Small business loans to manage working capital or cover a large expense.

Bank loans are the holy grail for business owners: Most want them, few get approved. But if you’re more comfortable getting financing from a bank — and are located in the Northeast or Florida — Santander might be a good place to start.
However, it’s not a great option if you want to make a thorough comparison or need funds quickly — you can’t get a great idea of your eligibility or rates until you apply, in person.


Min. Amount


Max. Amount


Product Name Santander Bank Business Loans
Min. Amount $10,000
Max. Amount $750,000
Loan Term 3 to 10 years
Requirements 13+ months in business, though 2+ years preferred, located in a eligible state

Application Criteria

  • At least 13 months in business, though at least two years preferred
  • Located in a eligible state

Do I qualify?

Santander only has two hard eligibility requirements:

  • Your business must be at least 13 months old
  • Your business must be located in an eligible state

What makes Santander Bank business loans unique?

Santander bank business loans are geared toward moderate-to-large business expense and could be a great resource for expanding an established business.

Don’t have a well-established business? Santander is an Small Business Administration preferred lender and could be a good resource for younger businesses that need to get their hands on larger sums of cash available through SBA loans.

What types of business financing does Santander Bank offer?

Santander Bank offers the basics of business lending, including term loans, lines of credit and equipment loans. It also offers financing through the SBA loan program, which might be a good place to start if your business hasn’t been around for 13 months or otherwise has trouble getting financing. For its non-SBA loans, businesses generally can’t qualify for more than 10% of their annual revenue.

Business term loan

Santander Bank’s business term loans start at $10,000 and are designed to help your business cover the costs of large projects, purchases or to refinance debt. They come with fixed interest rates that stay the same while you pay it back, so you don’t have to worry about unpredictable repayments. Loan terms range from three to seven years, and there’s no penalty for paying it off early.

Business line of credit

Santander’s lines of credit are designed to help cover your business’s daily expenses when you don’t have a steady cash flow. It works by giving your business access to a certain amount of cash, which you can withdraw from at any time. Santander offers lines of credit from $10,000 to $750,000. Credit lines of $150,000 or less are unsecured. To qualify for a limit over that amount, your business needs to provide collateral and submit a financial statement.

Unsecured lines of credit come with a variable APR of prime plus 0% to 3.5%. Secured lines come with an introductory APR of prime plus 0% to 3%. Once the introductory rate expires, you’ll get a rate of prime plus 0.5% to 8%. Both lines of credit also come with a $250 origination fee and a $250 annual fee.

Business equipment financing and leases

Though it’s not clear from the name, small businesses can use this option to cover the cost of buying or leasing both equipment and vehicles. Businesses between 13 months and two years old can qualify for financing starting at $50,000 and up to 80% of financing costs, including taxes, training, warranties, software and any other related expense. Have a business that’s older than two years old? It can qualify for 100% of financing costs. Loan terms range from 3 to 10 years.

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