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U.S. Bank Small Business Loans: 2023 Review

Updated Aug 09, 2023

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At a glance

Rating: 4.1 stars out of 5
Bankrate Score
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Rating: 2.9 stars out of 5
Rating: 4.3 stars out of 5
Customer experience
Rating: 4.1 stars out of 5
Rating: 4.5 stars out of 5
Rating: 4.6 stars out of 5
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U.S. Bank offers business loans 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.

Lender Details

  • Moneybag

    Loan amount

    $5,000-$12.4 million

  • Rates

    Interest rate

    7.99% APR

  • Clock Wait

    Term lengths

    2-25 years

  • Dollar

    Min. annual revenue

    Not disclosed

  • Business

    Min. time in business

    Not disclosed

Who U.S. Bank is best for

U.S. Bank business loans are ideal for small 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. U.S. Bank 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: in the details

U.S. Bank pros and cons


  • Checkmark

    Online application for some loans

  • Checkmark

    Wide variety of loan products


  • Limited qualification information

  • Limited state footprint

  • Most interest rates not disclosed online

Business loan types offered

Loan quick facts

  • Amounts: $5,000 to $250,000
  • Terms: Up to 84 months
  • APR: From 7.99%

U.S. Bank Quick Loan overview

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 U.S. Bank Quick Loan.

Loan quick facts

  • Amounts: Up to $250,000
  • Terms: Not disclosed
  • APR: Prime + 1.99% to Prime + 13.99%

U.S. Bank Cash Flow Manager line of credit overview

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.

Loan quick facts

  • Amounts: Up to $10 million
  • Terms: 5, 10 or 15 years
  • Interest rate: Not disclosed

U.S. Bank commercial real estate loan overview

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. 

Loan quick facts

  • Amounts: Up to $12.375 million 
  • Terms: Up to 25 years 
  • Interest rate from: Not disclosed

U.S. Bank SBA loan overview

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.

Loan quick facts

  • Amounts: Up to $1 million
  • Terms: 24 to 60 months
  • Interest rate: Not disclosed

U.S. Bank equipment loan overview

A U.S. Bank equipment loan makes it easy to purchase the business-related 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 25 percent of the equipment’s price. You can choose to repay monthly, quarterly or semi-annually.

With U.S. Bank, 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 APR 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: U.S. Bank small business loans are limited to borrowers in 28 states.

How U.S. Bank compares to other lenders

U.S. Bank's wide range of business loan products provides $5,000 to $12.4 million to cover operating costs, inventory, equipment and real estate purchases and more. 

Its competitive rates, flexible terms and guidance from business bankers create a positive lending experience for businesses interested in exploring their financing options. And it offers a convenient online application for some loan options.  

But the lender has limited qualification information available. Typically, banks require good-to-excellent credit, stable annual revenue and a minimum of two years in business. So it’s likely U.S. Bank is most suitable for established businesses looking for long-term financing.

Rating: 4.1 stars out of 5

Bankrate Score

  • Loan amount

    $5,000-$12.4 million

  • Interest rate

    7.99% APR

  • Term lengths

    2-25 years

  • Min. time in business

    Not disclosed

  • Min. business annual revenue

    Not disclosed

Rating: 4.3 stars out of 5

Bankrate Score

  • Loan amount

    Starts at $10,000

  • Interest rate

    6.25% APR

  • Term lengths

    6 months-15 years

  • Min. time in business

    2 years

  • Min. business annual revenue


Rating: 4.4 stars out of 5

Bankrate Score

  • Loan amount

    $10,000-$10 million

  • Interest rate

    5.25% APR

  • Term lengths

    6 months-25 years

  • Min. time in business

    6 months

  • Min. business annual revenue


Read our review

on Bankrate

U.S. Bank vs. Bank of America

U.S. Bank and Bank of America stand out as two large financial institutions offering various business financing options, including term loans, equipment financing and commercial real estate loans. 

Bank of America is known for its extensive national reach. But U.S. Bank's personalized approach allows business bankers to provide ongoing support and guidance throughout the application process.

Although Bank of America doesn't cap its equipment loans, businesses specifically interested in equipment financing of no more than $1 million may find U.S. Bank's no-down-payment requirement appealing. The lender allows business owners to finance 100 percent of the cost of the equipment plus up to 25 percent more to cover additional costs such as fees. These standout options can be helpful if you haven’t had time to save up for a down payment or need a loan that covers more than the equipment you wish to purchase. 

U.S. Bank vs. SMB Compass

While SMB Compass and U.S. Bank offer a variety of business loan products, SMB Compass stands out with availability across 49 states, transparency in its lending process and short-term financing options. The shortest repayment term available from U.S. Bank is two years and a prepayment fee may be assessed, but SMB Compass offers repayment terms as short as six months.  

Unlike U.S. Bank, SMB Compass clearly outlines its criteria and shares its range of potential interest rates, which start at 5.25 percent APR, compared to U.S. Bank's minimum of 7.99 percent APR. Online applications for all products, as well as fast funding within 24 to 48 hours, are added advantages with SMB Compass, but U.S. Bank's online application is limited and the funding timeline is unclear.

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.

Required application information
  • Articles of incorporation 
  • Personal and business tax returns
  • Gross annual sales information 
  • Business tax ID number
  • Company financial statements

U.S. Bank frequently asked questions

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 variety of loan types, and you may be able to change your payment date over the phone.


Clock Wait
years in business
Credit Card Search
lenders reviewed
loan features weighed
data points collected

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 30 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.