Chase and Wells Fargo are two large banks that offer various business banking and lending services. Chase is less transparent than Wells Fargo, but offers a wider variety of loans, including commercial property financing. On the other hand, Wells Fargo has appealing business lines of credit that come with rewards that can help you save money.

Let’s look at each lender to help you find the right business loan based on your company’s needs.

Key takeaways

  • Chase and Wells Fargo both offer large business loans to established companies with good-to-excellent credit
  • Chase offers term loans of up to seven years with starting amounts as low as $5,000
  • Wells Fargo’s lines of credit have low interest rates and offer rewards
  • Choose Chase for term loans and business credit cards
  • Choose Wells Fargo for lines of credit and SBA loans

Chase vs. Wells Fargo at a glance

Chase and Wells Fargo have similar loan amounts and term lengths. Both are large banks that require good-to-excellent credit. But Wells Fargo does a better job of providing information that can help you decide if it’s the right business loan lender for you.

Chase Wells Fargo
Bankrate Score 3.6 4.2
Best for Term loans
Real estate financing
Lines of credit
SBA loans
Number of loan products 4 4
Loan amounts $5,000 to $5 million $5,000 to $6.5 million
Interest rates Not stated Starting at 8.75% (Prime plus 0.5%)
Term lengths Up to 25 years Up to 25 years
Personal credit score Not stated 680
Minimum time in business Not stated Two years for some loan products
Minimum business revenue Not stated Not stated

Chase business loans

Chase offers several business loans, including lines of credit, term loans and SBA loans. It also offers specialized commercial real estate financing, which can appeal to businesses looking to buy property.

A major drawback of Chase’s business loans is that the lender lacks transparency. Chase doesn’t show many loan details on its website, including rates, fees and revenue requirements. You’ll have to speak to a Chase lender to get more information and to see if you qualify.

But if you bank with Chase, you’ll enjoy the convenience of having your bank accounts, business loans and even credit cards all in one place.


  • Terms up to 25 years
  • Specialized commercial property loans
  • Large loan limits


  • Lack of transparency
  • In-person application required
  • Not available in all states

Wells Fargo business loans

Wells Fargo is a traditional lender like Chase. It focuses on established companies with good-to-excellent credit and offers three business lines of credit.

Two business lines of credit are unsecured options with APR rates as low as 10.00 percent. Low interest rates can help cut down on the amount of debt you have to repay.

It also offers a Prime Line of Credit, which has a limit up to $1 million but is only available to companies producing more than $2 million in revenue each year. You can also get SBA 7(a) and 504 loans, allowing companies to borrow up to $6.5 million at one time.

Customers can also open business bank accounts, including checking and savings accounts.


  • Multiple lines of credit
  • Low interest rates
  • Rewards program


  • High credit score and time in business requirements
  • Lines of credit may charge annual fees
  • Personal guarantee required

How to choose between Chase and Wells Fargo

Chase and Wells Fargo are two of the largest banks in the U.S. Chase offers four different types of loans, while Wells Fargo offers SBA loans and three different business lines of credit.

Choose Chase for term loans

Chase offers term loans with loan amounts ranging from $5,000 up to $500,000 with financing of up to seven years. Not all lenders are willing to work with small business owners who only need small business loan amounts of less than $10,000. Many lenders also only offer financing terms of up to five years. If you need more time to pay off a loan and can handle the additional interest charges, it helps that lenders are willing to offer long-term financing.

Choose Wells Fargo for business lines of credit

Chase offers a line of credit, but Wells Fargo beats the competition by having three different line of credit options available. Each earns rewards but is focused on different types of companies looking for financing for working capital, cash shortfalls or emergencies.

One is targeted at established companies with reasonable revenues while the Small Business Advantage line of credit is backed by the SBA and targeted at newer companies that have been in business less than two years.

Large businesses with $2 million in annual revenue can get the best deal through the Prime Line of Credit.

Choose Chase for business credit cards

Most business credit cards require good-to-excellent credit but are a great option to help cover travel and short-term needs. Chase business credit cards give business owners the chance to earn cash back or travel rewards or take advantage of other perks.

For example, the Ink Business Unlimited® Credit Card packs in a lot of features not commonly found with no-annual-fee business credit cards. On top of the flat rate rewards for all eligible purchases, it offers one of the best sign-up bonuses and an intro APR offer.


Chase and Wells Fargo are good options for business owners with good-to-excellent credit. But there are other large banks worth considering and online lenders that may have more accessible loans.

Bank of America offers SBA loans, secured and unsecured lines of credit, term loans and equipment loans. Like Wells Fargo, it has a rewards program, but instead of offering the same rewards to everyone, Bank of America gives Preferred Rewards members a chance to earn higher rewards and more perks based on the amount of funds you keep in an eligible account.

If you don’t qualify for a business loan from a bank, Fundible may be a suitable alternative. Even business owners with credit scores as low as 450 may be able to qualify for a loan through Fundible. Another benefit of Fundible is its low loan minimums, just $5,000 for its term loans and $1,000 for its line of credit.

SBA loans

If you’re in the market for an SBA loan, working with a major bank like Chase or Wells Fargo can be appealing. But large financial institutions usually prefer to focus on well-qualified, established companies, even for SBA loans. They may also not have some types of loans, like microloans or Community Advantage Loans available.

Microloans are a special type of SBA loan, typically targeted at small or minority-owned businesses. They have limits up to $50,000, making them ideal working capital loans and suitable for covering startup costs. The SBA maintains a list of microlenders that can help you find the right lender near you.

SBA Community Advantage loans are a special type of SBA 7(a) that specifically help finance businesses that operate in underserved communities. These loans come from Certified Development Centers, Community Development Financial Institutions, and other local lenders. You can use the CDFI Fund website to find a list of lenders.

Bottom line

Both Chase and Wells Fargo are major banks that offer business loans, but they offer different types of loans. Consider Wells Fargo if you want a line of credit or SBA loan and Chase if you want a business credit card or term loan.

Before applying with either lender, take the time to consider other options. You may find a better small business lender that offers a more affordable loan.

Frequently asked questions

  • To get a business bank loan, you’ll need to have some operating history, usually at least a year or two, and meet revenue requirements, such as $100,000 annually deposited in a business checking account. Strong personal credit can also help.
  • Term loans and lines of credit are both useful in different situations. Term loans are good for large, one-time purchases, while lines of credit can be useful when your company has unexpected expenses or unpredictable cash flow.
  • Wells Fargo states you need a 680 credit score to qualify for a business loan.