Small Business – Product List – Wells Fargo Letters of Credit

Navegó a una página que no está disponible en español en este momento. Seleccione el enlace si desea ver otro contenido en español.

Página principal

Letters of Credit

Wells Fargo Commercial Letter of Credit

  • Available to customers with an established Wells Fargo business checking or savings account
  • Up to $250,000
  • Secured by Wells Fargo deposits
  • Typically businesses with $2-5 million in annual sales
Wells Fargo Commercial Letter of Credit details

Wells Fargo Standby Letter of Credit

  • Available to customers with an established Wells Fargo business checking or savings account
  • Up to $250,000
  • Secured by Wells Fargo deposits
  • Typically businesses with $2-5 million in annual sales

Why a Business Platinum Credit Card?

The Business Platinum Credit Card is a revolving credit option for everyday business expenses for businesses with annual sales up to $2 million and needing fewer than 100 cards. It comes with a free rewards program and your choice of rewards points or cash back. Please view details for more information on rates, fees, and features.

Why a Business Secured Credit Card?

The Business Secured Credit Card is a revolving credit option ideal for everyday business expenses and businesses looking to establish or rebuild business credit. The Business Secured Credit Card comes with a free rewards program and your choice of rewards points or cash back. Please view details for more information on rates, fees, and features.

Why a Business Elite Signature Card?

The Business Elite Signature Card is a credit card for established businesses with annual sales over $1 million. It offers more purchasing power, enhanced benefits and added security to control employee spending. You can also choose to earn rich rewards points or cash back. Please view details for more information on rates, fees, and features.

Why a Wells Fargo Unsecured Business Loan?

These loans allow businesses to finance one-time expenses with the flexibility to pay over a short or longer term. One easy application to get options.

Why an Equipment Express Loan?

This loan provides buying power for established businesses to purchase new or used vehicles or equipment at competitive rates with flexible terms.

Why an Advancing Term Loan?

Allows you to expand, grow, or improve your business with permanent working capital.

Why an unsecured business line of credit?

Wells Fargo unsecured business lines of credit are ideal for new or established businesses looking for an unsecured financing solution to supplement cash flow, take advantage of unexpected business opportunities, expand your business, or cover expenditures.

Why a secured business line of credit?

A secured business line of credit is a revolving credit option designed to help you build business credit with Wells Fargo.  It can supplement ongoing cash flow needs and be paid down and used again repeatedly over time.

Why a Prime Line of Credit?

Expand, grow or improve your business by increasing your cash flow cycle.

Why a purchase loan?

Buy commercial real estate for your business, or as a real estate investor.

Why a refinance loan?

Pay off an existing mortgage on a business or commercial investment property, including potential cash-out opportunities.

Why an equity loan?

Use the equity in your commercial real estate to finance business expansion, equipment upgrades, and property improvements.

Why an equity line of credit?

Leverage the equity in your commercial real estate for property improvements, business expansion, or the purchase of large equipment or property. Enjoy unlimited draws for the first five years.

Why a Commercial Letter of Credit?

The Commercial Letter of Credit guarantees payment on behalf of the buyer to the seller generally upon delivery of goods, typically used for international trade.

Why a Standby Letter of Credit?

The Standby Letter of Credit is used as a guarantee of performance of defined terms where the Letter of Credit is only drawn upon in the event of non-performance of the contract.

Offer valid 07/01/2020 – 12/31/2020. Customer must enroll in the Wells Fargo Business Card Rewards® Cash Back Program at the time of application to be eligible to receive the one-time bonus. To qualify for the one-time $500 cash back bonus, a total of at least $5,000 in net purchases (purchases less returns and credits, and excluding balance transfers, cash advances, SUPERCHECKSTM/welcome check transactions, or any fees or interest posted to the account) must post to your Wells Fargo Business Credit Card account within the first 3 months after the account opening date. The $500 cash back bonus will be posted to the account 1-2 statements after the spend requirement is met. You must remain in the cash back program for the full duration of the introductory period (3 months) in order to receive the $500 cash back bonus. If you switch or cancel rewards programs during the introductory period, you forfeit the cash bonus. Only one cash back bonus per company. This offer is not available if the business already has a Wells Fargo business credit card or had a Wells Fargo business credit card opened or closed in the immediately preceding 12 months.

