To ensure a smooth application process, you have the ability to upload documents, e-sign and disburse funds electronically. We’ll guide you through a few sections, and you can save your application any time then return to it later. If you’re a U.S. Bank customer enrolled in online banking, we’ll prefill some information for you.
Business loan
Get quick approval and a quick decision with a one-time fund payout.
Business line of credit
Get ongoing access to cash and a streamlined application process to assess your eligibility quickly.
Key differences |
Loans |
Lines of credit |
---|---|---|
Payout of funds |
One-time payment |
Advance as needed |
Interest rates |
Typically lower than a line of credit |
Typically higher than a loan |
Interest paid on |
Full loan amount |
Only on advances |
Repayment |
Fixed monthly payment |
Minimum variable payments |
Fees |
Prepayment |
Annual fee |
Repayment timeline |
Fixed |
No maturity date (excludes unsecured SBA option) |
|
|
|
One-time payment
Advance as needed
Typically lower than a line of credit
Typically higher than a loan
Full loan amount
Only on advances
Fixed monthly payment
Minimum variable payments
Prepayment
Annual fee
Fixed
No maturity date (excludes unsecured SBA option)
Business Diversity Lending Program
U.S. Bank is committed to helping close historical lending gaps among diverse owned businesses, women and veterans. Our Business Diversity Lending Program includes U.S. Bank’s traditional business loans and lines of credit, but with credit guidelines that open the door to include a wider audience of business owners.