Chase vs Fifth Third Business Loans

(February 2025)

In This Article

Our Verdict

Imagine standing at a crossroads, ready to take your business to the next level. On one side, you have Chase, and on the other, Fifth Third Bank. Both offer promising paths, so what do you do?

Choose Chase if you want a wide variety of business products. Embrace the flexibility of its loan amounts and terms. Enjoy the convenience of having all your financial services in one place. Chase offers not just loans, but also business banking, credit cards, and payment solutions. Are you ready to dive into a world where you receive comprehensive support for your business needs?

Opt for Fifth Third Bank if competitive rates and specialized accounts catch your eye. Appreciate its tailored checking accounts for different needs. Though you may need to contact the bank directly for specific details, the personalized touch is worth the stress. Fifth Third Bank promises competitive rates and terms, which make it a strong contender with Chase.

Fifth Third Bank operates 1,088 branches and 2,104 ATMs across 11 states. Here are the states where Fifth Third Bank is present: Ohio, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, South Carolina, Tennessee, and West Virginia.

Chase provides a broader range of products and more detailed online information. Fifth Third Bank, while requiring direct contact for specifics, it offers specialized services that may align perfectly with your needs.

Ultimately, the choice is yours. Reflect on your business requirements and decide which bank aligns best with your goals. Both Chase and Fifth Third Bank stand ready to support your journey to success. Choose wisely, and watch your business soar!

Why Choose Chase Business Loan

Who Chase Business Loan Is Best For

Opt for Chase business loan if you are a businessman who:

  • Needs a wide variety of business products.
  • Values flexible loan amounts and terms.
  • Prefers having all financial services in one place.
  • Requires comprehensive support for business banking.
  • Wants access to business credit cards and payment solutions.
  • Seeks detailed online information about loan products.
  • Desires a reputable and established financial institution.

 

Who Chase Business Loan Is Not Right For

Go for the alternatives to Chase business loan if you are an entrepreneur who:

  • Prefers personalized service and direct contact for loan details.
  • Needs specialized checking accounts tailored to specific needs.
  • Seeks the most competitive rates and terms.
  • Values a smaller, community-focused bank.
  • Requires immediate loan approval and funding.
  • Wants a bank with fewer fees and lower costs.
  • Prefers a bank that offers more flexible repayment options.

Why Choose Fifth Third Business Loans

Who Fifth Third Business Loan Is Best For

Consider Fifth Third business loan if you are an entrepreneur who:

  • Values competitive rates and terms.
  • Needs specialized checking accounts for unique needs.
  • Prefers a personalized touch and direct contact for loan details.
  • Seeks a bank with tailored services for students, military families, or individuals with disabilities.
  • Wants a community-focused banking experience.
  • Requires flexible repayment options.
  • Looks for a bank that offers fewer fees and lower costs.

Who Fifth Third Business Loan Is Not Right For

Skip Fifth Third business loan if you are an entrepreneur who:

  • Prefers a wide variety of business products.
  • Needs detailed online information about loan products.
  • Values having all financial services in one place.
  • Requires immediate loan approval and funding.
  • Seeks extensive business credit card options.
  • Wants a bank with a large national presence.
  • Desires comprehensive support for business banking.

Chase vs. Fifth Third Business Loans: Main Differences

Ideal For

Opt for Chase business loans if you are a business owner who needs a wide variety of products. You can access small-business loans, lines of credit, and commercial real estate financing. Also, get access to the business banking services such as credit cards, and payment solutions. On the other hand, consider Fifth Third business loans if you value competitive rates and specialized accounts. Get financing offers for equipment financing, real estate, and SBA loans. Do you belong to one of these categories; students, military families, or individuals with disabilities? Bear in mind that Fifth Third has ready-made tailored services for you.

Pricing

Know that Chase business loans come with flexible terms. You can get loans up to $500,000 with terms up to five years for small business loans and up to 25 years for commercial real estate loans. Interest rates vary and may include fixed or variable options. Do not worry about the hidden fees. Chase charges no hidden fees but has prepayment fees for loans over $250,000. Fifth Third offers competitive rates starting at 15.22%. Its loan terms can extend up to 25 years, especially for SBA loans. Fifth Third also promises no balloon payments and flexible repayment options.

