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Best Small Business Loans in Tucson, AZ

Aug. 15, 2019, 8:17 p.m.

Part of the American dream is starting your own business, but creating or expanding a company requires capital. A business loan provides funding to get a business off the ground or a quick infusion of cash for expansion. Our partners at ConsumerAffairs researched the best business loans in Tucson to find a lender to help you achieve your dream.

Everyone deserves to make thoughtful, informed purchase decisions. The local guides provided on this website are free for consumers. KGUN 9 may receive compensation from our partners. Learn more.

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#1
RECOMMENDED
Seek Business Capital

Startup Consulting • Business Services

VISIT WEBSITE
CALL SEEK BUSINESS CAPITAL
(844) 587-9906
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#1 MOST POPULAR
Seek Business Capital
Seek Business Capital
Features
  • Available in Tucson
  • More than 92% funding approval rate
  • Same-day funding approvals
  • Online application available
Read More
VISIT WEBSITE
CALL SEEK BUSINESS CAPITAL
(844) 587-9906
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#2
Imperial Advance
Imperial Advance
Features
  • Available in Tucson
  • Loan specialists offer financial consulting
  • Flexible loan programs
  • Funds available in 24 hours
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VISIT WEBSITE
CALL IMPERIAL ADVANCE
(888) 633-2083
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#3
National Business Capital
National Business Capital
Features
  • Available in Tucson
  • More than $1 bilion in funding secured
  • Multiple financing options available
  • Expert financial advisors
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VISIT WEBSITE
CALL NATIONAL BUSINESS CAPITAL
(866) 270-5585
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#4
Commerce Bank of Arizona
Commerce Bank of Arizona
Features
  • Lines of credit up to $500,000
  • Borrow up to 90% of purchase price for equipment loans
  • SBA loans available
  • Local decision-making and processing
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Location
3805 E. Broadway Blvd.
Tucson, AZ 85716
(520) 325-5200
#5
National Bank of Arizona
National Bank of Arizona
Features
  • Same-day decision on term loans less than $100,000
  • Unsecured lines of credit for up to $250,000
  • 100% financing on equipment loans
  • Specialty lending services
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Location
1 S. Church Ave.
Tucson, AZ 85701
(520) 884-1500
BMO Harris Bank
BMO Harris Bank
Features
  • M-F: 9am - 5pm
  • Sat: 9am - 12pm
  • Closed Sun
  • bmoharris.com
Location
35 N. Houghton Rd.
Tucson, AZ 85748
(520) 751-6700
Great Western Bank
Great Western Bank
Features
  • M-F: 9am - 5pm
  • Closed Sat and Sun
  • greatwesternbank.com
Location
3002 N. Campbell Ave., Ste. 100
Tucson, AZ 85719
(520) 325-1135
Pacific Premier Bank
Pacific Premier Bank
Features
  • M-F: 9am - 4pm
  • Closed Sat and Sun
  • ppbi.com
Location
4400 E. Broadway Blvd., Ste. 112
Tucson, AZ 85711
(520) 321-4500
Wells Fargo
Wells Fargo
Features
  • M-F: 9am - 6pm
  • Sat: 9am - 2pm
  • Closed Sun
  • wellsfargo.com
Location
1701 E. Speedway Blvd.
Tucson, AZ 85719
(520) 792-5077
BBVA Compass Bank
BBVA Compass Bank
Features
  • M-F: 9am - 6pm
  • Closed Sat and Sun
  • bbvacompass.com
Location
120 N. Stone Ave.
Tucson, AZ 85701
(520) 620-3270

How to get a business loan in Tucson

Tucson skyline

Start-up companies and small businesses in Tucson use business loans to fund the next step of their business plans. If your company needs capital, a business loan may be the answer. Before signing on the dotted line, though, know what kind of loan is right for you. Common business loans in Tucson include:

