Our Verdict
PNC business loans can be a good option for you if you run an established business that has good credit and high borrowing needs. You get a variety of business loan products, including unsecured and secured loans, as well as real estate and vehicle loans. Consider PNC’s strong online presence as a plus for you to apply for a business loan easily while you also track your progress.
However, PNC business loans are not all pros. Be careful to familiarize yourself with some of the bank’s business financing products before submitting your application. The financial institution’s interest rates are generally higher than some other lenders, and there are additional fees, such as annual fees and guarantee fees. Also, set a limit for your expectations when it comes to the bank’s customer service. One uninteresting thing about PNC is that its customer support is far from excellent.
Overall, PNC business loans can be a good option for you provided you meet the lender’s requirements. However, remember to carefully consider the interest rates, fees, terms, customer service, and loan conditions before you apply.
For more information about the lender:
PNC Corporate Headquarters
Address: One PNC Plaza 249 Fifth Avenue, Allegheny, Pittsburgh, PA 15222-2707
Phone number: 1 (412) 762-2000
https://www.pnc.com
Pros
- Offers a variety of loan products.
- Maintains a strong online presence.
- Gives competitive interest rates for borrowers with good credit.
- Features flexible repayment terms.
- Gives secured business loan up to $3,000,000.
- Releases funds quickly.
Cons
- Gives loans at interest rates that are generally higher than some other lenders.
- Charges additional fees, such as annual fees and guarantee fees.
- Requires two years of business longevity before loan approval.
- Offers less-than-average customer service.
- Offers limited accessibility to businesses outside PNC’s service areas.
- Makes no provision for pre-qualification.
- Requires in-person application.
Who PNC Business Loan Is Best For
Embrace PNC business loans if you’re someone who:
- Has an established business with a strong credit history.
- Seeks a wide range of business loan options.
- Looks for competitive interest rates.
- Values a relationship-based banking experience.
Run a venture within PNC’s service areas, including Alabama, Arizona, California, Colorado, Delaware, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Jersey, New Mexico, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas Virginia, West Virginia and Wisconsin and Washington, D.C.
Who PNC Business Loans Isn’t Right For

Think of other options if you’re someone who:
- Lacks a proven business track record or revenue history.
- Has poor credit history or low credit score.
- Possesses no viable business plan or clear repayment strategy.
- Runs a Business that operates in a high-risk industry or sector.
- Has a history of defaulting on previous loans.
- Lacks sufficient collateral for a secured business loan.
- Requires a term business loan in small amounts and can qualify for better rates elsewhere.
- Manages a startup business without a stable source of income.
- Lives outside of PNC service areas.
What PNC Business Loans Offers
PNC business loans allow you to grow your business by offering financial products whenever you have an urgent business needs to mee. Think of PNC business for:
- Small business line of credit. This is a revolving line of credit that you can use for a variety of business expenses, such as inventory, accounts payable, and marketing.
- Unsecured small business loan. With this loan, you do not require any collateral. So it is a good option for you if your business has limited assets.
- SBA loans. If you require a business loan that the Small Business Administration guarantees, opt for any of PNC’s SBA
- Equipment financing. Want to purchase new or used equipment for your business? If yes, consider PNC equipment financing.
- Commercial real estate loans: Purchase or finance real estate with these loans.
PNC Business Loans Details
Small business line of credit
PNC’s small business line of credit is a flexible financing option that can help you meet your business’s short-term cash flow needs. It offers you any amount from $20,000 to $100,000 with a term oscillating between 1 and 5 years for its unsecured business line of credit. You can attract a larger amount up to $3,000,000 with a secured business line of credit with a term capping at seven years.
The interest rate is variable—for example, expect an interest rate from Prime + 1.58% to prime + 11.19% for an unsecured business line of credit; and Prime + .51% – prime + 4.77% for a secured business line of credit.
Flexibility, control, and convenience are perks that make PNC’s small business line of credit your perfect match. Plus, you can apply for this loan online or in person—You only need to be a small business owner that is at least one-year-old. Also, you require a good credit score and a steady cash flow to qualify for this product.
