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U.S. Bank business loans: 2023 review

Updated on Mar 08, 2023
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At a glance

Overall Score 4.1
Overview U.S. Bank offers several funding solutions for both new and established businesses. You'll receive support from a business banker when applying to ensure you select the best financing option for your company.
Loan amount: $5,000-$12.4 million
Interest rates from: 7.99%
Term lengths: 2-25 years
Minimum credit score: Not disclosed

Who U.S. Bank is best for

U.S. Bank is ideal for business owners who prefer a personalized, face-to-face lending experience. You’ll work with a business banker and can receive in-person support when applying. This lender is also suitable if you have a solid credit rating and want to take advantage of its competitive APRs, even if you’re just starting out

Who U.S. Bank may not be best for

Borrowers who prefer an online lender with rapid approvals and funding times likely aren’t a suitable option for U.S. Bank. You may also want to look elsewhere if you need a small, short-term loan to meet a temporary funding need in your business. 


U.S. Bank pros and cons


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    Most interest rates not disclosed online

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    Online application for some loans

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    Wide variety of loan products


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    High maximum interest rate

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    Limited qualification information

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    Limited state footprint

Business loan types offered

Borrowers have many business lending solutions to choose from at U.S. Bank. In addition to the loans discussed below, U.S. Bank offers a business equity line of credit, a business line of credit that ranges up to $1 million, practice financing and McDonald’s franchise financing.

Quick Loan

The Quick Loan from U.S. Bank is a term loan disbursed in a lump sum and payable in equal monthly installments. It comes in three variations — the general purpose business loan, business vehicle loan and business equipment loan. Secured and unsecured loans are available. 

Regardless of which you select, there is no origination fee. A prepayment penalty may apply if you pay the loan off early. 

Businesses as young as six months may qualify for a Quick Loan.

Cash Flow Manager line of credit

This product provides working capital to make seasonal purchases, meet short-term cash needs or acquire inventory. You’ll get a pool of cash to draw from as needed and only pay interest on the amount you borrow. The secured Cash Flow Manager line of credit is limited to $250,000; it requires a UCC lien on business assets but features lower interest rates. The unsecured line of credit has a lower limit of $100,000 and has steeper interest rates. 

Lines of $50,000 or less come with a $150 annual fee. U.S. Bank states this option is best for businesses that have been established at least two years.

Commercial real estate loans

Commercial real estate loans are offered to small business owners looking to buy owner-occupied or investment properties. Loan terms of up to 15 years are available, but loans can be amortized for up to 25 years. Both fixed- and variable-rate loans are available. 

SBA loans

U.S. Bank is an SBA Preferred Lender offering loans with flexible terms, competitive rates and lower down payments than conventional loans. SBA 7(a) loans to help foster business acquisition and expansion efforts are available. Or you can explore 7(a) and 504 loans to acquire real estate or refinance existing loans.

Equipment loan

An equipment loan from U.S. Bank makes it easy to purchase the equipment needed to keep your company moving forward. There's no down payment requirement. You can buy several pieces of equipment with a single loan and roll in additional costs, up to a total of 125 percent of the equipment’s price. You can choose to repay monthly, quarterly or annually.

Online pre-approval is available. You’ll need at least two years in business to qualify.

Do you qualify? 

U.S. Bank does not disclose its full eligibility guidelines for business loans on its website. That said, similar offerings from other lenders typically come with minimum credit score, annual revenue and time in business requirements. 

Ideally, you should have a good or excellent FICO credit score to have the best chance at qualifying for a business loan with competitive terms. A solid business credit score helps too. Most banks require at least two years in business.

What we like and what we don’t like

U.S. Bank offers a wide selection of loan products — but consider potential drawbacks before deciding if one is right for you.

What we like

  • Attractive minimum interest rates: The minimum interest rate on Quick Loans is 7.99 percent, while Cash Flow Manager lines of credit start at Prime plus 1.99 percent.
  • Online applications: You can apply online for select Quick Loans and the Cash Flow Manager line of credit. Many big banks lending to small businesses require in-person applications for all loans.
  • Wide variety of loan products: U.S. Bank offers many business loans, from general products like the Quick Loan to niche products, like McDonald’s franchise funding.

What we don't like

  • Interest rates not fully disclosed online: U.S. Bank does not disclose loan borrowing costs for most business loan products. To learn what rates you might receive, you’ll have to apply.
  • Limited qualification information: Similarly, it can be hard to tell whether you qualify for U.S. Bank’s loan products before applying. Like many traditional lenders, the bank does not disclose minimum credit score requirements for any loan products.
  • Limited state footprint: Loans are limited to borrowers in 28 states.

How to apply for a loan with U.S. Bank

The application process depends on the loan type. You can apply online for general purpose and equipment Quick Loans and Cash Flow Manager lines of credit. However, you must make an appointment to speak with a business banker if you seek another type of loan.

Visit a local branch or call 888-919-0502 to receive live support. You can also make an appointment using the online scheduler to speak with a banker virtually, by phone or in person.

U.S. Bank FAQs

How Bankrate rates U.S. Bank

Overall Score 4.1
Accessibility 2.9 Like many banks, U.S. Bank doesn’t set a clear funding timeline for its loans — plus, it doesn’t disclose all its qualification requirements.
Affordability 4.3 The minimum interest rates U.S. Bank discloses are reasonable, but upper limits are unclear.
Transparency 4.5 U.S. Bank gets points for offering online prequalification and disclosing some rates and terms.
Customer experience 4.1 You can apply for some loans online, and customer support is available in-person or over the phone.
Flexibility 4.6 U.S. Bank offers a plethora of loan types, and you may be able to change your payment date over the phone.


To select the top small business lenders, Bankrate considers more than 20 factors. These factors include loan amounts, approval and funding times, credit requirements, APR or factor rate ranges, fees, and easy-to-find rate and fee disclosures. Bankrate reviewed more than 20 lenders and gave each a rating, which consists of five categories:

  • Accessibility: Factors considered in this category include minimum loan amounts, approval and funding speed, minimum annual revenue and minimum credit score.
  • Affordability: This section measures interest or factor rates and fees.
  • Transparency: How easy it is to find important rates, fees and eligibility requirements are considered in this category.
  • Customer experience: Customer service hours, online applications and app availability are considered in this category.
  • Flexibility: This category considers factors like the number of loan products and ability to change payment due date.

Editorial disclosure: All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.