Chase Small-Business Loans Review 2021

With little transparency or convenience to offer, Chase is far from our favorite small-business lender.
JP Morgan Chase Bank Business
2.1 out of 5 stars
  • Check
    Many types of loans and credit lines
  • Check
    SBA preferred lender
  • X
    No online loan applications
  • X
    Lack of transparency

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JPMorgan Chase, more commonly called Chase Bank, is the biggest bank in the United States.1 So it makes sense that you’re considering Chase for your small-business lending needs. But does this big bank have what it takes to give you a good funding experience, or should you get your loan somewhere else?

We lean toward the latter (for reasons that will soon become clear), but let’s dive deep into Chase small-business loans to help you decide. 

In this review, we’ll look at what kinds of financing Chase offers, how it compares to other lenders, and what customers have to say.

Chase has lots of loans, but we prefer other lenders

Pro Bullet Many types of loans and credit lines
Pro Bullet SBA preferred lender
Pro Bullet Business banking and other services
Con Bullet No online loan applications
Con Bullet Lack of transparency
Con Bullet Negative reputation and reviews

In theory, JPMorgan Chase sounds like a good lender. It offers all kinds of business funding options (including several types of business loans and business lines of credit), so you can choose the financing that fits your needs. That’s a big plus, since so many online lenders offer just one or two types of funding.

Plus, as a bank, Chase offers all sorts of other things your business needs―from a business checking account to a business credit card to merchant services. That means you can keep all your business finances (and personal finances too) in one place. Sounds convenient, right?

So what’s our beef with Chase? It comes down to two things.

Lack of transparency

First, JPMorgan Chase keeps a lot of important information private. 

It doesn’t list, for example, any borrower requirements. That makes it hard to know if you can qualify for its financing. Sure, you can mosey down to a branch and talk to a loan officer to find out―but why should you have to potentially waste your time with that when Chase could just publish borrower requirements like so many other lenders?

Qualifying for a JPMorgan Chase business loan

Min. credit score
Min. revenue
Min. time in business
Get a loan

Data effective 3/12/21. At publishing time, requirements are current but subject to change. Offers may not be available in all areas.

(We can guess that Chase has similar requirements to other banks, which means you need a business that’s at least two years old, a personal credit score in the high 600s, and more than $200,000 in business revenue. But of course, we can’t say for sure.)

Likewise, Chase doesn’t list interest rates on any of its loans. We assume they’re competitive, yes, because JPMorgan Chase is a traditional bank (which usually have lower interest rates than online lenders). But without specific interest rates, how are you supposed to comparison shop between Chase and another bank or lender?

As a business owner, you’re too busy to spend time on a loan application for a loan it turns out you can’t qualify for or don’t want (because of the interest rate). 

So if we were you, we’d go with a more transparent bank―like Bank of America, which publishes both interest rates and borrower requirements.

Bad reputation

Second, JPMorgan Chase doesn’t have the best reputation.

In part, we say that because of Chase’s customer reviews. As you’ll see later in this review, Chase gets pretty low ratings from its customers. Doesn’t inspire much confidence, does it? (In contrast, many online lenders get rave reviews from borrowers.)

Worse, though, is all the scandals and lawsuits Chase has gone through in recent years. We detail some of those in our Chase business account review, but they include things like overcharging customers on its mortgage bank loans and discriminating against mortgage borrowers. Yikes. 

So while Chase hasn’t had a business loan-specific scandal just yet, its lending practices as a whole have been pretty sketchy―not ideal for a lender you’re trusting your finances and credit score with.

Our take

The issues we’ve listed are enough to keep us from recommending JPMorgan Chase as a business lender.

Still, we can’t deny the pros we mentioned either. If you want lots of funding options or to take care of all your business finance needs at one place, Chase sure looks appealing.

So if you still think Chase sounds like a bank you might want to do business with, let’s go ahead and look at the specific financing options you can access.

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Chase business loan options

Chase offers a variety of term loans, business lines of credit, real estate financing, and SBA business loans (loans backed by the US Small Business Administration).

As we already told you, Chase doesn’t advertise interest rates on any of these loans. We guess it offers low, competitive rates―but we can’t tell you for sure. 

Oh, and one other thing worth noting before we talk about Chase’s specific financing solutions: You can’t apply for any of these loans or credit lines online. You have to find a local Chase branch and apply there (like it’s 2006 or something).

Okay, now for the loans.

Chase financing

Min./max. loan size
Lowest listed rate
Repayment term
Learn more
Business line of credit$10,000/$500,000Unlisted5 yr. renewable
Commercial line of credit$500,000 and upUnlisted12–24 mos. renewable
Business loan$5,000 and upUnlisted12–84 mos.
Real estate financing$50,000 and upUnlisted7–10 yrs.
SBA 7(a) loansUp to $5 millionUnlistedUnlisted
SBA 504 loansUp to $12.5 millionUnlistedUnlisted
SBA Express loansUp to $350,000UnlistedUnlisted

Data effective 3/10/21. At publishing time, pricing is current but subject to change. Offers may not be available in all areas.

