Business Advantage Term Loan Icon

Business Advantage Term Loan

Success is in the details, especially with the Bank of America Business Advantage Term Loan. It features fixed repayment terms of 12-60 months, a competitive rate, and funding within 5 days of signing the agreement. Apply now to give your small business the advantage.

Quick facts and Requirements

Loan Amount

$10,000 - $100,000

Loan Term

12 - 60 Months

Payment Frequency

Monthly

Fees

$150 Origination Fee

Time to Funds

Typically 5 Days from Signed Agreement*

Benefits & Drawbacks

No collateral required
Fixed rates keep your payments consistent
Once approved, you could be funded the next business day
Minimum 2 years in business under the existing ownership is required
Your annual business revenue must be $100,000 or more

Flexible Small Business Funding

Flexibility of use is a major benefit of the Bank of America Business Advantage Term Loan. If approved, you can use your term loan to finance expansions, acquisitions, equipment purchases, inventory increases, and much more.   

Application Requirements

To apply, you’ll need to provide some basic facts about your business including your annual revenue, annual net profit, tax ID information, and the details of any other financing agreements for your business. You’ll also be required to provide basic personal information about each owner or guarantor of your business.

*Based upon Approval Officer successfully contacting customer and obtaining the necessary information for underwriting evaluation.

Why use Lendio?

Lendio's mission is to empower your business by making small business loans simple through options, speed, and trust. Whether you are looking for an acquisition loan or a term loan, Lendio offers hundreds of different loan products from a variety of lenders. Finding out which business loan is best for you is why we're here.