Business term loans
PNC Business term loans are fixed-rate loans that you can use for a variety of business expenses, such as equipment purchases, real estate purchases, or working capital needs. The loans’ fairly lower interest rates make them a better alternative to business lines of credit.
You can qualify for up to $3,000,000 secured business term loan with PNC with the term maxing at seven years. PNC doesn’t disclose the exact rates on this product but it’s either variable or fixed. If you have a stellar credit score, you can apply for PNC’s unsecured business term loan with any amount up to $100,000, repayable within 5 years.
SBA loans
The Small Business Administration guarantees PNC SBA loans. That tells you that the SBA covers up to 85% of the loan amount if in case you default. See the SBA loans as opportunities to obtain financing, as you only need to provide minimal collateral.
PNC offers a variety of SBA loan programs, including:
- 7(a) loans. These loans are the most common type of SBA loan. Use it for any business purpose – equipment purchases, for example.
- 504 loans. Acquire fixed assets for your business with this product, such as land, building, and equipment.
- Express loans. If you prefer a shorter application process than an SBA loan – but quick financing, – consider PNC express loans.
Remember that to qualify for an SBA loan, your business must have fewer than 500 employees and less than $1 million in annual revenue. Plus, you require a solid credit score with a convincing business plan.
Equipment financing
If you’re hellbent on getting a flexible equipment financing alternative for your business, embrace PNC equipment loan. The loan amount can range from $10,000 to $250, 000 with a term extending to 6 years. PNC hoards the exact interest rate, but it can vary or be fixed, depending on the market.
The equipment you purchase acts as collateral for this loan.
Commercial real estate loans
Want to purchase or refinance commercial real estate? Bank on PNC commercial real estate loan. Get any amount up to $3,000,000 with term spanning from 3 to15 years plus up to 25-year amortization. PNC doesn’t disclose the rate on this loan and the real estate you buy serves as collateral for the loan.
Where PNC Business Loans Stands Out
Diverse loan products
Get a wide range of business loan options to cater for your business’ needs, including term loans, lines of credit, equipment financing, commercial real estate loans, and SBA loans. This diversity allows your business to find the right financing solution for your specific requirements.
SBA lending
PNC is an SBA Preferred Lender, which means it has the authority to approve and process SBA loans more quickly. You can go to bed with the assurance of getting an SBA loan with the bank provided you meet all the qualification requirements.
Online banking and tools
PNC provides convenient online banking platforms and tools that make it easier for you to manage your loan, payments, and finances efficiently from anywhere.
Industry expertise
When it comes to specialized industry expertise, give it to PNC. The financial institution understands the unique challenges and financial needs of your business irrespective of the sector you operate in. This understanding allows the lender to tailor loan solutions accordingly.
Flexible terms and rates
PNC’s business loan offerings often come with competitive interest rates and flexible terms. Take your time to check the option that is mostly suitable for your financial capabilities and goals.
Where PNC Business Loans Fall Short

Strict qualification requirements
Like most traditional banks, PNC may have strict qualification criteria for business loans. You’re likely to find it more challenging to get a business loan product for PNC if you have limited credit history or financial track records.
Lengthy approval process
PNC business loans require in-person application so the loan’s approval process can be time-consuming and involve significant paperwork. This can be a significant delay if you’re in urgent need of funding.
Limited availability
One thing about PNC’s regional presence is that it can limit your business from accessing funds if it operates outside the bank’s service areas. It’s better you consider another business financing alternative if your enterprise runs in remote or less densely populated regions where there isn’t easy access to PNC branches or loan officers.
Fees and costs
While PNC offers competitive rates, some borrowers mention that the bank’s loans can come with additional fees and costs, which ultimately add to the overall expense. So clarify the additional fees to pay upfront before getting a PNC business loan.
Credit score and collateral requirements
PNC business loans are best for you if you either have a solid credit score or collateral that’s commensurate with the amount you require. But if you lack both a good to excellent credit score and collateral, consider another lender immediately.