First up, Chase offers a couple different business lines of credit (which give you revolving credit you can borrow from again and again). It has a smaller business line of credit and a larger commercial line of credit. The business line of credit comes with an (unspecified) annual fee, but you can waive the fee by using at least 40% of your credit line.

Note that both credit lines have limited terms, so you’ll have to renew them if you want to keep borrowing once your term is up.

Chase has several business loans too. The most basic version is its term loan, which you simply borrow and repay (making it good for working capital). It also has equipment financing for your equipment purchases (and you can get 100% of the equipment cost plus another 10% to cover soft costs).

For a little more flexibility, you can choose Chase’s draw loan (which lets you draw funds like a line of credit for one year before converting to a term loan) or its advised line (which works similarly, but each purchase in that year becomes its own loan with specific rates and terms).

Payment schedule

One nice thing about Chase? It offers a monthly payment schedule, unlike online lenders that often insist on weekly (or even daily) payments. That can free up cash flow for your business.

Then there’s Chase’s real estate financing. You can use its commercial real estate loans to buy, sell, or refinance commercial real estate. Keep in mind, though, that you can only use these loans on owner-occupied real estate.

Finally, Chase offers several SBA loan options, including SBA 7(a) loans, SBA 504 loans, and (the much smaller) SBA Express loans. You can use these loans for working capital, equipment, real estate, or refinancing.

By the way, we should point out that Chase is actually an SBA preferred lender (and one of the 100 top SBA lenders in the country2). That means Chase doesn’t have to get SBA approval on its SBA loans―which means a faster approval and funding time for you. That’s a big perk, since the SBA loan program usually comes with notoriously long wait times. 

Anyway, like we said, Chase has quite a few funding options. Before you start that loan application, though, let’s take a look at what Chase customers think of JPMorgan Chase.

Chase customer reviews

As we mentioned earlier, Chase customers don’t really like Chase Bank. It’s got downright bad reviews. On Trustpilot, Chase earns a 1.3 out of 5.3 And on its Better Business Bureau profile, it earns 1.18 out of 5 (which, to be fair, is similar to what other big banks earn).4

Most of the reviews come down to really, really bad customer service. People report having issues with their credit cards, loans, bank accounts, and being unable to get the help they need from Chase. Likewise, we saw complaints that Chase mishandles fraud and identity theft and that it overcharges fees.

That said, Chase does have some positive reviews too. And weirdly enough, most of them praise Chase’s customer service―the same thing other customers hate. We found stories of customers saying Chase quickly resolved issues with credit cards and fraud claims, in particular. 

Still, the number of bad reviews far (far!) outweighs the good.

To be clear, most of these reviews are not business-specific, much less business loan-specific. But still, they give you a good picture at what kind of bank you’re dealing with. And based on what customers say, it’s not a pretty picture.

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Chase business loan FAQ

Does Chase do mortgage loans?

Yes, Chase offers both personal mortgages and commercial mortgages (aka commercial real estate loans).

How do I get a business loan from Chase Bank?

To get a small-business loan from Chase, you’ll need to submit a loan application with your local Chase branch. It doesn’t accept online applications.

As with any loan application, expect to provide lots of supporting documentation. So make sure you have documents like these handy:

  • Personal and business tax returns
  • Personal and business bank statements
  • Business plan
  • Business forecast
  • Any legal documents (like articles of incorporation)

Is Chase accepting PPP loan applications?

Chase accepted PPP loan applications through March 19, 2021. (The final deadline for Paycheck Protection Program applications through any lender is March 31, 2021.)

That said, if a version of the PPP loan program returns in the future, we expect Chase to participate again.

The takeaway

When all is said and done, is Chase’s small-business lending right for your business?

For most businesses, we’d say no. Chase doesn’t provide enough information about its loans―like borrower requirements and interest rates―to show that it’s worth applying with. Plus, Chase gets very poor customer reviews. And, you know, it has a history of major scandals.

So for most small-business customers, we recommend choosing a different lender instead. Still, if you like the specific loans Chase offers (because it has a lot of options) or you like that Chase lets you do your banking and borrowing in the same place, then you may decide to go with Chase anyway. 

Either way, we hope you get the business loan you’re looking for.

Want to see some Chase alternatives? We don’t blame you. Find our favorite lenders on our rankings of the best small-business loans.


At, our research is meant to offer general product and service recommendations. We don't guarantee that our suggestions will work best for each individual or business, so consider your unique needs when choosing products and services.


  1. Bankrate, “Top 15 Largest Banks in the US.” March 2, 2021. Accessed March 12, 2021.
  2. US Small Business Administration, “100 Most Active SBA 7(a) Lenders.” Accessed March 12, 2021.
  3. Trustpilot, “Chase.” Accessed March 10, 2021.
  4. Better Business Bureau, “JPMorgan Chase & Co.” Accessed March 10, 2021.
Chloe Goodshore
Written by
Chloe Goodshore
Chloe covers business financing and loans for She has worked with many small businesses over the past 10 years, from video game stores to law firms. Those years watching frustrated business owners try to sift through their many options gave her a passion for breaking down complex business topics. She wants to help business owners spend less time agonizing over their businesses so they can spend more time running them.
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