Business Loans – Comparison Chart

Use our business loan comparison to determine the best loan for your business.

Equipment Express® Loan
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Wells Fargo BusinessLoan® Term Loan

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SBA 7(a) Term Loan

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SBA 504 Term Loan

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Ideal for

Established businesses looking for new and used business equipment.

Established businesses looking for quick access to lump sum funds for business opportunities.

Businesses looking for longer term financing with net worth below $15 million and an average net income below $5 million.

Businesses looking for longer term financing with net worth below $15 million and an average net income below $5 million.

Credit amount

$10,000 – $100,000

$10,000 – $100,000

Up to $5 million

Up to $6 million

Interest rates

Fixed rates

Fixed rates

Fixed or variable; subject to SBA maximum rates

Wells Fargo loan: Fixed or variable interest rates available

SBA loan: Below market fixed interest payment. Loan rate set when debenture is sold

Terms

2 - 5 year terms or up to 6 years for new vehicles

2, 3, 4, and 5 years

7 - 25 years depending on the type of loan, fully amortized – no balloon payments

10 - 30 year amortizations depending on the type of loan

Collateral required

Yes

No

Yes

Yes

Fees

No application, annual, or pre-payment fees

Documentation fee : $150

No annual or pre-payment fee

Documentation fee : $150

SBA guarantee fees based on loan amount.

No fees for loans up to $150,000.

Generally 3.5% of SBA debenture amount

Apply

Apply Online

Apply Online

Apply in Person

Apply in Person

 Wells Fargo Works 

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Average net income

An average net income below $5 million over the past two years.

Up to $6 million

This loan is up to $6 million for the Wells Fargo portion. The maximum SBA loan is $5 million (or up to $5.5 million for small manufacturers).

Subject to SBA maximum rates

Loan term less than 7 years: Wall Street Journal Prime + 2.25%

Loan term greater than or equal to 7 years: Wall Street Journal Prime + 2.75%

Documentation fee

Documentation fee waived for Wells Fargo Business Choice and Business Platinum checking account customers.

Fees based on loan amount

These fees may be financed in the loan.

3.5% of SBA debenture amount

This fee may be financed in the loan.