Small Business Lending
Small Business Financing Solutions for Local Businesses Like Yours
Credit Solutions to Help Small Businesses Grow
Small businesses are the backbone of the economy. As a community-centered organization, Burke & Herbert Bank has been helping small businesses for 168 years. Our small business loans and lines of credit were tailored specifically for the needs of small businesses. We offer attractive interest rates and terms, expert support and fast loan decisions – no more than three business days, we promise.1
Small Business Line of Credit
A line of credit offers a dependable source of cash when opportunity knocks, when your cash flow tightens, for peace of mind with overdraft protection, or when another need arises. Your credit line replenishes as you repay, so it's always there for you:
- Lines of credit from $10,000 to $150,000 (unsecured) or up to $500,000 (secured) with a 24-month term
- Variable interest rates based on Prime2
- Interest-only payments
- No annual fee
- Easy access to your funds through Business Online Banking, Mobile Banking or by check
Small Business Term Loans
Term loans are ideal for purchasing equipment, vehicles and more:
- Loans from $10,000 to $500,000 (secured), with terms of 18, 24, 36, 48, or 60 months
- Attractive fixed interest rates based on Prime2
Owner-Occupied Real Estate Loans
Ready to purchase your office space? Our owner-occupied real estate loans3 offer flexible financing options:
- Loans from $50,000 to $500,000 (secured)
- Balloon loans with terms of 5 or 10 years with a 20-year amortization
- Term loans of 10 or 15 years
Save Money With Preferred Rates
And, you can save money with an additional 0.25% discount when you choose automatic payments to your Small Business loan or line from your Burke & Herbert Bank business checking account.
- Eligibility Requirements
Entities are eligible to apply online for a small business loan or line of credit if:
• Your primary location is within our lending area
• You have been in operation for two years or more
• The annual sales for your business are $3 million or less
• Your new loan request is for an amount up to $500,000 if secured or up to $150,000 if unsecured
If your business lending request does not fit into the elements above, please call us at 703-684-1655.
- Ready to apply now?
Here's what you need to know before you get started:
• The application process may take 10-20 minutes to complete. You will not be able to save and return to the application.
• If you are applying jointly, complete the application with your joint applicant(s).
• Upload the documents needed to make a decision.
- Not sure what loan type is best for you or want to learn more?
Our local lending experts are ready to help determine the right loan for you. Simply, ask a Business Banker to contact you, visit your nearest branch or call us at 703-684-1655, or view our Frequently Asked Questions (FAQs).
1. Loans and lines of credit are subject to credit approval. Three-business-day decision period begins upon receipt of complete application and required documents. An origination fee may be charged, based on a percentage of your loan request. If your request is secured by real estate, we will need to obtain an independent appraisal. We will charge you a fee for this appraisal and will provide the appraisal results to you. Any other fee information will be provided.
2. Rates are based on Prime plus a margin, which takes into consideration creditworthiness and size of loan/line of credit.
3. Owner-occupied real estate loans are available when the business occupies over 50% of the property.