United States · Product comparison · Checked October 29, 2026
Business Line of Credit: Compare Fees, Access and Guarantees
Compare a line using the amount you expect to draw and the time it will remain outstanding. Then check the full approved limit, recurring fees, renewal or access period, rate changes and guarantees. A higher limit or lower introductory rate is not enough to establish the lowest cost for your business.
The comparison below covers published U.S. business credit-line options from three banks. It is not an approved offer. Mediplaton does not issue these products or accept U.S. loan applications.
Three named products, different conditions
| Product | Published limit and access | Annual fee | Selected qualification details |
|---|---|---|---|
| Bank of America Business Advantage Credit Line | $10,000–$250,000; revolving with annual renewal. | $150, not charged the first year. | Two years under current ownership; $100,000 prior-year business revenue; personal FICO above 700 typically required. |
| Wells Fargo BusinessLine | $10,000–$150,000; unsecured revolving line; no annual review. | First year waived; $95 for $10,000–$25,000 lines, $175 above $25,000. | Six months in business or more; guarantors typically have FICO of at least 680; personal guarantees required. |
| Chase Business Line of Credit | $10,000–$500,000 for existing Chase for Business customers; five-year access with potential renewal, then five years to repay. | Greater of $200 or 0.25% of approved limit, capped at $750; a usage-based waiver may apply after year one. | At least $100,000 annual revenue, FICO at least 660, and no majority ownership/management change in the past two years. |
Sources: Bank of America, Wells Fargo and Chase. These are selected public features, not complete underwriting rules. All remain subject to approval and current agreements.
How a credit line differs from a term loan
A revolving line lets the business draw within available credit and reuse capacity as principal is repaid, subject to the agreement. That access can suit repeated timing gaps. A term loan generally delivers a defined lump sum with its own repayment schedule. Compare the actual contract instead of assuming the same payment formula applies to both.
Write a draw plan before requesting the largest possible limit. State what will be paid, when the customer receipts are expected and how much balance would remain if those receipts arrive late. Do not treat an approved line as cash already held in your operating account.
Look beyond the advertised rate
Request the current index, margin, any rate floor and the date a promotional rate expires. Bank of America's reviewed page includes an introductory offer; obtain the applicable duration and later rate in your proposal. Wells Fargo advertises a rate as low as Prime plus 1.75%; this is not a guaranteed spread for every borrower. Chase's standard business line is indexed to Prime. A current proposal is needed to compare your actual rate.
Use the same draw amount, time outstanding and fee assumptions for each proposal. If one offer has a larger approved limit, an annual charge based on that limit can affect the comparison even while you draw the same amount.
Estimate simple interest and fees for a draw
This tool uses a constant drawn balance, an unchanged annual rate and a 365-day year. Enter the fee actually charged during the comparison period. The result is not a minimum-payment schedule, payoff quote or APR; lenders may use a different day-count convention and daily balances.
Annual renewal, no annual review and fixed access periods
These terms describe different product features. Bank of America publishes annual renewal; Wells Fargo lists no annual review; Chase describes a five-year access period with potential renewal and a subsequent repayment period. Ask each provider when new advances can stop, whether limits can change and what balances become payable in a default or termination case. “No annual review” is not a promise of irrevocable access.
For Chase's standard line, the reviewed page states a minimum monthly payment of 1% of principal plus accrued interest. Do not apply that calculation to a different bank's line. Request the actual agreement and a payment example from each lender.
Unsecured does not settle the guarantee question
Wells Fargo states personal-guarantee requirements, including ownership-related rules described on its product page. For every provider, ask who must sign, what is guaranteed and what obligations survive closure of the business. Have unclear provisions reviewed by a qualified adviser. Do not infer “no personal guarantee” from the word unsecured.
Use a fee waiver carefully
Chase describes an annual-fee waiver after the first year when average usage reaches at least 40% over 12 months. Ask the bank to explain how it measures usage. Do not borrow solely to chase a waived fee without comparing the additional interest and risk. More borrowing can cost more than a fee reduction saves.
What to collect before you apply
- Eligibility evidence: current ownership dates, business revenue records and the requested documents for owners or guarantors.
- A draw forecast: the expected balance, use of funds, collection dates and a slower-payment case.
- A comparable quote: approved limit, current rate structure, fees, payment rule and access or renewal terms.
- A safe submission route: confirm the provider's official website and secure process before sharing tax, identity or bank records.
Common questions
Which bank is cheapest?
The answer depends on your approved rate, usage and applicable fees. This guide does not establish a cheapest provider from marketing rate floors or limits.
Should I accept the highest limit?
Compare it with the documented cash need and terms. An unused limit may still carry fees or other obligations, and access remains governed by the agreement.
Where do I apply?
Use the official product pages above to check the current application route. These are editorial source links, not affiliate application links. Compare other structures in our small-business loans guide and SBA program comparison.
Checked October 29, 2026. Product terms and eligibility may change. Mediplaton's contact service concerns Korean business-finance enquiries and is separate from these U.S. banks.