Type of loan Characteristics
Term loan Provides funds upfront and are repaid with interest over a predetermined period
Business line of credit Provides access to funds up to a predetermined limit, and companies only pay interest on the amount used
Equipment loan Allows a company to purchase equipment, which is used as collateral to secure the loan
Invoice financing Provides funds and uses outstanding invoices as collateral
Personal loan A good option for start-ups that you qualify for based on your personal credit score
Microloan Small loans of usually $50,000 or less offered by nonprofit organizations and mission-based lenders
SBA loan The Small Business Administration guarantees these loans

Qualifying for a business loan in Tucson

Lenders in Tucson have different criteria for qualifying for loans. A traditional lender may require your company to have good credit, but alternative online lenders are more likely to look at your business plan and viability. There are several things most lenders will ask to inspect, including revenue statements, personal and company bank statements, available collateral and financial projections.

Loans are often secured with collateral, which is an asset a lender can seize if you default on your loan. Down payments may be required for some types of loans. Short-term loans are generally repaid within a few months to a year, and long-term loan repayments can last anywhere from 10 to 20 years.

Depending on the lender and the amount of money you take out, your loan repayment schedule can vary. Typical repayment schedules are weekly, monthly, semi-annually or annually.

Business loans fees in Tucson

There are several fees borrowers can expect to incur in Tucson. Many of these fees are taken directly from the funding you receive, so make sure your loan is large enough for its intended purpose after fees. Some common fees business lenders charge are:

  • Origination fee: A fee to cover the cost of processing the loan
  • Prepayment penalty: A fee charged for paying off the balance of your loan before the completion of the agreed term
  • Referral fee: A fee charged by loan brokers for referring you to a lender
  • Packaging fee: A fee used to cover the cost of preparing a loan application to present to a lender

Be sure to ask about any fees when comparing Tucson lenders. By shopping around, you’ll be able to find a lender who partners with your company to help it grow and prosper.

Seek Business Capital

Seek Business Capital

CALL SEEK BUSINESS CAPITAL

(844) 587-9906 VISIT SEEK BUSINESS CAPITAL

Seek Business Capital provides consulting services and funding procurement for businesses in Tucson. The company’s primary goal is to give small businesses quick access to capital, and it offers business funding estimates within two hours. Many Tucson customers rave about working with the company’s friendly and knowledgeable sales team members.

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Imperial Advance

Imperial Advance

CALL IMPERIAL ADVANCE

(888) 633-2083 VISIT IMPERIAL ADVANCE

Imperial Advance has provided funding to thousands of business owners for more than 25 years. The company has a variety of financing options and offers in-house loans as well as loans through an extensive network of lenders. Tucson customers love the easy, straightforward application and process.

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National Business Capital

National Business Capital

CALL NATIONAL BUSINESS CAPITAL

(866) 270-5585 VISIT NATIONAL BUSINESS CAPITAL

National Business Capital’s goal is to provide easy business financing. The company uses a streamlined application process with limited paperwork to provide quick approvals. The company’s financing options include small business loans and business lines of credit. Customers in Tucson appreciate the ease of the process.

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Commerce Bank of Arizona

Commerce Bank of Arizona

Commerce Bank of Arizona offers a variety of business loans and services including mobile and online banking. The company has advisors to help you decide the best loan for your company. Business owners in Tucson appreciate the individualized service, but some people say the process takes longer than expected.

National Bank of Arizona

National Bank of Arizona

National Bank of Arizona provides direct access to Arizona bankers to help you find financial solutions. The lender offers loans including business lines of credit, term loans, equipment financing and SBA loan programs. Tucson customers praise the high quality of customer service, but some say the process can be long and difficult.

Our partners independently research and analyze the companies mentioned in our guides and work with subject matter experts to add valuable information that helps consumers make smart purchase decisions. Our partners will not include companies on these guides that do not meet specific quality standards. The compensation we receive from our partners may impact how and where companies appear on our site, including the order in which they appear.

Our partners independently research companies, and use editorial discretion to award companies with special recognition (i.e. Best Value) based on their staff’s judgement or subject matter expert’s judgement. Our partners do this to help you identify companies that will meet your specific buying needs, and do not receive compensation for these designations.