Prepare for what’s ahead with the right financing. From managing accounts receivables to paying off high-interest business credit card balances, a line of credit is a flexible working source of capital for your needs.
Benefits of a Santander Small Business Line of Credit:
• A simple application process for unsecured lines of credit up to $150,000—get a credit decision as soon as the next business day3
• No financial statements or pledged collateral required at the time of qualified application3 on unsecured lines of credit up to $150,000
• We’ll waive the $250 origination fee if you have a Business Checking or Business Checking Plus account4
• Lines of credit up to $750,000 available
If a Santander Small Business Line of Credit isn’t right for you, ask us about a Santander Small Business Term Loan, Business Owner-Occupied Commercial Real Estate Mortgage or Small Business Equipment Financing.
Click below to ask about a Santander Small Business Line of Credit or our other financing solutions and one of our business banking representatives will follow up with you.
1 Small business financing products are available to qualified applicants with annual revenues up to $3,000,000, subject to underwriting and credit rules, policies, and guidelines of Santander Bank, N.A. (“Santander Bank”). Credit decisions are made by Santander Bank in its sole discretion and subject to change at any time without notice. Offers exclude businesses whose approved applications require a guarantee from the U.S. Small Business Administration. Offers do not apply to existing Santander Lines of Credit and current Santander Bank credit transactions. To apply for these offers, applicants must submit a signed and completed application and any other information requested by Santander Bank by 10/14/17.
2 For a limited time, on Small Business Lines of Credit (“BLOC”) between $10,000 and $750,000, pre-selected, qualified, and approved applicants are eligible to receive an introductory variable interest rate for 12 months following the BLOC closing of either Prime Rate minus 1.00% or Prime Rate plus 1.00%, depending on creditworthiness and other factors as determined by Santander Bank in its sole discretion. “Prime” or “Prime Rate” means a variable per annum rate of interest selected by Santander Bank in its sole discretion from time to time, and is subject to change without notice. The Prime Rate is 4.25% as of 07/19/17. On the first-year anniversary of the BLOC closing, the interest rate will convert to a variable rate between Prime Rate plus 0.50% and Prime Rate plus 8.00%, as determined and disclosed to you by Santander Bank at the BLOC closing. To qualify for one of the 12-month introductory rates, an approved business applicant must: (i) Either have, or open at time of BLOC closing, a Business Checking or Business Checking Plus account, and (ii) have, or sign up to begin upon BLOC closing, automatic pre-authorized electronic payment (ePay) transfers from that business checking account as payments for the BLOC. The applicable rate, including, but not limited to, any introductory rate, is at all times subject to the terms and conditions of the loan documents. If the Prime Rate is less than zero, it shall be deemed to be zero. For qualified applicants, Santander Bank will waive the one-time initiation fee of $250. Offer expires 10/14/17.
PRE-SELECTION NOTICE: This pre-selected offer of credit is based on information that your business meets certain criteria. This offer is not guaranteed if your business does not now meet, or does not continue to meet, our criteria. Credit may not be granted if your business no longer meets the selection criteria we used to make this offer. To be approved for credit, your business must also meet the following conditions at the time of application: (1) Your business must validly exist and be in good standing with its state of incorporation and all states in which it does business; and (2) all authorized business representatives must execute and deliver any and all required documentation in connection with the business line of credit. This offer is for a new small business line of credit up to a maximum amount of $750,000 in the name of the business identified in corresponding letter or email, may only be accepted by that business, and is nontransferable. Higher business line of credit amounts may be available to those businesses who meet our established credit standards, which may change from time to time in Santander Bank’s sole discretion without prior notice. If approved, the minimum amount we would lend your business is $10,000. This credit offer expires 10/14/17. The offer in the corresponding letter or email is not available in connection with any Santander Bank loan applied for prior to the date of the corresponding letter or email. Prior applications may not be canceled and reapplied for under the terms of this offer.
3 For qualified businesses applying for unsecured credit between $10,000 and $150,000, next-business-day credit decisions will be available and financial statements or pledged collateral will not be required at time of application unless: (1) your business is a not-for-profit organization; or (2) your business’s existing Santander Bank business credit exposure at time of loan application, in addition to the loan application request amount, exceeds or will exceed $150,000; or (3) your business’s existing Santander Bank business credit exposure at time of loan application, in addition to the loan application request amount is more than 10% of your business’s most recent annual sales; or (4) your business is applying for a commercial real estate loan. Other restrictions or conditions may also apply.
4 For approved business applicants, between 07/01/17 and 10/14/17, Santander Bank will waive the one-time origination fee of $250 on a new BLOC between $10,000 and $750,000, if the approved applicant either has, or opens at time of BLOC closing, a Business Checking or Business Checking Plus account. Additional fees, terms, and conditions may apply.