Wells Fargo® BusinessLine Line of Credit — FAQ

Application Questions

What happens after I apply?
You will receive written notification within 10 business days from Wells Fargo and if approved it will state the approved amount.
Is collateral required?
No, you do not need to provide collateral — it is an unsecured line of credit.

Account Pricing Questions

What fees apply to my BusinessLine line of credit?
There is an opening fee of $150 on approval ($250 for lines over $25,000). Talk to your banker to see if you qualify for a fee waiver.

There is no annual fee for the first 12 months your account is open. The annual fee is $150, starting in the second year.
What will the interest rate be on my account?
Your interest rate will be determined based on a business and personal credit evaluation. Your interest rate will be variable and will range between Prime + 1.75% and Prime + 9.75%.
What is the minimum payment?
Your minimum payment will be equal to 1% of your monthly ending balance, plus the total of interest, fees, and any past due amount, with a minimum of $50 or your ending balance, whichever is less. You can always pay more than the minimum amount. These minimum payment terms apply to new accounts and are subject to change. If you are an existing customer, please call our National Business Banking Center at 1-800-225-5935 with any questions on your account.

Account Usage Questions

How can I access the funds in my BusinessLine line of credit?
You can access funds using several convenient methods:
Are there cash advance fees to access the funds in my BusinessLine?
There are no cash advance fees when you access funds using your personalized checks, BusinessLine access card for purchases or transfer funds online or by phone. A cash advance fee of 3% of the amount of the advance ($10.00 minimum, no maximum) applies to cash advances using an ATM or over the counter using the BusinessLine access card.
How do I request access cards for additional owners?
You can specify the number of additional BusinessLine access cards when you apply. If you are an existing BusinessLine customer and want to request additional cards, contact the National Business Banking Center at 1-800-225-5935.

Account Maintenance Questions

Where do I send my monthly payments?
Please send your payment to the following address:

Wells Fargo Bank Payment Remittance Center
PO BOX 54349
Los Angeles, CA 90054-0349
You can also pay your bill:
  • By calling the National Business Banking Center at 1-800-225-5935
  • Through Wells Fargo Business Online® with a transfer from a Wells Fargo account or using Business Bill Pay
  • With our free Automatic Payment service

Account Security/Fraud Questions

What do I do if I suspect that there has been an unauthorized transaction on my BusinessLine account?
If you have a transaction on your account that you or your employees did not authorize, please contact the National Business Banking Center at 1-800-225-5935 immediately.
What if there are unauthorized charges on my stolen card or checks?
Through the free WellsProtect® program you are not responsible for unauthorized transactions that are reported within 60 days from the first statement showing the unauthorized transaction. If your card (or card number) is ever lost or stolen, your account is safe. Just report your missing card right away or tell us as soon as you notice any unauthorized activity by calling the National Business Banking Center at 1-800-225-5935.
What happens if one of my employees or I lose an access card?
If you have a missing access card, report it immediately to the National Business Banking Center at 1-800-225-5935. We will cancel your card and send you a new one.
1 A cash advance fee of 3% of the amount of the advance ($10.00 minimum, no maximum) applies to cash advances using an ATM or over the counter using the BusinessLine access card.
2
New, first-time Business Bill Pay users will not incur monthly fees for two months, starting the month you make your first payment with the service. Monthly fees are $6 per monthly billing cycle beginning the first month you make a payment (includes 25 payments; each additional payment costs $0.40). Monthly fees are waived when you have a qualifying checking account or maintain at least $25,000 in combined balances in your qualifying business and personal accounts at all times. For more information about eligible and qualifying accounts, read our Bill Pay Fee Waiver. Charges may apply for same-day payments. Account fees (e.g. monthly service, overdraft, excessive usage) may apply to the account used to make Bill Pay payments. For more information on account fees, please refer to the account agreement you received when you opened your account.