Offer valid 07/01/2020 – 12/31/2020. Customer must enroll in the Wells Fargo Business Card Rewards Points Program at the time of application to be eligible to receive the one-time bonus. To qualify for the 50,000 bonus points, a total of at least $5,000 in net purchases (purchases less returns and credits, and excluding balance transfers, cash advances, SUPERCHECKS/welcome check transactions, or any fees or interest posted to the account) must post to your Wells Fargo Business Credit Card account within the first 3 months after the account opening date. The 50,000 bonus points will be posted to the account 1–2 statements after the spend requirement is met. You must remain in the points program for the full duration of the introductory period (3 months) in order to receive the 50,000 bonus points. If you switch or cancel rewards programs during the introductory period, you forfeit the points bonus. Only one points bonus per company. This offer is not available if the business already has a Wells Fargo business credit card or had a Wells Fargo business credit card opened or closed in the immediately preceding 12 months.

There is no annual rewards program fee. If you select the Business Card Rewards Cash Back Program option, you will earn 1.5% on net purchases (purchases less returns and credits, and excluding balance transfers, cash advances, SUPERCHECKS/welcome checks, or any fees or interest posted to the account) for the life of the account. Earned cash back is credited quarterly (March, June, September, and December) to your Wells Fargo Business Credit Card account or to an eligible business checking or savings account. The cash back earned and transferred to the primary Business Card account from employee card accounts in March, June, September, and December cycles will not be credited until the following cycle month for companies with individual billing. There is no limit to the cash back earned.

There is no annual rewards program fee. If you select the Business Card Rewards Points Program, you will earn one point for every dollar spent on net purchases (purchases less returns and credits, and excluding balance transfers, cash advances, SUPERCHECKS/welcome checks, or any fees or interest posted to the account) for the life of the account. To earn the monthly 1,000 bonus points, your total Company spend must be a minimum of $1,000 in net purchases in a billing cycle. For companies with individual billing, bonus points calculation is based on owner points earned in the current statement cycle, plus employee points earned in the previous statement cycle. Bonus maximum is 1,000 points per company per month.

A $24 redemption fee will be assessed for each airline ticket redemption, and tickets must be redeemed through our Rewards Service Center or online at wellsfargorewards.com. Wells Fargo reserves the right to cancel, alter or temporarily suspend the Program at any time without notice. The terms of the Program are void where prohibited by law. Some restrictions may apply. See Business Card Rewards Terms and Conditions for details at wellsfargorewards.com.

Offer valid 07/01/2020 – 12/31/2020. Your initial rate will be a 0% fixed interest rate for the first 9 months after account opening as long as a default does not occur under the terms of your Customer Agreement. Introductory rates will not apply to balances remaining after the end of the introductory period or to cash advances, convenience check transfers or noncheck transfers incurred at any time. You will be assigned a variable interest rate between Wells Fargo Prime + 7.99% and Wells Fargo Prime + 17.99%, depending on your personal and business credit evaluation. Rates are subject to change and may be higher or lower than the stated ranges. The interest rate that you are assigned applies to purchases after the expiration of the introductory period, unless a default occurs under the Customer Agreement and we elect to increase the rate, or we exercise our right to change the terms of the account. Balance transfer check transactions processed after the end of the introductory period will be subject to the standard rate for cash advances. The interest rate for cash advances, other convenience check transactions, and noncheck transactions incurred at any time will be Prime+20.74%, unless a default occurs under the Customer Agreement and we elect to increase the rate, or we exercise our right to change the terms of the account. Prime refers to Bank’s announced Prime Rate, which is 3.25% as of 05/16/2020. If a default occurs under the Customer Agreement, the interest rate applied to all balances may be increased by the Bank to a rate equal to Prime+24.74%, subject to a maximum rate of 29.99%. Three balance transfer welcome letter checks will be mailed to the business owner or primary cardholder for balance transfers after the account is open. There is a 4% ($10 minimum; no maximum) balance transfer fee per balance transfer check and convenience check transaction. There is a 4% of the withdrawal amount ($10 minimum; $175 maximum) fee for cash advances and noncheck transfers. The primary cardholder will be able to use the checks to pay off balances with other creditors using the available credit limit on the primary card. Checks cannot be used to pay off other Wells Fargo obligations. Payments will be applied to balances with lower introductory rates first, then to balances with standard interest rates. Therefore, the benefit of an introductory offer will be reduced if the account has existing balances or additional transactions that are subject to standard interest rates. Carrying any balance, including an introductory balance, from month to month will eliminate an interest-free grace period for purchases during that month.

