Wells Fargo Advancing Term Loan

Wells Fargo Advancing Term Loan details
  • $100,000 to $500,000 working capital loan
  • Up to a one-year draw, balance converts to loan
  • Secured by business assets
  • Typically businesses with $2-5 million in annual sales

Best For

  • Business improvements
  • Business expansion
  • Large purchases

Other Features

  • Competitive rates
  • Unlimited access, up to line limit, during draw period
  • Balance converts to a full amortized 5-year loan at maturity or by request

Fees

  • Competitive origination fee, 0.50% of the line amount due at opening.

Eligible collateral

  • Secured by business assets (non-real estate): accounts receivable, inventory, equipment, or cash.
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