Associated Bank Business Loans Review

(April 2024)

Associated Bank Business Loans

In This Article

Our Verdict

our verdict

If you need the services of a well-known financial institution that provides funding options to companies of various sizes based in the Midwest of the United States, establish a business loan partnership with Associated Bank.

With branch locations in Wisconsin, Illinois, and Minnesota, Associated Bank is a regional bank. Its operation spans over 150 years. Additionally, the bank runs loan production facilities in Texas, Ohio, Indiana, Michigan, and Missouri.

Associated Bank has a more personalized approach to customer service, which is particularly beneficial for small to medium-sized businesses seeking to build a strong banking relationship. However, note that customer service levels vary and depend on the branch location based on customer reviews.

Associated Bank offers a variety of business loan options, including commercial real estate loans, equipment loans, and lines of credit. Associated Bank is one of the top SBA Lenders in Illinois, Wisconsin, and Minnesota and has relationship managers to assist you with the SBA loan application process.

Here are some additional details you should know about Associated Bank:

Associated Bank

Corporate Headquarters

433 Main Street Green Bay, WI 54301

Phone Number: 1-920-491-7500

www.associatedbank.com

Pros

  • Flexible terms for repayment
  • Affordable fees and rates
  • Individualized loan options
  • Local representation and individualized service in the Midwest
  • Quick online loan application process
  • Top SBA Lender in the Midwestern region

Cons

  • Requires collateral and documentation
  • Locations are limited to the Midwestern Region
  • Customer Reviews that are not excellent
  • Fewer educational resources and online resources

Who This Product Is Best For

Look for Associated Bank’s business loan offering if your business:

  • Needs an adaptable financing option with terms specific to your business needs.
  • Possesses a steady financial history and a high credit score.
  • Searches for a range of business financing choices, such as SBA loans.
  • Prioritizes individualized and regional customer service.
  • Appreciates a banking partner with a significant footprint in the US Midwest.

Who This Product Isn't Right For

Explore other business loan options if your business:

  • Presently experiences financial difficulties or issues with the capacity to make profit.
  • Is a fresh start-up without a track record of successful operations.
  • Seeks a business lender that offers top-notch customer service.
  • Possesses a bad credit history or low credit scores.

What This Product Offers

  • Business term loans

Explore a business-term loan from Associated Bank if you require a one-time amount of money that you can repay over a specific period. You can pay off the loan every month, with interest, over a few months or up to 7 years.

  • SBA loans

Secure the capital you need for your business with an SBA loan from Associated Bank, which comes with a government warranty. SBA will reimburse up to 85% of any losses in the event of default. This reduces the risk for Associated Bank and makes it simpler for them to grant your loan. However, eligibility for SBA loans can be a challenge.

  • Business lines of credit

Consider a business line of credit from Associated Bank, if you need to use a continuous credit line, to control working capital changes and increase your money supply. You don’t begin paying until you start using the money.

  • Commercial real estate loans

Expand your business’s physical space with a commercial real estate loan from Associated Bank. Regardless of whether you want to purchase an existing property or create a new one.

  • Equipment financing

Obtain the money you require with a business equipment loan from Associated Bank to buy the equipment and tools your company needs to run effectively.

Product Details

Business Line of Credit

If you desire a more resourceful choice than a business loan, request a business line of credit from Associated Bank. Use it to cover unforeseen costs or to facilitate purchases. This method offers a set amount of financing; repayments are only made after you start using the money. The amount of credit you use and repay is up to you.

After your application is accepted, the bank gives you access to a line of credit with which you can borrow money with a maximum 5-year repayment duration. You can pay back a variable amount each month during the draw term.

Loan Amount

Up to $1,000,000

Bank Rate

Variable

Loan Terms

1 – 5 years

Repayment Plan

Monthly

Accessibility

8 states – Midwestern Region, US

Business Term Loan

Apply for a business term loan from Associated Bank, if you have long-term demands, such as the need to purchase equipment or other major and essential merchandise. You can use it to finance renovations, building projects, or purchases. You can take out a sizable loan that you can easily repay over a set time of up to 7 years. Monthly payments of set interest rates are required.

Loan Amount

Up to $1,000,000

Bank Rate

Fixed

Loan Terms

1 year to 7 years, up to 20-year amortization for Real Estate Secured

Repayment Plan

Monthly

Accessibility

8 states – Midwestern Region, US

Commercial Real Estate Loans

Seek a commercial real estate loan with Associated Bank, if you require finance for any kind of commercial property, including the four standard financial assets of industrial, retail, office, and collective. Furthermore, you can obtain financing for several uncommon product categories, including student residencies, self-storage, mixed-use, and medical offices. All of the terms stated are adjustable to fit your needs.

Loan Amount

Up to $1,000,000

Bank Rate

Fixed

Loan Terms

1 year to 7 years, up to 20-year amortization for Real Estate Secured

Repayment Plan

Monthly

Accessibility

8 states – Midwestern Region, US

SBA Loans

Take your small business to new heights – explore an SBA loan, guaranteed by the U.S. Small Business Administration! You can take care of a variety of business needs, such as beginning or buying an enterprise, remodeling your current site, purchasing new assets and goods, repaying current loans, and increasing cash flow.

