Qualified small businesses can receive rapid approval for working capital and equipment purchases, with loan approval not contingent on collateral1. And, no financials are needed for loans under $150,000.2
As an experienced SBA lender, we also offer SBA Express loans for applications that don’t qualify conventionally, through automatic decisioning with one single application.
1Blanket security interest in business assets filed upon closing. 2 Revenue verification required. 3 Documentation includes last two years of filed Business tax returns, last year end internal financial statements if most recent year tax return not filed, year-to-date balance sheet and income statement, personal financial statement and last two years of filed personal returns.
$10,000 – $500,000
Term loans 5 years
Lines of credit up to 2 years
Variable and fixed rates
First, you must have an existing deposit account with Byline Bank. Loan qualifications include:
Additional qualifications may apply for an SBA Express loan. Learn more about what the SBA considers an ineligible business.
In order to apply for a Byline Express Loan, contact one of our experienced business bankers at a branch near you to begin our streamlined application process.
For loan requests $150,000 – $500,000, please be prepared to provide:
Once you submit an application, you will receive a link to see the status of your application via email on the same day you submit your application.
Byline’s conventional loans and lines of credit can be used for the business purpose of your choosing. SBA Express loans are primarily used for the day-to-day working capital needs of the business (such as payroll, bills, inventory purchase, etc.). Additional uses may also be eligible. The SBA Express is not to be used for the refinance of debt, including credit cards, or for real estate purchases.
If your loan is approved and funded, the funds will be placed directly into your Byline Bank business checking or business savings account for immediate use.
Term Notes: Loans are amortized fully over five years from date of funding. Interest rates will be fixed for the five years based on credit score and market rates.
Lines of Credit under $150,000: 1/60 of principal outstanding plus interest is due monthly, with drawback at any time
Lines of Credit over $150,000: Interest-only due monthly
All lines of credit can be paid down or drawn up on as-needed through our simple online portal
Byline’s SBA Express loan is meant for loan amounts of $10,000 – $150,000 or less and have a streamlined, simple application. Standard SBA 7(a) Loans are usually larger in amount, more complex, and would require a full financial package in order to apply. Additionally, SBA 7(a) Loans go through a standard underwriting process. If you’re looking for a larger loan amount for your business, please complete our Get Started Now form and a member of our specialized SBA team will get in touch with you.