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SMALL BUSINESS LOANS REVIEWS
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Wells Fargo Small Business Loans: 2025 Review

Written by
Allison Martin
Edited by
Rob Watts

Updated Feb 17, 2025

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At a glance

2025 Bankrate Awards Winner badge

Wells Fargo Business: Bankrate 2025 Award Winner Best small business lender for good-to-excellent credit

4.2
Rating: 4.2 stars out of 5
Bankrate Score
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Accessibility
Rating: 4.1 stars out of 5
Affordability
Rating: 4.4 stars out of 5
Customer experience
Rating: 3.9 stars out of 5
Transparency
Rating: 4.3 stars out of 5
Flexibility
Rating: 5 stars out of 5
How Bankrate Scores work Arrow Down Icon

Overview

Wells Fargo offers business lines of credit and SBA loans with competitive rates for eligible business owners. It even offers a business line of credit to businesses that have been around for less than two years. These products are relatively flexible, and you can choose from secured and unsecured lending options.

Lender Details

  • Money Bag Icon

    Loan amount

    $5,000-$15 million

  • Rates Icon

    Interest rate

    8.00%-17.25% APR

  • Clock Wait Icon

    Term lengths

    Up to 25 years

  • Dollar Icon

    Min. annual revenue

    Not stated

  • Briefcase Icon

    Min. time in business

    Less than two years

Who Wells Fargo is best for

Wells Fargo is best for established business owners who’ve been in business for at least two years. There is an unsecured loan product for businesses that don’t quite meet the mark, but the amount of funding you can access is lower. If you’re seeking an SBA loan, Wells Fargo is also worth considering, as it’s one of the leading originators of SBA 7(a) loans.
 

Who Wells Fargo may not be best for

If you’re a startup or need funds for your business right away, Wells Fargo likely isn’t a good fit for you. The lender prefers established companies. 

Traditional banks are usually not a good fit for borrowers looking for fast business loans, as they may take days or weeks to fund loans. And if your personal or business credit rating is on the lower end, an online lender that offers bad credit business loans may be a safer choice.

Wells Fargo: in the details

Loan amount
$5,000-$15 million
Interest rate
8.00%-17.25% APR
Term lengths
Up to 25 years
Min. annual revenue
Not stated
Min. time in business
Less than two years
Personal credit score
680

Wells Fargo pros and cons

Pros

  • Checkmark Icon

    Multiple lines of credit

  • Checkmark Icon

    Attractive rates

  • Checkmark Icon

    Rewards program

Cons

  • Limited loan options

  • Annual fee may be required

  • Low loan amounts

Business loan types offered

Loan quick facts

  • Amounts: $10,000 to $150,000
  • Terms: Revolving
  • APR: 10.25% to 18.25% (Prime + 1.75% to Prime + 9.75%)

Wells Fargo BusinessLine® line of credit

This is an unsecured business line of credit for small business owners who have been up and running for two or more years. It doesn’t require you to put up business collateral, doesn’t charge draw fees or give you a limited amount of time to make draws. Instead, you get a revolving line of credit with no scheduled annual review. You pay an annual fee (waived the first year) of $95 if your line amount falls between $10,000 to $25,000 or an annual fee of $175 if your line amount is greater than $25,000. 

Even though this Wells Fargo business line of credit doesn’t require collateral, it does require a personal guarantee from any owner with 25 percent or more of the business. It’s designed to help small business owners cover unexpected expenses, supplement cash flow and capitalize on expansion opportunities.

Loan amounts aren’t the highest, as you’ll find business lines of credit that offer limits of $250,000 and higher. But you will be automatically enrolled in the Wells Fargo Business Rewards program, which allows you to earn one point for every dollar in eligible purchases made with the Mastercard Access card that comes with your business line of credit.

Loan quick facts

  • Amounts: $5,000 to $50,000
  • Terms: 5 years
  • APR: 12.00% to 14.00% (Prime + 4.50% to Prime + 6.50%)

Wells Fargo Small Business Advantage® line of credit overview

Backed by the U.S. Small Business Administration (SBA), this unsecured line of credit caters to business owners with less than two years in business. It has a smaller line limit than the BusinessLine and a higher starting APR rate, but you get a five-year revolving line without an annual fee. It also comes with a Mastercard access card that lets you earn rewards on qualifying purchases. 