There is no annual rewards program fee. If you select the Wells Fargo Business Card Rewards® Cash Back Program option, you will earn 1.5% on net purchases (purchases less returns and credits, and excluding balance transfers, cash advances, SUPERCHECKSTM and welcome check transactions or any fees or interest posted to the account) for the life of the account. Earned cash back is credited quarterly (March, June, September, and December) to your Wells Fargo Business Credit Card account or to an eligible business checking or savings account. The cash back earned and transferred to the primary Business Card account from employee card accounts in March, June, September, and December cycles will not be credited until the next quarterly rewards distribution cycle. There is no limit to the cash back earned.

There is no annual rewards program fee. If you select the Wells Fargo Business Card Rewards Points Program option, you will earn one point for every dollar spent on net purchases (purchases less returns and credits, and excluding balance transfers, cash advances, SUPERCHECKSTM and welcome check transactions or any fees or interest posted to the account) for the life of the account. To qualify for the monthly spend bonus, your total company spend must be a minimum of $1,000 in net purchases in a billing cycle to earn 1,000 bonus points per billing cycle. For companies with individual billing, bonus points calculation is based on owner points earned in the current statement cycle, plus employee points earned in the previous statement cycle. Bonus maximum is 1,000 points per company per month.

A $24 redemption fee will be assessed for each airline ticket redemption, and tickets must be redeemed through our Rewards Service Center or online at wellsfargorewards.com. Wells Fargo reserves the right to cancel, alter or temporarily suspend the Program at any time without notice. The terms of the Program are void where prohibited by law. Some restrictions may apply. See Business Card Rewards Terms and Conditions for details at wellsfargorewards.com.

Your credit limit will be in an amount between $500 and $25,000, based on the amount of funds deposited by you as security in a collateral account.

Offer valid from 07/01/2020 – 12/31/2020. For customers that select the Wells Fargo Business Elite Card Rewards® cash back: To qualify for the one-time $1,000 cash back bonus, a total of at least $25,000 in net purchases (purchases less returns and credits, and excluding balance transfers, cash advances, or any fees or interest posted to the account) must post to your Wells Fargo Business Elite Signature Card account within the first 3 months after the account opening date. The $1,000 cash back bonus will be posted to the account 1 - 2 statements after the spend requirement is met. You must remain in the cash back program for the full duration of the introductory period (3 months) in order to receive the $1,000 cash back bonus. If you switch to the points program during the introductory period, you forfeit the cash bonus. Only one cash back bonus per company. This offer is not available if the business already has a Wells Fargo business credit card or had a Wells Fargo business credit card opened or closed in the immediately preceding 12 months.

Offer valid from 07/01/2020 – 12/31/2020. For customers that select the Wells Fargo Business Elite Card Rewards points: To qualify for the one-time 100,000 bonus points, a total of at least $25,000 in net purchases (purchases less returns and credits, and excluding balance transfers, cash advances, or any fees or interest posted to the account) must post to your Wells Fargo Business Elite Signature Card account within the first 3 months after the account opening date. The 100,000 bonus points will be posted to the account 1 – 2 statements after the spend requirement is met. You must remain in the points program for the full duration of the introductory period (3 months) in order to receive the 100,000 bonus points. If you switch to the cash back program during the introductory period, you forfeit the points bonus. Only one points bonus per company. This offer is not available if the business already has a Wells Fargo business credit card or had a Wells Fargo business credit card opened or closed in the immediately preceding 12 months.

If you select to earn Wells Fargo Business Elite Card Rewards® cash back, you will earn 1.5% on net purchases (purchases less returns and credits, and excluding balance transfers, cash advances, or any fees or interest posted to the account) for the life of the account. Earned cash back is credited quarterly (March, June, September, and December) to your Wells Fargo Business Elite Card account or to an eligible business checking or savings account. The cash back earned and transferred to the primary Business Elite Card account from employee card accounts in March, June, September, and December cycles will not be credited until the following cycle month for companies with individual billing. There is no limit to the cash back earned.