If you’re based in Wisconsin, Minnesota, or Illinois, Associated Bank is one of the top lenders you can trust to help you achieve your goals. Speak with a loan specialist from Association Bank to provide you with tailored guidance and support throughout the entire lending process that is suitable for your business.

Choose any of the SBA loan options from Associated Bank

 

SBA 7(a) Loans

SBA Express Loans

SBA 504 Loans

Loan Amount

Up to $5,000,000

Up to $500,000

Up to $5,000,000 SBA Loan

Bank Rate

Fixed or Variable

Fixed or Variable

Fixed

Loan Terms

1 – 25 years

1 – 25 years

10, 20, 25-year term options

Repayment Plan

Monthly

Monthly

Monthly

Accessibility

8 states – Midwestern Region, US

8 states – Midwestern Region, US

8 states – Midwestern Region, US

Equipment Financing

Get equipment financing with Association Bank, if you need a comprehensive lending platform.

Associated Bank is your reliable ally to keep your business progressing, whether financing large pieces of construction equipment or upgrading your IT infrastructure to increase productivity and customer satisfaction.

Loan Amount

$2 – $25 million

Bank Rate

Fixed

Loan Terms

Adaptable payment

Repayment Plan

Monthly

Accessibility

8 states – Midwestern Region, US

 

Where This Product Stands Out

Different Funding Alternatives

If you need funding specific to your business needs, contact Associated Bank. You can access term loans, commercial real estate loans, SBA loans and equipment financing, and business lines of credit. If you are in the midwestern region, reach out to Associated Bank today.

Different SBA Loan Services

Make Associated Bank your go-to bank for your SBA loan needs. As a top SBA Lender in the midwestern region, you can get different SBA loan alternatives, up to $5 million.

Massive Loans

Don’t let your business suffer when you can get up to a $1 million loan from Associated Bank. Speak with an Associated Bank relationship manager today!

Adaptable Payment Terms

Acquire term loans and lines of credit from Associated Bank and enjoy flexible and suitable terms for your repayment period. Terms of up to 7 years.

Where This Product Falls Short

Accessibility

Confirm that Associated Bank operates in your state before you begin your application process. The bank offers business loans in just 8 states of the Midwestern region in the US.

Customer Satisfaction

Do not expect impeccable customer service from Associated Bank. Bear with them and go through the required process to resolve any challenges you encounter.

Need for Collateral and Adequate Documentation

For ease in getting loans from Associated Bank, have your collateral readily available. Also, have your financial statement and other business documents handy.

Limited information online

You need to contact Associated Bank’s representative to get all the information about the loan offers. You can start the application online but to complete the process, contact Association Bank.

How to Qualify for This Product

Credit Character

Keep a good credit score. Correct any credit issues you have. Make quick repayments to boost your credit character.

Capital

Do you have enough capital to invest as a business owner? Calculate all the money you have in investments, savings, and liquid capital to know how much financial responsibility you can take. Review your financial statements frequently and have them accessible.

Capacity

Do you have the ability to pay back the loan? Check that your income history shows that you can pay back the loan you receive. Do not misuse funds.

Conditions

Be prepared to defend your request for the loan with a relevant business plan. Situations and time factors beyond your control can also affect your loan application.

Collateral

Have adequate collateral to help you obtain loans faster. Your vehicles, commercial real estate, and equipment can be used as collateral.

To know more about Associated Bank’s criteria for business loans, reach out on www.associatedbank.com

How to Apply for This Product

Have the following documents ready:

  • Personal information such as your address, SSN
  • Financial statements
  • Bank statements
  • Business set-up date
  • Tax payment history (Personal and Business)
  • Business ownership details and tax identification number
  • Citizenship and Visa status information

Alternatives to This Product

Chase

If you seek a bank without hidden fees and adequate online resources, look at Chase as an alternative to Associated Bank. You can get enough information to make the right decisions for your business.

BMO Harris

If you need a bank with wider coverage than Associated Bank, consider BMO Harris with over 500 branches in the Midwestern region of the U.S.

U.S. Bank

U.S. Bank is another great alternative to Associated Bank for those seeking a range of business loans. U.S. Bank offers commercial real estate loans, equipment leasing, lines of credit, and SBA loans with loan amounts up to $12,375,000.

Customer Reviews

Attain good customer relationships with Associated Bank. Based on reviews on BBB, customers’ feedback about Associated Bank is less than impeccable. However, Associated Bank responds to complaints openly and in a supportive manner.

Methodology

We reviewed Associated Bank business loans based on 35 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience, and the application process. We rated Associated Bank business loans based on the weighting assigned to each category:

  • Loan cost: 35%
  • Loan details: 25%
  • Customer experience: 20%
  • Eligibility and accessibility: 10%
  • Application process: 10%

Within each major category, we also considered several characteristics, including available loan amounts, repayment terms, and applicable fees. We also looked at minimum credit scores and time in business requirements and the geographic availability of the lender.

Finally, we evaluated Associated Bank business loans’ customer support tools, borrower perks, and features that simplify the borrowing process—like online applications, prequalification options, and mobile apps.

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