How to Qualify for PNC Business Loans Loan
The first to do as you consider a PNC business loan is to know if you qualify for it in the first place. To qualify for PNC business loans:
- Have an established business. If you can prove to PNC that you run an established venture with a proven track record of profitability, you boost your chances of getting an approval up to 80%.
- Maintain a good to excellent credit score. Your personal and business credit scores play a crucial role in the loan approval process. PNC reviews your credit history to assess your creditworthiness and determine the interest rate and loan terms you qualify for.
- Prepare your financial documents. Dust your business tax returns, profit and loss statements, balance sheets, cash flow statements, and other relevant financial records.
- Prepare a business plan. If you are starting a new enterprise and require significant funding, writing a detailed business plan outlining your business model, market analysis, financial projections, and use of loan proceeds can be beneficial.
- Possess collateral: PNC requires collateral to secure your business loan, especially for larger loan amounts. Collateral can include real estate, equipment, or other valuable assets that the bank can claim in case you default.
- Check your cash flow and debt-to-income ratio. Expect PNC to evaluate your business’s cash flow in order to ensure it can comfortably manage loan payments.
- Build a cordial relationship with PNC. Having an existing banking relationship with PNC, such as business checking or savings accounts, is advantageous and boosts your chances of getting a yes on your business loan application.
- Get business and personal guarantees. Depending on the loan type and amount you require, PNC can request personal guarantees – a method to provide additional assurance that you won’t default.
How to Apply for PNC Business Loans
Applying for PNC business loans is a little bit strenuous since the bank makes no room for online application. You either visit the bank’s physical branch or put a call through to apply. To start the process:
- Gather all necessary financial documents and business information.
- Visit the PNC Bank website or a local branch to explore loan options.
- Obtain a physical application form.
- Provide accurate and up-to-date details about your business, financial history, and purpose of the loan.
- Submit the application along with the necessary documents.
- Wait for PNC’s loan review and approval process.
- Review the loan terms and conditions carefully – If approved.
- Sign the loan agreement if you agree to the terms.
- Receive the funds in your business account..
Keep in mind that specific requirements and processes may vary based on the type of business loan you are applying for and PNC’s current policies.
Alternatives to PNC Business Loans

Bank of America
Bank of America offers a variety of business loans, including secured and unsecured loans, lines of credit, and SBA loans. Being a traditional bank, expect more strict requirements. However, it has a wider network of branches and ATMs, which can be convenient for you to access funds for your business. Apply for any amount from $2,000 to $5 million with an interest rate between 5.99% to 18.99% and a term extending up to 12 years.
Funding Circle
Funding Circle is a peer-to-peer lending marketplace that connects you with investors who want to lend money. The platform offers term loans with loan amounts ranging from $25,000 to $500,000. The interest rates on Funding Circle loans are typically higher than what PNC offers by traditional banks, but it streamlines the application process and places little premium on your creditworthiness. Anticipate an interest rate between 15.22% to 35.99% with a term ranging from six months to seven years.
Customer Reviews
PNC doesn’t have any credible positive customer reviews. It attracts a bad rating of 1.3 out of 5-star rating based on 846 customer reviews on TrustPilot. The bank receives reviews based on all the services it offers and not exclusively on its business loan products.
Pro Tips
Make sure you follow the best practices when applying for a business loan with PNC. Remember to:
- Be patient.
- Write a business plan—hire a professional if need be.
- Maintain good personal and business credit scores.
Research different alternatives.
Recap
PNC business loans offer a comprehensive and reliable financing solution you can always rely on irrespective of your business size. With a diverse range of loan products, competitive interest rates, and flexible terms, PNC demonstrates its commitment to supporting the growth and success your enterprise. Whether it’s funding for expansion, equipment purchase, working capital, or any other business need, PNC’s tailored loan options provide a solid foundation for you to achieving both your short-term and long-term objectives.
By choosing PNC business loans, gallantly pursue your ambitions, secure in the knowledge that you have a trusted financial partner by your side.
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