Qualified companies in business for at least two years can receive rapid loan approval for working capital and equipment purchases. Our streamlined process allows for automatic decisioning with one single application.
Byline Express loans are not contingent on collateral1 and only IRS revenue verification is needed for loans under $150,000.2
1Blanket security interest in business assets filed upon closing.
28821 or 4506 tax return 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
Byline evaluates application. Expedited decision.
Byline verifies revenue and/or documentation.
If approved, borrower e-signs documents.
Approved loan is funded.
First, you must have an existing deposit account with Byline Bank. Loan qualifications include:
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:
For loan requests $10,000 – $150,000, 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 Express lines of credit can be used for working capital purposes such as inventory, receivables and day-to-day expenses. Term notes to be used for equipment purchases only.
If your loan term is approved and funded, the funds will be placed directly into your Byline Bank business checking account for immediate use. Approved lines of credit are available to be drawn by customer online as needed.
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