Introduction to Truist (SunTrust/BB&T) Business Loans
Truist Bank, formed by the merger of SunTrust and BB&T, offers a range of financial solutions, including business loans designed to help entrepreneurs and established companies grow. Whether borrowers need working capital, equipment financing, or a commercial real estate loan, Truist provides competitive rates, flexible terms, and personalized support.
This guide walks through the Truist (SunTrust/BB&T) loan application process, eligibility criteria, required documents, and expert tips to improve approval odds. By the end, readers will know exactly how to secure funding for their business needs.
Types of Business Loans Available at Truist
Truist provides a range of funding choices suited to various company objectives. Below is a breakdown of their key loan products:
1. Term Loans
- Loan Amounts: $10,000 – $1,000,000+
- Interest Rates: 5% – 15% (fixed or variable)
- Repayment Terms: 1 – 10 years
- Ideal For: Handling unforeseen costs or cash flow gaps.
2. Business Lines of Credit
- Credit Limits: $5,000 – $500,000
- Interest Rates: 7% – 20% (variable)
- Repayment Terms: Revolving, with draw periods of 1–5 years
- Ideal For: Handling unforeseen costs or cash flow gaps.
3. SBA Loans
- Loan Amounts: Up to $5 million
- Interest Rates: 4% – 10% (SBA 7(a) or 504 loans)
- Repayment Terms: 5 – 25 years
- Best For: Startups or businesses needing long-term, low-rate financing.
4. Commercial Real Estate Loans
- Loan Amounts: $50,000 – $5 million+
- Interest Rates: 4.5% – 12%
- Repayment Terms: 5 – 25 years
- Best For: Purchasing, refinancing, or renovating commercial property.
5. Equipment Financing
- Loan Amounts: Up to 100% of equipment value
- Interest Rates: 5% – 15%
- Repayment Terms: 3 – 10 years
- Best For: Machinery, vehicles, or technology upgrades.
Table: Truist Business Loan Comparison
| Loan Type | Amount Range | Interest Rate | Term Length | Best For |
| Term Loan | $10K – $1M+ | 5% – 15% | 1 – 10 years | Large one-time expenses |
| Line of Credit | $5K – $500K | 7% – 20% | Revolving | Cash flow management |
| SBA Loan | Up to $5M | 4% – 10% | 5 – 25 years | Startups/long-term needs |
| Commercial Real Estate | $50K – $5M+ | 4.5% – 12% | 5 – 25 years | Property investment |
| Equipment Financing | Up to equipment value | 5% – 15% | 3 – 10 years | Machinery/tech upgrades |
Eligibility Requirements for a Truist Business Loan
Before applying, borrowers should ensure they meet Truist’s basic criteria:
Credit Score
- Minimum 650+ (higher for SBA loans).
- Stronger scores (700+) secure lower rates.
Annual Revenue
- At least $100,000 for most loans.
- SBA loans may require $250,000+.
Time in Business
- 2+ years for standard loans.
Startups with strong financials may be eligible for SBA funding.
Debt-to-Income (DTI) Ratio
- Ideally below 40%.
Required Documents
- Business tax returns (last 2 years)
- Bank statements (last 6 months)
- Profit & loss statements
- Business plan (for startups/SBA loans)
- Legal documents (licenses, leases, contracts)
Step-by-Step Guide to Applying for a Truist Business Loan
Step 1: Determine Loan Needs
Borrowers should assess how much funding they need and which loan type aligns with their goals.
Step 2: Check Eligibility
Review credit scores, revenue, and DTI to ensure alignment with Truist’s requirements.
Step 3: Gather Documents
Prepare tax returns, financial statements, and legal documents ahead of time.
Step 4: Start the Application
- Visit Truist’s business loans page.
- Click “Apply Now” and select the loan type.
- Fill in business details (name, EIN, industry, revenue).
[Suggested screenshot: Truist application homepage with “Apply Now” button highlighted.]
Step 5: Submit Financial Documents
Upload bank statements, tax returns, and other requested files.
Step 6: Review and Sign
Examine the loan terms thoroughly before e-signing the agreement.
Step 7: Await Approval
- Decisions take 2–7 days (longer for SBA loans).
- After acceptance, funds are made available five to ten business days later.
Tips to Improve Approval Odds
- Boost Credit Score – Pay down debts and correct errors on credit reports.
- Lower DTI – Reduce existing debt before applying.
- Prepare a Strong Business Plan – Essential for startups/SBA loans.
- Collateral – Offer assets to secure better terms.
- Apply During Strong Revenue Periods – Higher income improves approval chances.
Frequently Asked Questions (FAQ)
Q: What credit score is needed for a Truist business loan?
A: Most loans require 650+, but 700+ secures better rates.
Q: How long does funding take?
A: Standard loans take 1-2 weeks, whereas SBA loans take 30-60 days.
Q: Can startups apply?
A: Yes, but SBA loans or lines of credit are more viable options.
Q: Are there prepayment penalties?
A: Some loans have fees; borrowers should review terms carefully.
Alternatives if Denied by Truist
If rejected, consider these lenders:
- Bank of America – Competitive rates for established businesses.
- Wells Fargo – Flexible lines of credit.
- Online Lenders (Fundbox, Kabbage) – Faster approvals, higher rates.
Conclusion: Secure Your Truist Business Loan Today
Truist (SunTrust/BB&T) offers diverse financing solutions with competitive terms. By following this guide—preparing documents, meeting eligibility criteria, and submitting a strong application—borrowers can confidently navigate the Truist loan application process.
Ready to grow your business? To apply for a Truist business loan right now, click this link.
(CTA link to Truist’s application page)
