Funding with a low maximum APR for large projects.
finder.com’s rating: 2.76 / 5.0
★★★★★
- Best for businesses that need funding over $20,000.
- Pick something else if you have an emergency expense.
$20,000
Min. Amount
$100,000
Max. Amount
Details
| Product Name | PNC Bank business loans |
|---|---|
| Min. Amount | $20,000 |
| Max. Amount | $100,000 |
| Loan Term | Up to 5 years |
| APR | 8.18% to 15.57% (As low as) |
| Requirements | Business is 3+ years old, meet revenue standards, no bankruptcy claims, no outstanding financial obligations |
How much will this loan cost me?
PNC Bank unsecured business loans come with rates from 8.18% to 15.57% APR — including an origination fee. You can borrow between $20,000 and $100,000 without collateral and repay it over terms of two to five years.
Use the calculator below to see how much a loan might cost your business at different rates, terms and loan amounts.
Business loan calculator
See how much you’ll pay
| Your loan |
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| Loan amount |
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$
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| Loan terms (in years) |
| Interest rate |
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$%
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Fill out the form and click on “Calculate” to see your estimated monthly payment.
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How it works
Factors like your business’s revenue, time in business and your personal finances can affect the business loan you get. If you just meet PNC’s time in business requirement, for example, you’ll likely get a rate on the higher end. And you’ll need to show that your business has the cash flow to handle repayments on the loan amount and term you’re applying for.
What do I need to qualify?
PNC Bank doesn’t have any hard requirements, but it prefers working with businesses that meet the following criteria.
- At least three years in business
- Personal debt-to-income ratio of 40% or lower
- Personal credit history of at least five years
- No recent payments over 30 days past due on personal credit report
- No business bankruptcies, judgements, tax liens or lawsuits
- No personal records of bankruptcy, collection accounts, foreclosures or tax liens
Having a large amount of unpaid business debt can also affect your ability to qualify for a loan.
What information do I need to apply?
Have the following information ready before you apply for an unsecured business loan with PNC Bank.
- Business legal name and contact information
- Business legal type and establishment date
- How long it’s been under current ownership
- NAICS industry code
- Business tax ID or Social Security number
- Annual sales or gross revenue
- Number of employees
You’ll also need to provide personal information and IDs for all owners with a stake in the company of 25% or more.
What industries does PNC Bank work with?
PNC Bank doesn’t specifically exclude any industries from its loan amount. But if your business is in an industry that doesn’t have steady revenue throughout the year, you’ll need to meet a higher standard for revenue requirements than other industries. These requirements vary depending on the business.
What other types of financing does PNC Bank offer?
In addition to unsecured term loans, you can also find the following products at PNC Bank:
| Type of loan | How it works | Loan amount | Loan terms |
|---|---|---|---|
|
Secured term loan
|
One-time financing secured by your business’s assets for large expenses
|
$100,001 to $3 million
|
Up to 7 years
|
|
Unsecured line of credit
|
A business that has equity in its residential or owner-occupied commercial real estate that needs financing to expand the business or explore new opportunities
|
$20,000 to $100,000
|
Revolving
|
|
Secured line of credit
|
Access to cash as your business needs it, secured by your business’s assets.
|
$100,001 to $3 million
|
Revolving
|
|
SBA loans
|
Government-backed financing through the SBA 7(a), Express, Export Express, Veterans Advantage and 504 programs
|
Up to $5 million, depending on the program
|
Up to 25 years, depending on the program
|
|
Commercial real estate loan
|
A business that wants to buy or refinance owner-occupied commercial property
|
$100,001 to $3 million
|
Up to 10 years, with up to a 20-year amortization
|
|
Business vehicle loan
|
Up to 100% financing for new and 90% financing for used vehicles for business use
|
$10,000 to $250,000
|
Up to 6 years
|
Pros and cons
PNC Bank might offer a great deal to some businesses, but it’s not right for all expenses.
Pros
- Rates no higher than 15.57% APR
- Secured and unsecured financing
- Wide range of financing available besides unsecured term loans
Cons
- Requires at least three years in business
- Limited information available online
- No online application if you’re new to PNC
