Quick! When we say, “Wells Fargo,” what do you think of?
A. The third-largest American bank2
B. A jaunty tune from the 1950s musical The Music Man
C. The bank recently fined for opening fraudulent accounts in customers’ names
D. A bank where you have a personal loan, auto loan, or personal checking account
These are all reasonable answers (B, personally), but as a small-business owner, you should probably choose option E:
E. A major source of funding for US small businesses
After all, Wells Fargo offers business loans, lines of credit (LOCs), and other funding products for small businesses—all at rates that can compete with the best lenders.
In this review, we’ll discuss those small-business financing products and everything else you need to know before applying for a Wells Fargo loan. Plus, keep reading to see why—despite its low rates and long terms—we don’t recommend Wells Fargo for most small-business owners.