US Bank is a bank based in Minneapolis, MN. It was founded in 1863 and offers access to business loans in 50 states (and Washington, DC)
US Bank offers business loans with APRs ranging from 0% and up to 0%.
Yes, US Bank charges a loan origination fee starting at 0% of the loan amount starting at $75 US Bank deducts the fee directly from your loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow.
Some lenders only provide business loans for certain purposes. US Bank offers considers loan applications for the following reasons:
Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. US Bank provides access to the following business loan types:
Yes, US Bank charges borrowers with a late payment fee.
Yes, US 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.
Loan amounts start at $10,000 and go up to $2,000,000.
US Bank offers business loans with a maximum term of 25 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.
Applicants with a credit score of at least 700 can apply for a loan via US Bank.
US Bank does not require borrowers to have been in business for a minimum number of years. Active duty servicemembers and their covered dependents cannot apply for a loan via US Bank. The Military Lending Act prohibits lenders from charging servicemembers more than a 36% APR.
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