Wells Fargo Business Loan® Term Loan — FAQ

Application Questions

Do I need to be a Wells Fargo customer to apply for a Wells Fargo BusinessLoan term loan?
No, you do need to be a Wells Fargo customer to apply for a Wells Fargo BusinessLoan term loan. At this time, we accept applications for a Wells Fargo BusinessLoan term loan at one of our more than 6,600 stores. Please visit a location near you where a banker can assist you with your application.
What happens after I apply?
  • After you submit an application, our initial review process typically takes approximately 3 business days.
  • If we approve your application, a Wells Fargo Business Banker will contact you to inform you of your approval and loan terms.
  • Once you accept the loan terms, you will receive a check via express mail. Simply deposit the check to access funds.
  • If you application is not approved, you will receive an explanation letter within 10 to15 business days.

Account Pricing Questions

Are there opening, annual, pre-payment, loan documentation or closing fees?
  • There is a $150 opening fee, which can be waived if you open a Wells Fargo BusinessLoan term loan as part of a Wells Fargo Business Services Package.
  • There are no annual, pre-payment, loan documentation or closing fees with the Wells Fargo BusinessLoan term loan.
What will my interest rate (APR) be?
  • Your interest rate will be fixed, which helps with financial planning and expense control, since the payment amount is predictable.
  • Receive a 0.25% rate discount by setting up Automatic Payments from your new or existing Wells Fargo business checking account at or before loan booking.
Can I choose the length of my loan term?
Yes, you can choose from 2, 3, 4, or 5-year term options.

Account Usage Questions

How do I use my Wells Fargo BusinessLoan term loan?
Once you deposit your Wells Fargo BusinessLoan term loan disbursement check or get funds disbursed, you can use your loan for any business need, including capital expenditures, business expansion, long-term working capital, leasehold improvements, or any other project that requires a longer-term financing solution.

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
Are there other ways I can make payments?
Yes. You can pay your bill:
  • By calling the National Business Banking Center at 1-800-225-5935
  • Through Wells Fargo Business Online® Banking 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 fraud related to my Wells Fargo BusinessLoan term loan account?
If you have questions about your account, please contact the National Business Banking Center at 1-800-225-5935 immediately.