Chase Small Business Loan Options
Chase offers several business lending products tailored to different stages of growth. The most common paths include a Chase Business Line of Credit for flexible, short-term needs, a Chase Term Loan for a lump sum repaid over a fixed schedule, and SBA-backed loans for businesses that qualify for government-backed programs. Each product has distinct repayment terms, funding speeds, and qualification thresholds.
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Chase Business Line of Credit
A line of credit works like a revolving credit card for your business. You draw funds as needed, pay interest only on what you use, and can replenish your available balance as you repay. Chase lines of credit are well suited for managing cash flow gaps, covering seasonal inventory, or handling unexpected expenses.
Chase Term Loans
Term loans provide a single lump sum repaid in fixed monthly installments over one to ten years, depending on the amount and purpose. These loans work best for planned investments such as equipment purchases, expansion buildouts, or acquisition costs where you know exactly how much funding is required and over what timeline.
SBA Loans Through Chase
Chase is a participating lender for SBA 7(a) and SBA Express programs. SBA loans typically offer longer repayment terms and lower down payments than conventional financing, but they require more documentation and take longer to close. These loans are often the right fit for startups and businesses with limited collateral.
Rates, Fees, and Terms
Chase does not publish a single fixed rate for small business loans because pricing varies with creditworthiness, loan size, and product type. As of the latest available information, annual percentage rates on Chase business term loans generally start in the mid-prime range and go higher for riskier profiles or smaller loan amounts. Lines of credit carry variable rates tied to the prime rate.
Common fees include an origination fee on term loans, a monthly maintenance fee on lines of credit, and potential prepayment penalties depending on the specific product. SBA loans carry guarantee fees paid to the SBA, which can add to the total cost of borrowing.
| Product | Typical Term | Funding Speed | Best For |
|---|---|---|---|
| Business Line of Credit | Revolving, 1–3 years | Days to a few weeks | Cash flow and short-term needs |
| Term Loan | 1–10 years | 1–4 weeks | Equipment, expansion, acquisitions |
| SBA 7(a) Loan | Up to 25 years | 4–8 weeks | Startups, real estate, large capital needs |
Eligibility Requirements
Chase evaluates small business loan applicants on several factors. Strong candidates typically have been in business for at least two to three years, though exceptions exist for well-documented startups. Annual revenue thresholds vary by product, but Chase generally looks for businesses demonstrating consistent cash flow and a history of on-time debt payments.
Personal credit score remains important, especially for smaller loan amounts or newer businesses. A score in the mid-600s or above improves chances, but the final decision weighs the full credit profile, business financials, and the purpose of the loan. Collateral may be required for larger term loans, and SBA loans require the business to meet SBA size and use-of-funds standards.
How to Apply
The application process starts with gathering key documents: business tax returns for the past two to three years, profit and loss statements, balance sheets, a business plan outlining how funds will be used, and personal financial information for owners with significant stakes. Existing Chase customers can apply through their business online banking portal, which may streamline document submission and verification.
New applicants can start by reviewing current Chase business lending offers on the official Chase website, completing a pre-qualification inquiry, or visiting a local Chase branch to speak with a business lending specialist. Pre-qualification often involves a soft credit pull and gives a sense of terms before a formal application triggers a hard inquiry.
Comparing Chase to Other Lenders
Compared to online lenders, Chase typically offers lower rates for well-qualified businesses but moves more slowly and requires more documentation. Compared to community banks, Chase provides a wider range of products and larger maximum loan amounts, but the application process can feel more standardized. For businesses that need fast funding with minimal paperwork, online lenders may be a better fit; for those seeking the lowest long-term cost and a well-established bank relationship, Chase remains a strong option.