Finance the growth of your small business — provided you have time to visit a branch.
- Best for established businesses in the healthcare industry.
- Pick something else if you want clear, transparent terms and an online preapproval process.
|Product Name||BBVA Compass business loans|
|Loan Term||Up to 10 years|
How much will this loan cost me?
BBVA offers term loans with predictable monthly payments and decent loan terms — up to five years for most businesses or up to 10 years for businesses in healthcare. Secured and unsecured loans are available, and some businesses may be eligible for a 0.25% discount of their APR. However, BBVA doesn’t list potential rates or how much a business may be able to borrow.
To get an idea of what your loan might cost, you’ll need to reach out to BBVA through email, phone or by visiting a local branch. When we called, a representative said APR typically ranges from 5% to 12% for its fixed-rate term loans. Your business will also have to pay an origination fee, but the exact amount will depend on your loan.
Not sure how much your businesses needs? Before you contact BBVA, use this calculator to determine the terms that would best suit your business.
Business loan calculator
See how much you’ll pay
|Loan terms (in years)|
Fill out the form and click on “Calculate” to see your estimated monthly payment.
How it works
While BBVA doesn’t provide many details about its loans, the best rates will likely go to established businesses with consistent streams of revenue. If you and your business partners have high personal credit scores, you may also be eligible for a low rate, potentially under 9%. Businesses in the healthcare field and other professional industries may qualify for a 0.25% rate discount on their APR — further helping lower the cost.
Because BBVA is a bank, it will be more difficult to qualify for a loan if you aren’t established and have a low monthly or annual revenue.
What do I need to qualify?
To qualify for a term loan from BBVA, your business will need to meet these basic criteria:
- At least one year in business
- Based in a serviced state
- Good to excellent personal credit
If you’re based in a nearby state and have an open business account with BBVA, you may still qualify for a loan. Check with your closest branch to ensure your business is within its region.
In which states are BBVA business loans available?
BBVA has over 700 branches throughout:
- New Mexico
What information do I need to apply?
BBVA doesn’t directly state what information you’ll need to have when you apply, but you can expect to need these documents:
- Proof of annual revenue
- Business plan
- Financial forecasts, including cash flow
A BBVA representative will be able to outline the exact information you need based on your business. Our representative told us that it generally asks for two years of tax returns. So while newer businesses may qualify, there is a preference for established businesses that have been open for at least three years.
What industries does BBVA work with?
BBVA has a preference for businesses in healthcare and other working professionals. However, there is no set list for which industries it will and will not accept. High risk businesses, like those involved in cannabis or adult entertainment, may not be qualified to get a loan.
What other types of financing does BBVA offer?
BBVA has three financing options for businesses:
|Secured or unsecured?||Purpose|
Lines of credit
Secured and unsecured lines available
Quickly accessing funds for regular expenses
Commercial real estate loan
Purchasing equipment and property
SBA 7(a) loans and 504 loans
Secured and unsecured loans available
Financing working capital or property with a government-backed loan
- Competitive rates from 5% to 12%
- Loan terms up to 10 years for businesses in healthcare
- Potential rate discount up to 0.25%
- No online application process
- Limited to businesses in serviced states
- Few loan details available online