Accounting Integration

Note that both Chase and Fifth Third Bank integrate well with various accounting software such as Xero, Sage, and QuickBooks Online. With these integrations, you can easily manage your finances. Their comprehensive online tools support seamless financial management.

Standout Features

Chase stands out with its extensive range of business products and services. Enjoy the convenience of having all your financial needs met in one place. Likewise, Fifth Third shines with its personalized services and competitive rates. its specialized accounts cater to unique needs, providing a tailored banking experience.

Chase vs. Fifth Third Business Loans: Standout Features

Chase Business Loans: Standout Features

  • Comprehensive Product Range: Enjoy a wide variety of business loans, lines of credit, and commercial real estate financing.
  • Flexible Terms: Benefit from loan terms that suit your business needs, with options up to 25 years.
  • Integrated Services: Access business banking, credit cards, and payment solutions all in one place.
  • Detailed Online Information: Find extensive details about loan products online, making it easier to make informed decisions.
  • Reputable Institution: Trust in a well-established bank with a strong national presence.
  • No Hidden Fees: Appreciate the transparency with no hidden fees, though be aware of prepayment fees for larger loans.
  • Advanced Online Tools: Utilize comprehensive online tools that integrate well with accounting software for seamless financial management.

Fifth Third Business Loans: Standout Features

  • Competitive Rates: Take advantage of competitive interest rates that can help you save money.
  • Specialized Accounts: Benefit from tailored checking accounts for students, military families, and individuals with disabilities.
  • Personalized Service: Enjoy a personalized touch with direct contact for loan details and support.
  • Flexible Repayment Options: Choose from flexible repayment options that fit your business cash flow.
  • Community-Focused: Experience a community-focused banking approach that values local businesses.
  • No Balloon Payments: Avoid the stress of balloon payments with straightforward loan terms.
  • Lower Costs: Appreciate fewer fees and lower costs, making it a cost-effective choice for your business.

Chase vs. Fifth Third Business Loans: Savings Accounts

When considering savings accounts for your business, both Chase and Fifth Third Bank offer distinct features. Find details below.

Choose Chase if you want flexibility and convenience. You can get two main business savings accounts: Chase Business Total Savings and Chase Business Premier Savings. The Business Total Savings account has a $10 monthly service fee, which you can waive by maintaining a $1,000 average ledger balance or linking it to a Chase Business Complete Banking account.

The Business Premier Savings account has a $20 monthly fee, you can waive it with a $25,000 average ledger balance or a linked Chase Performance Business Checking account. Both accounts earn interest, but the rates are generally low. Enjoy up to 15 free monthly deposits with the Total Savings account and up to 30 with the Premier Savings account. Be aware of a $5 fee per withdrawal after six withdrawals per statement period.

On the contrary, opt for Fifth Third if you value competitive interest rates and fewer fees. Fifth Third offers three main savings accounts: Business Savings, Business Relationship Savings, and Business Money Market. The Business Savings account has a $5 monthly fee, waived with a $1,000 average balance. The Business Relationship Savings account offers tiered interest rates and no monthly fee if linked to a Business Premium or Business Elite Checking account. The Business Money Market account has a $10 monthly fee, waived with a $10,000 average balance. All accounts provide up to 20 free deposits per month and three free withdrawals. Enjoy check-writing privileges with the Relationship and Money Market accounts.

Chase vs. Fifth Third Business Loans: Checking Accounts

Choose Chase if you want a variety of checking account options. Chase offers three main business checking accounts: Chase Business Complete Banking, Chase Performance Business Checking, and Chase Platinum Business Checking. The Business Complete Banking account has a $15 monthly fee, which you can waive by maintaining a $2,000 minimum daily balance or making $2,000 in deposits from Chase QuickAccept or Chase Ink Business Card purchases.

