U.S. Bank Business Loans Review
U.S. Bank offers business term loans, lines of credit, and SBA loans to small businesses. Could it be a good fit for your funding needs?
U.S. Bank Business Loans

Total Rating | 4.5 |
---|---|
Rates & Fees | Excellent |
Application Process | Excellent |
Sales & Advertising Transparency | Good |
Customer Service | Good |
User Reviews | Excellent |
U.S. Bank Business Loans At A Glance
- Fifth-largest bank in the nation
- Conventional & quick loans with fixed interest rates
- SBA loans
Pros
- Suited for small to large businesses
- Low interest rates
- Few additional fees
Cons
- Stringent borrower qualification
- Fair public reputation
- Operates only in 26 states
Table of Contents
Services Offered
U.S. Bank offers a variety of business funding options, including conventional and quick loans with fixed interest rates and government-backed SBA loans. Business loans from U.S. Bank can be initiated through an online application process, or you may need to visit a local branch. U.S. Bank business loans include a one-time payout of funds, fixed monthly payments and timelines, and may come with a prepayment penalty.
Here are the types of U.S. Bank business loans:
- Business term loans
- Lines of credit
- SBA loans
- Commercial lending
- Real estate loans
- Healthcare practice loans & refinancing
Borrower Qualifications
U.S. Bank loan qualifications vary by the type of loan you are seeking. While the bank doesn’t set an explicit minimum credit rating, in general, you can expect to have a hard time securing a loan if your credit falls below the mid-600s. If you want to apply and qualify online, you’ll be eligible if you have no more than two owners, and your application must include all business owners with at least 20% ownership. Be prepared to provide business and personal information, including your tax ID and estimated gross annual sales.
Time in business: | 2 years |
Business Revenue: | Varies by product |
Credit Score: | Unknown |
Rates & Fees
U.S. Bank offers several lending products to small businesses. Each type of loan has its own term lengths and interest rates.
U.S. Bank Secured Business Loans
These are the terms for U.S. Bank’s business term loans:
Borrowing amount: | Up to $1 million |
Term length: | Up to 84 months |
Interest rate: | 3.49% and up (lower with automatic payments from U.S. Bank account) |
Origination fee: | $0-$75 |
Collateral: | Assets, equipment, or vehicles |
U.S. Bank’s Business Loans is a catch-all category that includes funding used to pay for expansion, expenses, and equipment. U.S. Bank also offers equipment financing specifically.
These loans feature fixed monthly payments for up to five years with some flexibility in what you use for collateral. Full amortization can last up to seven years. In the case of equipment purchases, you may be able to use the purchased equipment itself as collateral.
U.S. Bank offers lower interest rates when you elect to make automated payments from a U.S. Bank Business Checking account, but it’s not required.
Lines Of Credit
These are the terms and fees for U.S. Bank’s lines of credit:
Credit limit: | Up to $250,000 (Cash Flow Manager) Up to $500,000 (Business Equity) $100,000 – $2,000,000 (Business) |
Term length: | Annual terms (all) Up to 5 years (Business Equity) |
Interest rate: | Unknown |
Annual fee: | Unknown |
Collateral: | Commercial property (Business Equity and Business) |
Businesses looking for something more versatile than a one-time term loan may prefer to establish a line of credit. Lines of credit allow you to access capital in a similar manner to that of a credit card, but with substantially lower interest rates. You pay interest only on the credit you’re using. This makes this a good option for businesses looking to smooth out their cash flow (or even just to have a bit of an insurance policy). Be aware that lines of credit usually have annual fees and need to be renewed.
U.S. Bank offers variations on the line of credit to businesses. Cash Flow Manager Line of Credit is the quick and easy version, offering a simplified application and same-day credit decisions. The credit limit taps out at $250,000 but doesn’t require collateral. You can also apply for this product through the SBA Express program.
Businesses with real estate equity can leverage it in the form of a Business Equity Line of Credit. U.S. Bank will offer you a secured line of credit for up to 75% of your property’s value. Payments are interest-only. Just be aware that this arrangement is for a maximum of five years.
Larger businesses can also apply for a secured line of credit in the form of a Business Line of Credit. This arrangement can be secured with a greater variety of assets than the Business Equity Line of Credit. These lines of credit can be for as much as $1 million and offer competitive interest rates and interest-only payment options.
Finally, U.S. Bank offers a Business Reserve Line of up to $5,000 with no annual fee. This line of credit is linked to your U.S. Bank business checking account and essentially protects your business from overdraft charges.
