Wells Fargo Unsecured Business Lines of Credit
When applying for a BusinessLine line of credit or a Small Business Advantage line of credit, it's essential to meet specific requirements to ensure a successful application. Typically, guarantors must have a FICO credit score of at least 680 at the time of application. For BusinessLine, a Wells Fargo Unsecured Business Lines of Credit must have at least 25% ownership in the business, while Wells Fargo Unsecured Business Lines of Credit Small Business Advantage, it's 20% ownership.
Moreover, the guarantor's ownership must be a combined 51% or more. If you're unsure about the application process or need more information, you can visit our Small Business Resource Center for guidance on developing a good credit application Wells Fargo Unsecured Business Lines of Credit the five essential steps to consider before applying for credit.
Every business has its own distinct story, and some exceptions may apply.
Before we proceed, we need to confirm that your application has been thoroughly reviewed and approved by our credit team.
Take the first step by applying now, and we'll carefully match your request to the most suitable line of credit based on your business's eligibility.
Perfect for
- Boosting your cash reserves
- Scaling your business
- Handling unexpected expenses
Additional Benefits
- Mastercard card access
- Easy-to-use checks
- Convenient access online or by phone
- No foreign transaction fees
Key Details and Fees
Take the first step by applying now, and we'll carefully match your request to the most suitable line of credit based on your business's eligibility.
BusinessLine line of credit
- Designed for established businesses with at least two years of experience.
Additional Details
- Available Credit Range: $10,000 to $150,000
- Revolving Line of Credit: No Scheduled Annual Review
- Competitive Interest Rates: As Low as Prime + 1.75%
- No Collateral Required
- Guarantor Requirements: Personal Wells Fargo Unsecured Business Lines of Credit from business owners with 25% or more ownership and a combined 51% ownership
- Annual Fee: Waived for the first year, Wells Fargo Unsecured Business Lines of Credit a $95 fee for lines $10,000-$25,000 and a $175 fee for lines exceeding $25,000, assessed on the anniversary month of the line
- Cash Advance Fee: No fees for online transfers, Bill Pay, or telephone transfers, but a 3% ($10 minimum) fee applies to ATM and over-the-counter transactions at a bank or financial institution, and a 4% ($10 minimum) fee for wire transfers and Casino Cash/Quasi Cash transactions when using the BusinessLine Mastercard access card.
- Eligibility for the Small Business Advantage line of credit, backed by the U.S.
Small Business Administration Wells Fargo Unsecured Business Lines of Credit, is limited to businesses that have been in operation for less than two years.
- Line of Credit Amount: Credit lines range from $5,000 to $50,000.
- Line of Credit Terms: This is a 5-year revolving line of credit, with no scheduled annual review.
- Line of Credit Interest Rates: Rates as low as Prime + 4.50% apply, with interest charged when the account is used.
- Collateral is not required.
- Guarantors are required, including personal guarantees from any owner with 20% or more of the applicant business, and a minimum combined aggregate of 51% ownership.
- Businesses must meet the requirements of the U.S.
SBA, with a household personal liquid asset value of less than $500,000, and are limited to for-profit businesses.
- There is no annual fee.
- Cash Advance Fee: No fee for ATM, over the counter transactions from a bank or financial institution, access checks, online transfers, Bill Pay or telephone transfers. A 4% fee ($10 minimum) is charged for wire transfer transactions and for Casino Cash/Quasi Cash transactions when using the Small Business Advantage Mastercard access card.
- Business Bill Pay, enabling users to make payments to any company or individual in the U.S.
from their business or personal accounts.
- Automatic payments, allowing users to set up recurring payments from their business checking accounts.
- Overdraft Protection, enabling users to link their Wells Fargo Business Checking accounts and receive protection from overdrafts.
Key Features of Our Line of Credit
Fees
Line of Credit Details
Fees
Additional Features
Exclusive benefits are available to both Wells Fargo BusinessLine and Wells Fargo Small Business Advantage customers, Wells Fargo Unsecured Business Lines of Credit access card, allowing cardholders to make purchases and access cash worldwide.
Additionally, customers can participate in the Wells Fargo Business Line Rewards Program, which offers exclusive benefits and rewards to cardholders.
Unlock the full potential of your Wells Fargo unsecured business line of credit with our exclusive rewards program, featuring no annual fees, no caps, and no categories to keep track of.
Seamlessly integrate your Wells Fargo Unsecured Business Lines of Credit access card to make purchases and start earning points that can be redeemed for thousands of Wells Fargo Unsecured Business Lines of Credit items.
- Earn 1 point for every $1 spent using your Mastercard access card, Wells Fargo Unsecured Business Lines of Credit take your rewards to the next level.
- Receive 1,000 bonus points every month when your qualifying purchases reach $1,000 or more, Wells Fargo Unsecured Business Lines of Credit make the most of your rewards.
- Get a 10% points credit every time you redeem online, and enjoy the benefits of our rewards program.