Personal guarantees are required for any owner with 20 percent or more of the business. You must also operate as a for-profit entity and have personal household liquid assets not exceeding $500,000 to qualify.

Loan quick facts

  • Amounts: $100,000 to $1 million
  • Terms: 1 to 3 years
  • APR: 8.00%

Wells Fargo Prime Line of Credit overview

The Wells Fargo Prime line of credit is reserved for businesses with high annual revenue of $2 million or higher. It raises the credit line to one of the highest limits on the market, and it offers some of the lowest interest rates. 

But this line of credit is a secured line, so you will need business assets that you can use as collateral. This credit line also charges an origination and annual fee of 0.25 percent of the credit limit. 

You can choose to make monthly interest-only payments. You also get a three-year revolving term with credit limits between $100,000 and $500,000 and one-year terms for credit lines between $500,001 and $1 million.

Loan quick facts

  • Amounts: Up to $15 million
  • Terms: 10 to 25 years
  • APR: 10.50% to 15.50%

SBA loans overview

As a top originator of SBA loans, you may choose Wells Fargo if you’re in the market for a 7(a) or 504 SBA loan. Both loans come with fixed or variable interest rates, and they’re designed for businesses with less than $15 million in net worth and under $5 million in annual net income. 

The SBA 7(a) loan is designed to cover business expansion or acquisition, to buy real estate or to cover working capital expenses. The SBA 504 loan is used to purchase fixed assets, such as equipment or real estate, or to fund construction projects. 

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Bankrate Insight

SBA weekly lending reports show that for SBA fiscal year 2024, Wells Fargo approved 2,224 SBA 7(a) loans for a total of $567 million in funding. The average loan size was $254,960. Compared to other lenders, Wells Fargo is in fifth place for total loan approvals and in tenth for dollar amounts. 

Wells Fargo business line of credit requirements

Wells Fargo business lines of credit options include the BusinessLine of Credit, Small Business Advantage line of credit and the Prime line of credit, with credit lines ranging from $5,000 to $1 million and rates starting as low as Prime + 0.50 percent. Consider the requirements for each line of credit before applying:

 

Do you qualify? 

Eligibility requirements will vary by loan product. You'll need a personal score of 680 to qualify for Wells Fargo business lines of credit. The lender does not disclose minimum requirements for its SBA loans, though having strong revenue and finances will ensure you’re approved. You can get approved for its SBA-backed line of credit with less than two years in business. 

Lending and usage restrictions (if any) aren’t published on the website. You’ll need to inquire with a banker to learn more about the lender’s eligibility guidelines.

What we like and what we don’t like

Wells Fargo offers affordable loans to eligible business owners. But there are drawbacks to consider. 

What we like

  • Multiple lines of credit. There is a line of credit for newer businesses, established businesses and businesses that rake in $2 million or more.
  • Attractive rates. The minimum interest rates offered on the business lines of credit are lower than most lines of credit offered by online lenders. 
  • Rewards program. Unsecured lines of credit come with a built-in rewards program that lets you earn points for every dollar spent on qualifying purchases.  

What we don’t like

  • Limited loan options. Business term loans, working capital loans and equipment financing loans aren’t available through Wells Fargo. 
  • Annual fee. Wells Fargo’s BusinessLine line of credit and Prime line of credit come with annual fees.
  • Low loan amounts. Most of Wells Fargo’s lines of credit stop at $50,000 or $150,000, while most other lines of credit go up to at least $250,000. The exception is the Prime Line of Credit, which offers credit limits up to $1 million for high-revenue businesses that can secure the loan with collateral.
  • May require personal guarantee or collateral. Its business lines of credit either requires all owners with 20 percent to 25 percent ownership to sign a personal guarantee. Its Prime line of credit requires you to have collateral to back the loan.

How Wells Fargo compares to other lenders

Wells Fargo stands out as a traditional bank offering a few different business lending options. Businesses can choose between secured and unsecured options, including SBA loans and business lines of credit, that cover various needs. The lender is also part of the SBA's Preferred Lender Program, so businesses applying for a Wells Fargo SBA loan may get their loans approved and funded faster. 

Let’s see how Wells Fargo's business lines of credit stack up against other lenders.

