Small Business Resource Directory

Bank of America Small Business Loans - Secured

With a quick approval process, secured loans let you borrow for a variety of purposes without securing against specific business or personal assets.

Who it's for

Secured loans are designed for business owners who need credit for:

  • Purchasing inventory and materials
  • Purchasing vehicles or equipment
  • Improving cash flow or permanent working capital
  • Refinancing debt
  • Financing accounts receivables

  • Secured loan features

  • Available for amounts $10,000 and up
  • Provides a one-time lump sum with fixed monthly payments
  • Quick approval process
  • Competitive, fixed rate of interest
  • Maximum term up to 7 years

  • Requirements
  • Loan documentation must be signed at a local Bank of America Banking Center
  • For certain requests
  • o Financial documentation required including the past 2 most recent years business tax return, and most recent years' personal tax return.
    o All owners with at least 20% ownership required to guarantee, with a minimum of 80% ownership represented

    Please visit your local banking center to apply.
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