SBA Loans
These are the terms and fees for U.S. Bank’s SBA loans:
Borrowing amount: | $250,000 – $5 million (SBA 7(a) business and real estate loans) Up to $2 million (SBA 7(a) pari passu) Up to $12.375 million (SBA 504 loans) |
Term length: | Up to 7, 10 or 25 years (SBA 7(a)) 10, 25 years (SBA 504 equipment or real estate, respectively) |
Interest rate: | See current rates |
Origination fee: | 0-3.5% (SBA fee) Unknown (bank fees) |
Collateral: | Varies by product |
U.S. Bank is an approved SBA lender offering both SBA 7(a) loans and SBA 504 loans (want to know more about these loans, read our guide). These loans are partially guaranteed by the SBA, allowing businesses that may otherwise encounter a tough lending market to get credit at reasonable rates and terms.
Expect to have to make a down payment of around 10% for a 7(a) loan, as well as provide assets or real estate for collateral. The length of SBA loans will vary depending on what you’re applying the money to. For example, 7(a) loans can last up to seven years for working capital, 10 years for purchases, and 25 years for real estate.
Application Process
While bigger banks tend to be more conservative with their application processes than alternative lenders, U.S. Bank is on the flexible end of the range, though you’ll still need to speak with a specialist to complete your application.
U.S. Bank gives you options for making that first contact. For example, you can submit a contact form, after which a specialist will contact you. You can also reach the lender by phone or go down to your local branch.
Turnaround will depend on the product you’re applying for.
Note that U.S. Bank currently operates in 26 states, primarily on the West Coast, in the Mountain States, and in the Upper Midwest. Branches are located in the following states:
- Arizona
- Arkansas
- California
- Colorado
- Florida
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Minnesota
- Missouri
- Montana
- Nebraska
- Nevada
- New Mexico
- North Dakota
- Ohio
- Oregon
- South Dakota
- Tennessee
- Utah
- Washington
- Wisconsin
- Wyoming
Sales & Advertising Transparency
U.S Bank won’t win any awards for transparency, but it does provide a decent amount of information on its website, as long as you’re willing to click around a bit to find it.
For a large bank, I found them more forthcoming with information than most.
Customer Service & Technical Support
U.S. Bank Business Loans Support | Availability |
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Phone Support | |
Email Support | |
Support Tickets | |
Live Chat | |
Dedicated Support Representative | |
Knowledge Base or Help Center | |
Videos & Tutorials | |
Company Blog | |
Social Media |
U.S. Bank’s customer service gets mixed reviews from clients, which shouldn’t come as much of a surprise for a financial institution of this size. We note that many of the complaints recorded on numerous user review sites seem to refer to situations specific to the users’ local branch offices, and not the institution itself.
Customer service can be reached via the bank’s toll-free number, Monday through Saturday. You can find direct numbers for regional and international support on U.S. Bank’s business customer service page.
User Reviews
Negative Reviews & Complaints
U.S. Bank maintains an A+ rating with the BBB. Customers who have complained recently have raised the following issues:
- Impersonal Treatment: Many customers complained about the bank being unresponsive to their complaints.
- Billing Issues: As with most major banks, some U.S. Bank customers complained about overdraft fees.
- Harder To Qualify: Compared to alternative lenders, companies seeking equipment financing from U.S. Bank will have to clear a higher bar in terms of credit rating.
Positive Reviews & Testimonials
Advantages of financing with U.S. Bank include:
- Deep Pockets: Larger corporations and businesses that need seven-figure financing will be able to find it here.
- Well-Established: U.S. Bank is one of the largest and most stable financial institutions in the nation.
- Accessible Branches: U.S. Bank is accessible in a large part of the country, including those states not served by the Big Four. Even in the digital age, sometimes it’s just easier to take care of business in person. Customers in the 26 states served by U.S. Bank branches should have an easy time finding a branch. If you’re on the East Coast, Michigan, or the Gulf States, you’ll probably have to look elsewhere.
Final Verdict
As the fifth-largest bank in the country, U.S. Bancorp has assets of $530.5 billion, whereas the so-called big four banks number their assets in the trillions. For this reason, I think of U.S. Bank as a small large bank, offering many of the advantages of the nation’s largest financial institutions while avoiding many — though not all — of their worst traits. Additionally, the bank’s presence in states underserved by the big four can make them an excellent choice for businesses headquartered there.
Need alternatives? If you’re looking for a loan or line of credit and want an U.S. Bank alternative, you can see how it compares to other business lenders on our list of the best lenders for small businesses.
And, of course, if you don’t qualify for a bank loan, you can still seek funding through alternative sources like those included in our comparison of the best small business loans. You can see how loan offers from some of our top choices stack up against each other in our small business loan comparison. The point is, no matter what kind of credit rating and history you bring to the table, you have options for the funding you need to keep your small business operating and growing. You just have to go out and find it.
Find Funding for Any Credit Level
BusinessLoans.com ![]() |
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Explore a wide range of business loan options at BusinessLoans.com. With no minimum credit score requirement, find the perfect funding solution for your needs. Get Started.
Find Funding for Any Credit Level
BusinessLoans.com ![]() |
---|
Explore a wide range of business loan options at BusinessLoans.com. With no minimum credit score requirement, find the perfect funding solution for your needs. Get Started.
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