If you select to earn Wells Fargo Business Elite Card Rewards® points, you will earn one point for every dollar spent on net purchases (purchases less returns and credits, and excluding balance transfers, cash advances, or any fees or interest posted to the account) for the life of the account. To earn the monthly 5,000 bonus points, your total Company spend must be a minimum of $10,000 in net purchases in a billing cycle. For companies with individual billing, bonus points calculation is based on owner points earned in the current statement cycle, plus employee points earned in the previous statement cycle. Bonus maximum is 5,000 points per company per month.

A $24 redemption fee will be assessed for each airline ticket redemption, and tickets must be redeemed through our Rewards Service Center or online at wellsfargorewards.com. Wells Fargo reserves the right to cancel, alter, or temporarily suspend the Program at any time without notice. The terms of the Program are void where prohibited by law. Some restrictions may apply. See Business Elite Card Rewards Terms and Conditions for details at wellsfargorewards.com.

As of 5/26/2020, Unsecured Business Loans rates range from 6.25% to 22.99% and will be based on the specific characteristics of your credit application including, but not limited to, evaluation of credit history and amount of credit requested. The interest rate is fixed for the life of the loan. Please talk to a banker for information on the most current rates.

FastFlex Small Business Loans require an existing Wells Fargo Business Demand Deposit account for at least 12 months to qualify. We evaluate each application on its merits. All credit decisions are subject to credit approval.

Instant decision based on approvability. Some applications will result in a pending status, which requires further review before final decision is rendered.

You must access funds from the Equipment Express® loan account within 60 days of account opening.

As of 5/26/2020, vehicle loan rates start at 4.50% based on term length, credit history, and vehicle being financed. As of 5/26/2020, equipment loan rates start at 5.00% based on term length, credit history, and equipment being financed. Rates assume automatic payment from an eligible Wells Fargo business checking account, and may be higher if the borrower fails to provide collateral, or an account default occurs.

Based upon analysis of competing U.S. lenders as compiled by an independent third party research firm on a quarterly basis.

The annual fee is waived for the first year only. The annual fee of $95 (if line amount is $10,000 – $25,000) or $175 (if line amount is more than $25,000) will be assessed on your anniversary month in subsequent years. No annual fee is charged if line amount is less than $10,000.

You may qualify for a Wells Fargo Small Business Advantage line of credit with a line from $5,000 - $50,000. Speak with a banker for more information.

Prime refers to Bank's announced Prime Rate, which is 3.25% as of 07/16/2020. The Wells Fargo Prime Rate is subject to change at any time. The overall rate assigned is variable and is expressed as Prime plus a spread. Your rate will be between Prime + 1.75% and Prime + 9.75% depending on your personal and business credit evaluation. Rates are subject to change, and may be higher or lower than the stated ranges. The interest rate that you are assigned will continue unless a default occurs under the Customer Agreement and we elect to increase the rate, or we exercise our right to change the terms of the account.

Your credit limit will be in an amount between $5,000 and $100,000, based on the amount of funds deposited by you as security in a collateral account.

Prime refers to Bank's announced Prime Rate, which is 3.25% as of 07/16/2020. The Wells Fargo Prime Rate is subject to change at any time. The overall rate assigned is variable and is expressed as Prime plus a spread. Your rate will be between Prime + 1.00% and Prime + 5.00% depending on the amount of funds deposited by you as security in a collateral account. Rates are subject to change, and may be higher or lower than the stated ranges. The interest rate that you are assigned will continue unless we exercise our right to change the terms of the account.

Terms for credit products are subject to final credit approval of the business and its owners. A physical address is required to receive a Wells Fargo business credit product. You must be an owner of this business and not already have this product. See Terms and Conditions for details at account opening.

The security interest taken will be a first priority lien on all present and future accounts receivable, inventory, equipment, general intangibles and certain other non-cash personal property owned by the applicant business, and a Uniform Commercial Code financing statement will be filed against the applicant business to perfect the security interest. A security interest in the applicant business's cash held in a Wells Fargo restricted deposit account or certificate of deposit, in an amount equal to or greater than the approved credit limit, may be considered in lieu of a security interest in the non-cash personal property.

