrust Bank do business?
SunTrust Bank is a bank based in Atlanta, GA. It was founded in 1865 and offers access to business loans in 10 states (and Washington, DC).
Does SunTrust Bank charge an origination fee?
Yes, SunTrust Bank charges a loan origination fee.
What limitations does SunTrust Bank set on the purpose of the loan?
Some lenders only provide business loans for certain purposes. SunTrust Bank considers loan applications for the following reasons:
- Equipment Purchase
- New Location
- Product or Service Expansion
- Working capital
What types of business loans does SunTrust Bank offer?
Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. SunTrust Bank provides access to the following business loan types:
- Unsecured term loans
- Lines of Credit
- SBA Loans
- Commercial Real Estate
Does SunTrust Bank charge prepayment fees?
Yes, SunTrust Bank charges additional fees to borrowers who pay off their 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 loan early.
What is the maximum loan term you can get with SunTrust Bank?
SunTrust Bank offers business loans with a maximum term of 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 a loan with SunTrust Bank?
SunTrust Bank doesn’t disclose its credit score minimum.
SunTrust Bank does not require borrowers to have been in business for a minimum number of years.
Only U.S. citizens and permanent residents can apply for a loan..
To qualify, applicants may need to provide the following documentation:
Does SunTrust Bank report loan payments to credit bureaus?
SunTrust Bank may report credit data to the following credit reporting agencies:
303 Peachtree Street, Northeast
Atlanta, GA 30308 USA
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Other Services by SunTrust Bank
- Washington, DC
- North Carolina
- South Carolina
- U.S. Citizen
- U.S. Permanent Resident
- Proof of Identity
- Proof of Income