Bofa Business Loans

Simplify your small business banking and help your company grow with bank of america business advantage.

Bofa business loans. Business advantage credit line term loan and secured lending enrolled clients can receive a loan discount of. Remote deposit online is subject to approval and availability in your area. In accordance with the sba s updated august 8 deadline if you applied for a. Bank of america said friday evening that through its first day administering a small business relief program more than 85 000 customers applied for 22 2 billion in loans.

The bank was the first. Use the proceeds to buy inventory and materials refinance debt or finance receivables among other options and secure the loan with the collateral of your choice. Bank of america s secured business loan. Bank of america is letting customers request to defer payments on mortgages and small business and auto loans in light of the coronavirus pandemic.

Open a business bank account find credit cards apply for a loan discover cash management tools and get valuable small business banking tips. Only certain bank of america loan products are eligible to receive the rate discount as follows. Bank of america s secured business loans like its secured business lines start at 25 000. 0 25 for gold tier 0 50 for platinum tier and 0 75 for platinum honors tier.

Bank of america offers small business loan financing solutions 504 sba loans and business expertise to aid your business. Important update legislation signed into law on july 4 2020 authorized the small business administration sba to approve paycheck protection program ppp loan applications through the earlier of august 8 2020 or until funds run out this was an extension from the sba s original deadline of june 30 2020. A monthly service fee of 15 will be assessed for this service. Bank of america corp.

You must be enrolled in online banking to use the remote deposit online service and have an open bank of america small business deposit account to apply and be approved for enrollment in remote deposit online and fees will be billed. Bank of america corp.