Synovus Bank Small Business Loan Review

Anne Miller

Anne Miller

Senior Author

Anne Miller

Senior Author

Find the Best Rates for Your Small Business Loan

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Synovus Bank Small Business Loan ReviewSynovus Bank is a group of regional banks that offers a full complement of banking and financial services for businesses and individuals. Business loans at Synovus bank have fixed or adjustable interest rates. Businesses can choose between adjustable of fixed rates depending on the business’s’ needs and possibilities and also on the term of the loan. Synovus bank offers flexible terms for these loans. Clients will be able to repay the business loan in monthly payments and also repay the loan before the end of the term.

Understanding Your Loan Options

Business loans at Synovus bank have fixed or adjustable interest rates. Businesses can choose between adjustable of fixed rates depending on the business’s’ needs and possibilities and also on the term of the loan. Commercial business loans at Synovus bank require collateral from the borrower to secure the loan amount. The borrower can use the money borrowed to start their business, expand a business, purchase new equipment, purchase building for their business or even to consolidate debts.

SBA loans available at Synovus include the SBA 7(a) Loan Program, which is the most popular SBA loan option, that has low interest rates and very flexible repayment terms. The SBA offers this loan for a new business or for an existing one to expand or refinance.

The 504 SBA loans are specially designed for small companies who need extra help to improve their cash flow or need to become more financially efficient. The Export Working Capital SBA Loan available at Synovus bank helps small businesses get the extra cash they need in order to export their products.

Duration of Loans and Speed of Application

SBA loans at Synovus bank have a faster application process and longer repayment terms. They also have fewer eligibility requirements so that many companies can have access to them. Nearly all banks offer SBA loans so interest rates at Synovus bank are quite good and competitive. These loans can have fixed or flexible terms and monthly payments can be really low once a company gets back on its feet.

SBA loans at Synovus bank have a faster application process and longer repayment terms. They also have fewer eligibility requirements so that many companies can have access to them.

Final Thoughts and Fine Print

The advice and guidance offered by Synovus Bank does not necessarily come cheap. The bank expects its customers to pay for access to their expertise. Get a rundown of the charges before you sign on the dotted line.

Anne Miller


Anne is a Senior Author for SBL. She began her career as an independent consultant for local businesses after graduating with a BA in Management. Since that time, she’s expanded to writing as well as consulting to spread helpful knowledge to small business owners across the country.

 

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