Enjoy unlimited debit card and Chase ATM transactions, and up to 20 teller and paper transactions per month. The Performance Business Checking account has a $30 monthly fee, waived with a $35,000 combined average beginning day balance. This account includes 250 transactions per month at no charge and $20,000 in cash deposits per statement cycle without a fee. The Platinum Business Checking account has a $95 monthly fee, waive it with a $100,000 combined average beginning day balance. It offers 500 transactions per month at no charge and $25,000 in cash deposits per statement cycle without a fee. None of these accounts earn interest.

Opt for Fifth Third if you prefer straightforward accounts with fewer fees. Fifth Third offers three main business checking accounts: Fifth Third Business Checking, Fifth Third Business Premium Checking, and Fifth Third Business Elite Checking. The Business Checking account has no monthly service charge and no minimum balance requirement. You can perform up to 100 transactions and $5,000 in cash deposits per month. The Business Premium Checking account has a $25 monthly fee, waived with a $25,000 minimum balance.

This account offers 500 free monthly transactions and up to $10,000 in free monthly cash deposits. The Business Elite Checking account has a $50 monthly fee, waived with a $50,000 minimum balance. It includes 1,000 free monthly transactions and $25,000 in free monthly cash deposits. Some of these accounts pay interest, adding value to your deposits.

Pros and Cons of Chase Business Loans

  • Access a wide variety of business loan products.
  • Enjoy flexible loan terms that suit your business needs.
  • Benefit from competitive interest rates.
  • Leverage the extensive network of Chase branches nationwide.

Utilize advanced online tools for seamless financial management.

  • Prepare for strict eligibility requirements.
  • Expect limited information on terms and fees available online.
  • Apply in person, which can be time-consuming.
  • Face potential prepayment fees for larger loans.
  • Experience occasional lower customer satisfaction scores.

Pros and Cons of Fifth Third Business Loans

  • Access a variety of business loan products tailored to your needs.
  • Enjoy competitive interest rates that can save you money.
  • Benefit from specialized healthcare practice financing.
  • Receive quick funding for some loan products.
  • Waive fees on business checking accounts with an active business loan.
  • Experience personalized service with direct contact for loan details.
  • Leverage flexible repayment options that fit your cash flow.
  • Visit a branch or schedule a phone appointment to apply.
  • Find limited information available online.
  • Meet strict eligibility requirements for some loans.
  • Expect a longer application process compared to online lenders.
  • Prepare for potential delays in funding for certain loan types.
  • Face higher fees if you don’t meet balance requirements.
  • Deal with fewer branch locations compared to larger banks.

Chase vs. Fifth Third Business Loans: Customer Reviews

Expect mixed reviews on BBB. Chase has a low rating of 1.1 out of 5 stars, based on over 400 reviews. Many customers complain about poor customer service and high fees. Prepare for a similar experience on ConsumerAffairs. Chase scores 1.3 out of 5 stars from over 4,300 reviews. Customers often mention issues with customer service and account closures.

Trustpilot reviews are also critical. Chase has an average rating of 1.3 out of 5 stars from over 1,800 reviews. Common complaints include poor customer service and unexpected account closures. Forbes highlights Chase’s extensive product range but notes low customer satisfaction scores. Forbes gives Chase a rating of 3.5 out of 5 stars, mentioning the lack of transparency about loan costs and requirements.

In like manner, expect low ratings for Fifth Third Bank on BBB. Fifth Third has a rating of 1.1 out of 5 stars, based on 474 reviews. Customers frequently report issues with the banking platform and customer service. ConsumerAffairs reviews are also critical. Fifth Third scores 1.5 out of 5 stars from over 1,200 reviews. Complaints often focus on poor customer service and account management issues.

Trustpilot reviews are harsh as well. Fifth Third has an average rating of 1.3 out of 5 stars from over 200 reviews. Customers commonly mention problems with the mobile app and unhelpful customer service.

