Last Updated: 06/21/2025
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Highlights
Amount Range
$10,000 - $100,000
APR (Fixed APR)
Starting at 6.25%(Verified 06/21/2024)
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Loan Term (Months)
12 - 60
Wells Fargo Business Loan Review
Wells Fargo Small business loan is a business financing offering by Wells Fargo Bank, based in San Francisco, CA. Founded in 1852, Wells Fargo Bank offers access to small business loans in 50 states (and Washington, DC).
Wells Fargo Small business loan FAQ
What are Wells Fargo Small business loan rates?
Wells Fargo Small business loan offers a fixed APR business financing product that ranges from 6.25% APR.
Does Wells Fargo Small business loan charge an origination fee?
Yes, Wells Fargo Small business loan charges a loan origination fee .
Does Wells Fargo Small business loan charge prepayment fees?
No, Wells Fargo Small business loan does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the business loan off early.
How much can you borrow from Wells Fargo Small business loan?
Business loan amounts start at $10,000 and go up to $100,000.
What is the maximum business loan term you can get with Wells Fargo Small business loan?
Wells Fargo Small business loan offers small business loans with terms ranging from 12 to 60 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 Wells Fargo Business Loan?
Wells Fargo Business Loan requires companies to be in business for at least month
Applicants with a credit score of at least 580 and up to 850 may be eligible for Wells Fargo Business Loan. The minimum age to be eligible is 18 or the state minimum, whichever is higher. U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Wells Fargo Business Loan.
To qualify, applicants may need to provide the following documentation:
- Bank account information
- Business formation documents
- Driver's license or other government photo ID
- Government issued photo ID
- Proof of identity
Does Wells Fargo Business Loan report your account activity to credit bureaus?
Yes, Wells Fargo Business Loan reports to the following credit bureaus:
- 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 build your credit.
Does Wells Fargo Bank perform a hard credit pull?
Yes, Wells Fargo Small business loan performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.
Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.
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