Citizens Bank offer lines of term and credit loans to businesses with 6 months or maybe more in operation. While you’ll pay at the very least a yearly charge of $150 for a credit line or even a $150 origination cost for a term loan, these charges could be more affordable than with a few other rivals in the list that fee a share of that which you borrow. You’ll also provide a lot of freedom in the length of time it will require to settle a term loan whenever you borrow from people One, while you could go with a repayment duration as quick as you or as long as seven year.
- Minimal credit history: No minimum for credit line; 660 for term loans.
- Minimal company age: a few months
- Business revenue required: $150,000
Rates, Fees, & Terms
- Loan amounts: $20,000 to $150,000 for term loans; 50,000 to 1,000,000 for personal lines of credit
- Repayment terms: half a year to 1 12 months for credit lines, 1 to 7 years for term loans
- APRs: Undisclosed, but we estimate they operate as much as 60per cent for term loans
- Time for you capital: two to three times
- LendEDU score: 4.18
- Better Business Bureau rating: A+
- TrustPilot rating: N/A