However, Forbes reviews are more balanced. Fifth Third is praised for its specialized accounts and competitive rates but criticized for low customer satisfaction scores. Forbes gives Fifth Third a rating of 3.8 out of 5 stars.

Chase and Fifth Third Business Loans Competitors

Bank of America

Choose Bank of America if you value strong customer relationships and loyalty programs. They offer a variety of small-business loans, including term loans, lines of credit, and SBA loans. Enjoy competitive interest rates and flexible terms. Fees vary by product, but you can expect transparent pricing with no hidden charges. You can get an amount that ranges from $10,000 to $5 million, with terms up to 25 years.

Wells Fargo

Opt for Wells Fargo if you need extensive support for small businesses. They provide SBA loans, business lines of credit, and equipment financing. Benefit from competitive rates and flexible repayment terms. Fees are generally low, but specific charges depend on the loan type. Loan amounts range from $10,000 to $5 million, with terms up to 25 years.

U.S. Bank

Consider U.S. Bank if you are a startup. They offer tailored solutions for new businesses, including term loans, lines of credit, and SBA loans. Enjoy competitive interest rates and flexible terms. Fees are transparent, with no hidden charges. Access loan range from $5,000 to $5 million, with terms of up to 25 years.

Pro Tips

When considering Chase vs. Fifth Third Business Loans, follow these pro tips to make an informed decision:

  1. Evaluate Your Needs: Determine exactly what your business requires. Do you need a variety of loan products, or are you looking for specialized services?

  2. Compare Interest Rates: Look at the interest rates offered by both banks. Chase typically offers competitive rates, but Fifth Third may have better rates for specific loan types.

  3. Check Fees and Charges: Understand all the fees involved. Chase is known for transparency, but always check for any hidden fees. Fifth Third also promises no hidden fees, but verify this for your specific loan.

  4. Consider Loan Terms: Compare the loan terms. Chase offers flexible terms up to 25 years for some loans. Fifth Third also provides flexible terms, especially for SBA loans.

  5. Assess Customer Service: Read customer reviews on platforms like BBB, ConsumerAffairs, and Trustpilot. Chase and Fifth Third both have mixed reviews, so consider how important customer service is to you.

  6. Look at Additional Services: Think about the additional services each bank offers. Chase provides extensive business banking, credit cards, and payment solutions. Fifth Third offers specialized accounts and personalized service.

  7. Evaluate Application Process: Consider the ease of the application process. Chase may require in-person applications, which can be time-consuming. Fifth Third might offer a more personalized touch but could also require direct contact.

  8. Check Eligibility Requirements: Ensure you meet the eligibility requirements for the loans. Both banks have strict criteria, so make sure your business qualifies.

  9. Review Repayment Options: Look at the repayment options available. Fifth Third offers flexible repayment plans, which might be beneficial for your cash flow.

  10. Consider Your Business Size: Think about the size of your business. Chase may be better for larger businesses with extensive needs, while Fifth Third could be ideal for smaller, community-focused businesses.

Recap

Remember that Chase Business Loan stands out with its comprehensive product range. Embrace the flexibility of its loan terms, and enjoy the convenience of integrated services like business banking, credit cards, and payment solutions. Chase’s extensive network and advanced online tools make managing your finances seamless. However, be prepared for strict eligibility requirements (like high credit score) and potential prepayment fees.

On the other hand, Fifth Third Business Loans shine with competitive rates and personalized service. Benefit from specialized accounts tailored to unique needs, and appreciate the flexible repayment options. Fifth Third’s community-focused approach and fewer fees make it a cost-effective choice. Yet, you may find the application process more time-consuming and the online information less detailed.

Choosing the right business loan is a crucial decision. Reflect on your specific needs and goals. Whether you opt for Chase’s extensive offerings or Fifth Third’s personalized touch, know that you’re taking a significant step towards your business’s success. Evaluate your options carefully, trust your instincts, and make the choice that best supports your vision. Your business deserves the best, and with the right financial partner, the sky’s the limit!

Become a

S'witty Kiwi Credit Insider!

Get the latest credit tips and hacks in your inbox!