Rating: 4.2 stars out of 5
4.2

Bankrate Score

  • Loan amount

    $5,000-$15 million

  • Interest rate

    8.00%-17.25% APR

  • Term lengths

    Up to 25 years

  • Min. time in business

    Less than two years

  • Min. business annual revenue

    Not stated

Rating: 4.3 stars out of 5
4.3

Bankrate Score

  • Loan amount

    Up to $250,000

  • Interest rate

    7.8%

  • Term lengths

    6 or 12 months

  • Min. time in business

    12 months

  • Min. business annual revenue

    $100,000

Read our review Arrow Right Icon

on Bankrate

Rating: 3.3 stars out of 5
3.3

Bankrate Score

  • Loan amount

    Up to $15 million

  • Interest rate

    11.50% to 16.50% APR

  • Term lengths

    Up to 25 years

  • Min. time in business

    Not stated

  • Min. business annual revenue

    Not stated

Read our review

on Bankrate

Wells Fargo vs. Bluevine

Wells Fargo and Bluevine approach business lending differently. While both offer business lines of credit, requirements and loan amounts differ. Bluevine is known for its business lines of credit, which give businesses access to up to $250,000, and its streamlined application process means funding can happen in as little as one day.

Wells Fargo's personal credit score requirement of 680 is higher than Bluevine's 625, making Bluevine the more accessible option. If you’re a startup, you could qualify with Bluevine if you have an existing checking account with the bank. Or you could go for Wells Fargo’s Small Business Advantage® line of credit, though the credit limit maxes out at $50,000.

Businesses specifically interested in SBA loans may find Wells Fargo a great option since Bluevine doesn't offer SBA loans. As an SBA Preferred Lender, Wells Fargo has the authority to process loan applications without SBA approval in some cases, which will speed up funding time.

Wells Fargo vs. Live Oak

Wells Fargo and Live Oak Bank excel for business owners seeking loans from an SBA Preferred Lender, which can speed up funding. In the 2024 fiscal year, Wells Fargo's approval count for 7(a) loans was 2,224, while Live Oak approved 1,440. But Live Oak's approval amount for these loans was $1.98 billion, significantly higher than Wells Fargo's $567 million. 

With Wells Fargo, businesses also have their choice between the lender's SBA loans or business lines of credit, which offer lines between $5,000 and $1 million. Two of its lines of credit work well for established businesses with several years in business and strong revenue, while its SBA-backed line of credit works well for startups. Live Oak Bank doesn’t currently offer business lines of credit.

Customers can also access in-person support through one of Wells Fargo’s thousands of bank branches. With Live Oak Bank, you can choose between an SBA 7(a), 504 or Express loan that expedites the loan process with minimal documentation. While Live Oak Bank operates in all 50 U.S. states, it doesn’t currently have any bank branches where you can go to service your loan. You can, however, get in touch with its customer service by phone.

How to apply for a loan with Wells Fargo 

You can apply for the Wells Fargo BusinessLine line of Credit or Wells Fargo Small Business Advantage line of credit online or by visiting a branch. The online application works for business owners interested in lines of credit up to $100,000. 

If you’re interested in the Wells Fargo Prime Line of Credit, call 1-866-902-9181 to apply. 

Wells Fargo frequently asked questions

How Bankrate rates Wells Fargo

Overall Score 4.2
Accessibility 4.1 Wells Fargo doesn’t disclose much information on its website, which makes it harder for borrowers to know if they’re eligible.
Affordability 4.4 Rates are lower, and loans come with fewer additional fees than many other lenders.
Transparency 4.3 Wells Fargo provides APR ranges for two of its lines of credit, which goes further than many other lenders.
Customer experience 3.9 Online access and an online payment option make for a decent customer experience.
Flexibility 5.0 Annual fee waiver the first year, potential credit line increases and Mastercard access cards provide a good level of flexibility for the lines of credit.

Methodology

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47
years in business
Credit Card Search Icon
30+
lenders reviewed
Loan Icon
22
loan features weighed
Rates Icon
770+
data points collected

To select the top small business lenders, Bankrate considers more than 20 factors. These factors include loan amounts, approval and funding times, credit requirements, APR or factor rate ranges, fees, and easy-to-find rate and fee disclosures. Bankrate reviewed more than 30 lenders and gave each a rating, which consists of five categories:

  • Accessibility: Factors considered in this category include minimum loan amounts, approval and funding speed, minimum annual revenue and minimum credit score.
  • Affordability: This section measures interest or factor rates and fees.
  • Transparency: How easy it is to find important rates, fees and eligibility requirements are considered in this category.
  • Customer experience: Customer service hours, online applications and app availability are considered in this category.
  • Flexibility: This category considers factors like the number of loan products and ability to change payment due date.

Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.

What small business owners think

CTA Wells Fargo Small Business Loans has 16 reviews

Wells Fargo Small Business Loans has 16 reviews

Dive into community reviews below and see what others think about Wells Fargo Small Business Loans.

4.3 Star Icon
16 ratings
Info Icon
Score breakdown
5 stars
44%
4 stars
50%
3 stars
0%
2 stars
0%
1 star
6%
Score by category
Customer experience 4.2 / 5
Accessibility rating 4 / 5
Affordability rating 3.9 / 5
Transparency rating 4.2 / 5
Flexibility rating 4.2 / 5

Community Reviews

See what users like you are saying about Wells Fargo Small Business Loans.
Search Icon
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Overall
Was the lender receptive to your business unique needs? If so how? If not, why not?
Yes they were, they provided all the information I needed and all the funds needed
Score by category
Flexibility rating 5 / 5
Transparency rating 5 / 5
Accessibility rating 5 / 5
Affordability rating 5 / 5
Customer experience 5 / 5
Overall
Were you able to contact the lender for customer support? What was the process like?
Seamless, fast, and intuitive experience across various devices. Clear labels and transparent sourcing
Score by category
Flexibility rating 5 / 5
Transparency rating 5 / 5
Accessibility rating 5 / 5
Affordability rating 4 / 5
Customer experience 5 / 5
Overall
Were you able to contact the lender for customer support? What was the process like?
Yes, they have a dedicated staff willing to help you with any questions or concerns you have regarding your loan
Score by category
Flexibility rating 3 / 5
Transparency rating 4 / 5
Accessibility rating 3 / 5
Affordability rating 2 / 5
Customer experience 4 / 5
Overall
Was the lender receptive to your business unique needs? If so how? If not, why not?
The lender has been a very good partner in helping me achieve my financial goals.
Score by category
Flexibility rating 5 / 5
Transparency rating 4 / 5
Accessibility rating 5 / 5
Affordability rating 5 / 5
Customer experience 5 / 5
Overall
Was the lender receptive to your business unique needs? If so how? If not, why not?
Yes, they made suggestions regarding business expenses I hadn't thought of and the loan covered those expenses.
Score by category
Flexibility rating 4 / 5
Transparency rating 5 / 5
Accessibility rating 4 / 5
Affordability rating 3 / 5
Customer experience 5 / 5
Overall
What was your biggest pain point during the application process?
Nothing at all it was smooth from start to finish with clarity and transparency
Score by category
Flexibility rating 4 / 5
Transparency rating 4 / 5
Accessibility rating 4 / 5
Affordability rating 4 / 5
Customer experience 4 / 5
Overall
Did you feel that the lender was knowledgeable about their product and loan terms? Why or why not?
Yes, very knowledgeable. Gave me accurate and honest information.
Score by category
Flexibility rating 5 / 5
Transparency rating 5 / 5
Accessibility rating 3 / 5
Affordability rating 4 / 5
Customer experience 4 / 5
Overall
Was the lender receptive to your business unique needs? If so how? If not, why not?
Inadequate understanding of industry-specific needs
Score by category
Flexibility rating 3 / 5
Transparency rating 5 / 5
Accessibility rating 5 / 5
Affordability rating 3 / 5
Customer experience 4 / 5
Overall
Did you feel that the lender was knowledgeable about their product and loan terms? Why or why not?
Yes Were they able to provide details on fees, repayment schedules, and potential risks
Score by category
Flexibility rating 5 / 5
Transparency rating 4 / 5
Accessibility rating 5 / 5
Affordability rating 4 / 5
Customer experience 5 / 5
Overall
Did you feel that the lender was knowledgeable about their product and loan terms? Why or why not?
Yes, they were very knowledgeable and knew exactly what I needed financially to get started and they gave me extra just in case.
Score by category
Flexibility rating 5 / 5
Transparency rating 5 / 5
Accessibility rating 4 / 5
Affordability rating 4 / 5
Customer experience 5 / 5

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