- Unlock a world of possibilities with your points, redeeming them for travel, gift cards, merchandise, and more.
- Discover the full range of rewards available to you, and start enjoying the benefits of your Wells Fargo unsecured business line of credit.
Unlock the power of flexible financing for your business today.
Our dedicated team will review your request and match it to Wells Fargo Unsecured Business Lines of Credit perfect line of credit based on your business's unique needs and product eligibility. With our online application process, you can apply for up to $100,000 and enjoy the convenience of our online platform.
For larger line requests, our dedicated relationship managers and local Wells Fargo Branches will be happy to assist you. Our BusinessLine line of credit is designed for established businesses, with a minimum operational history of two years.
If you're a newer business, you may be eligible for our Wells Fargo Small Business Advantage line of credit. Don't miss out on this limited-time offer, valid from October 1, 2024, to December 31, 2024.
For the first year, the annual fee for our BusinessLine line of credit is waived. However, a fee of $95 will be applied to your anniversary month for line amounts between $10,000 and $25,000, and $175 for amounts exceeding $25,000. Our flexible financing options can help you achieve your business goals. Apply now and take the first step towards a brighter financial future.
Before we can offer you a credit product, we need to verify that you and your business meet our credit requirements and that you have a valid physical address to receive your product.
Additionally, you must be the business owner and not already have a credit product with us.
When it comes to a BusinessLine line of credit, your interest rate will fall within a range of Prime + 1.75% to Prime + 9.75% - a figure determined by your individual credit score, as Wells Fargo Unsecured Business Lines of Credit as your business creditworthiness.
This Prime rate, as announced by the bank, can shift at any moment. The interest rate you're assigned will remain in effect unless you fall behind on your payments, in which case the bank can opt to raise your rate, or, as a result of a change in the terms of your account, the bank can opt to raise your rate.
The interest rate can change at any moment, and it may be higher or lower than the stated range. The moment you use your line of credit account, interest will start to accrue - whether it's through a Mastercard purchase, a check, or a transfer.
When you open a new account with Wells Fargo, you're automatically enrolled in the Business Line Rewards program, a program with no annual fees.
For every dollar you spend using your Mastercard, you'll earn one Business Line Rewards point, provided the purchase is a qualifying one (excluding returns and credits). This point system doesn't account for any fees you may incur. However, if you accumulate at least $1,000 in qualifying purchases using your Mastercard, you'll receive a 1,000-point bonus.
This program is subject to change and may be terminated at any time, with no prior notice. Certain restrictions may apply. For a full understanding, be sure to review the Wells Fargo Business Rewards Program Terms and Conditions.
For startups with less than two years of operation, Wells Fargo offers a Small Business Advantage line of credit, subject to meeting U.S. SBA requirements. These requirements include a strict limit on household personal liquid assets, with a maximum of $500,000.
This line of credit is exclusively available to for-profit Wells Fargo Unsecured Business Lines of Credit. However, if you fail to meet these requirements, you may still be eligible for a Wells Fargo BusinessLine line of credit with different terms and conditions.
When it comes to our Small Business Advantage line of credit, your interest rate will fall within a range of Prime + 4.50% to Prime + 6.50%, determined by our thorough evaluation of your personal and business credit. Prime, in this context, represents the current Prime Rate set by the bank, which can shift at any moment.
The interest rate you're assigned will remain in effect unless a default occurs under your Customer Agreement, and we decide to boost the rate, or we decide to alter the terms Wells Fargo Unsecured Business Lines of Credit your account.
Please note that interest rates can fluctuate, and may be higher or lower than the initially stated range. Interest will be accrued the moment you use your line of credit account, including any transactions made through Mastercard, bank transfers, or checks.
No monthly service fee applies to Bill Pay transactions.
However, account fees, such as monthly service fees, may be charged to the account(s) used to make Bill Pay payments. Bill Pay transactions themselves do not incur overdraft fees, but they can lead to overdrafts. For instance, if a Bill Pay payment decreases the available balance in the designated payment account, it may impact subsequent transactions, including debit card purchases, checks, and other payments.
These transactions may be subject to overdraft fees, as outlined in the Account Agreement and the Fee and Information Schedule applicable to the account(s) in Wells Fargo Unsecured Business Lines of Credit for account advances is subject to specific requirements. Interest on advances drawn from linked credit Wells Fargo Unsecured Business Lines of Credit is accrued from the date of each advance.
For more information on Overdraft Protection advances, please refer to your Customer Agreement. For details on our overdraft services, visit our website at https://www.wellsfargo.com/biz/help/faqs/overdraft-services.
Flights must be redeemed through our Wells Fargo Unsecured Business Lines of Credit Rewards website or service center. Please note that certain restrictions and limitations apply.
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Wells Fargo Bank, N.A.
is a member of the Federal Deposit Insurance Corporation (FDIC).
Wells Fargo Bank, N.A. is a member of the Federal Deposit Insurance Corporation (FDIC).