Competitive interest rates and competitive origination fee are based upon analysis of origination fees and interest rates for competing U.S. lenders as compiled by an independent third-party research firm on a quarterly basis.

The Prime Line of Credit has a term of 1 year, but may be renewed annually, subject to credit approval.

If environmental insurance or an environmental assessment is required, you will be responsible for this one-time fee. You will be responsible for any mortgage or deed of trust filing fee imposed by a state or other taxing authority. You will be responsible for all title and escrow fees and costs, including all title-related closing or attorney fees and costs.

You will need to pay a deposit of up to $1,000 when accepting the conditional approval terms of any loan. The deposit is nonrefundable if the loan transaction does not close for any reason. However, if the loan transaction does close, the deposit will be applied to any applicable fees due at closing, and if there is any unused portion of the deposit, it will be returned or credited to you after closing. For purchase loans, the customer will need to provide proof of funds for the required down payment. All financing is subject to credit approval.

Your rate locks upon receipt of a completed application and underwriting package. If your loan does not close within 90 days, you may be subject to current rates.

Loans for the purchase of investor commercial real estate are available only to established Wells Fargo business checking or savings account customers. An established Wells Fargo business checking or savings account customer is a customer that has a Wells Fargo business checking or savings account that has been open as of February 15, 2020 or for a minimum of six months at the time of the applicable credit application. All accounts must be in good standing.

Based upon analysis of application, appraisal, and origination fees, and interest rates, for competing U.S. lenders, as compiled by an independent third-party research firm on a quarterly basis.

We'll match or beat a competing offer (rate and fee combination), when a competitor's formal written approval is provided to us, or pay you $200. Terms and conditions apply.

You will need to pay a deposit of up to $1,000 when accepting the conditional approval terms of any loan. The deposit is nonrefundable if the loan transaction does not close for any reason. However, if the loan transaction does close, the deposit will be applied to any applicable fees due at closing, and if there is any unused portion of the deposit, it will be returned or credited to you after closing. For purchase loans, you will need to provide proof of funds for the required down payment. All financing is subject to credit approval.

If environmental insurance or an environmental assessment is required, you will be responsible for this one-time fee. You will be responsible for any mortgage or deed of trust filing fee imposed by a state or other taxing authority. Wells Fargo Bank will pay title policy costs, but you will be responsible for all other title-related closing or attorney fees and costs.

Cash-out in connection with refinance loans are available only to established Wells Fargo business checking or savings account customers, and only for the refinancing of a Wells Fargo existing mortgage secured by their owner-occupied property. An established Wells Fargo business checking or savings account customer is a customer that has a Wells Fargo business checking or savings account that has been open as of February 15, 2020 or for a minimum of six months at the time of the applicable credit application. All accounts must be in good standing.

Equity loans are available only to established Wells Fargo business checking or savings account customers, and only for their owner-occupied property. An established Wells Fargo business checking or savings account customer is a customer that has a Wells Fargo business checking or savings account that has been open as of February 15, 2020 or for a minimum of six months at the time of the applicable credit application. All accounts must be in good standing.

Second lien loans are only available behind a Wells Fargo Bank first mortgage for established Wells Fargo business checking or savings account customers. Commercial condo and special purpose property are not eligible for second lien.

Equity lines of credit are available only to established Wells Fargo business checking or savings account customers, and only for their owner-occupied property. An established Wells Fargo business checking or savings account customer is a customer that has a Wells Fargo business checking or savings account that has been open as of February 15, 2020 or for a minimum of six months at the time of the applicable credit application. All accounts must be in good standing.

You will need to pay a deposit of up to $1,000 when accepting the conditional approval terms for any loan. The deposit is nonrefundable if the loan transaction does not close for any reason. However, if the loan transaction does close, the deposit will be applied to any applicable fees due at closing, and if there is any unused portion of the deposit, it will be returned or credited to you after closing. All financing is subject to credit approval.

Letters of Credit are available only to established Wells Fargo business checking or savings account customers. An established Wells Fargo business checking or savings account customer is a customer that has a Wells Fargo business checking or savings account that has been open as of February 15, 2020 or for a minimum of six months at the time of the applicable credit application. All accounts must be in good standing.