Ukraine
USA
Austria
Pros&Cons
- No-fee business checking option
- Upfront relationship loan discounts
- No overdraft fees
- Approved SBA lending programs
- Limited geographic availability
- Low business deposit yields
- Strict transaction volume caps
- Below-average satisfaction scores
What Types of Businesses Are Typically Financed?
Truist Bank primarily finances established, revenue-generating small businesses or corporation that operate within its core physical footprint across the Southeast and Mid-Atlantic regions. The bank strongly prioritizes traditional, for-profit business models that hold or are willing to open a Truist commercial checking account.
Business structure
LLCs, Corporations (S-Corp/C-Corp), Partnerships, and Sole Proprietorships.
Business stage
Business stage Established companies with a steady operating track record. Startups are generally restricted from conventional lines unless backed by specific equity injections or personal collateral.
Minimum annual revenue
Undisclosed for micro-loans under $50,000; however, to obtain a loan over $250,000, an annual revenue of at least $2,000,000.
Industries
Mainstreet businesses (retail, professional services, contracting). Wholesale specialized teams target high-volume sectors including Healthcare, Automotive Dealerships, Agriculture, and Supply Chain/Logistics.
Geography
Borrowers must typically operate within Truist's 15-state physical brick-and-mortar footprint across the Southeast and Mid-Atlantic regions.
Use of funds
Working capital, business debt consolidation, inventory acquisition, light-duty commercial vehicle purchases, equipment upgrades, or owner-occupied commercial property.
Financial profile
Profitable operational history with a strong Debt Service Coverage Ratio (DSCR).
Ownership
U.S.citizens, foreign individuals
Business credit score
A solid commercial credit profile (Dun & Bradstreet, Experian Business, and Equifax Business) demonstrating consistent on-time vendor and trade payments.
Personal credit score
680+
U.S. bank account
A U.S. business bank account is required.
EIN / SSN / ITIN
A valid Employer Identification Number (EIN) for the entity is required. Social Security Numbers (SSN) or Individual Taxpayer Identification Numbers (ITIN) are mandatory for all key owners providing personal guarantees.
What Business Loan Products Are Available?
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Simple Business Loan
DescriptionApply nowAn unsecured term loan designed for everyday business expenses, expansion projects, equipment purchases, or working capital needs.
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Small business auto loan
DescriptionApply nowFinancing for the purchase or refinancing of cars, vans, SUVs, and light trucks used for business operations.
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Small business commercial vehicle and equipment loan
DescriptionApply nowFlexible financing for commercial vehicles, machinery, and equipment to support business growth, upgrades, or replacement purchases.
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Small business real estate loan
DescriptionApply nowLong-term financing to purchase, refinance, or improve owner-occupied commercial real estate for business use.
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Small business line of credit
DescriptionApply nowA revolving credit facility that provides flexible access to working capital for managing cash flow, inventory, payroll, and seasonal business needs.
What Documents Are Required to Apply?
Gathering your paperwork ahead of time ensures a smooth, uninterrupted application flow with Truist. Depending on whether you are pursuing their uncollateralized Simple Business Loan (up to $50,000) or their larger asset-backed lending tracks (up to $250,000), you will need to organize your files.
Business Financials
Business tax returns for the last 2 fiscal years, including all associated schedules, forms, and K-1s. Profit & loss statement, balance sheet, cash flow statement. The 3 most recent months of consecutive business checking statements.
Owner Financials & Identity
Government ID, legal names, residential addresses (past 2 years), phone numbers, and Social Security Numbers (SSN) or Individual Taxpayer Identification Numbers (ITIN). The 2 most recent years of filed personal Federal Tax Returns for each major owner/gua
Legal & Tax Documents
Business formation documents, Employer Identification Number (EIN) assignment letter. Operating Agreement, Corporate Bylaws, or Partnership Agreement defining ownership structure. Your 6-digit North American Industry Classification System (NAICS) code (re
Loan Purpose & Operations
Narrative or business plan. 12 to 24 months of cash flow projections if you are a scaling business.
Real Estate & Collateral
Purchase contracts, property deeds&leases. Existing vehicle registrations or commercial asset listings if pledging equipment you already own as security.
Create a Bank-Ready Business Plan in Minutes
40+ bank-approved structure
Easily generate a financial plan
60+ Page AI PDF in 5 Minutes
Modern design, no extra editing
How Does the Business Loan Application Process Work?
Loan Planning
Identify your financing needs and choose the right loan product.
1 business day
Choosing the wrong financing option.
Submit Application
Complete the application and provide the required documentation.
30–90 minutes
Missing or inaccurate information.
Underwriting
Truist reviews your credit profile, financials, and repayment capacity.
Several days to several weeks
Incomplete financial documentation.
Credit Decision
Receive an approval or decline and review the proposed loan terms.
1–2 business days after underwriting
Not reviewing loan terms carefully.
Closing
Complete final documentation and satisfy any funding conditions.
1–5 business days
Delays in providing required documents.
Funding
Loan proceeds are disbursed after closing requirements are met.
Same day to 3 business days
Delaying final funding requirements.
What Do Customers Say?
Matthew
Stuart, FL
I have been working with Truist Bank at the Stuart Florida location (5545 SE Federal Highway) for several years now. Whether it is a loan, wire transfer, or just simple banking, everyone has been extremely nice to me. Senior Banker ** had been extremely helpful prior to moving to another branch. I would like to point out that recently Senior Relations Banker ** has been so helpful with everything that I have needed to get done as well.
Read more
Steven
St Petersburg, FL
My credit profile has been bad, until the last 2 years. I did improve my situation, went from a credit score of 538 to 737. I moved to Florida back in March 2021 and bought the house I was renting in October 2021. I decided it was time to ditch the bank I have in Michigan. Granted, they are great, but I did not desire to go with Wells Fargo, Bank of America, or Chase, as sometimes the big banks lose vision on who their most important customer base is. Truist seemed logical. They are where I am at and they have an established reputation from SunTrust and BB&T and they support the LGBT community in the southern communities, which is vitally important to me.
Read moreCommon Reasons for Loan Denial — and What to Do Next
Truist Bank utilizes a strict underwriting model derived from the classic "Five C's of Credit," which can trigger rapid automated denials if a business exhibits high utilization or weak cash coverage.
Reason for Denial
What to Do
Low Personal Credit Score
01
Pay down outstanding personal revolving credit card balances below 30% utilization and pull your credit reports.
Inadequate Cash Flow
02
Provide updated interim financial statements that highlight recent cost-cutting measures.
Excess Existing Debt Liabilities
03
Consolidate your shortest-term high-interest working capital lines or apply for a longer-term SBA 7(a) loan specifically earmarked to restructure your current debt.
Insufficient Time in Business
04
Transition your primary day-to-day banking over to a Truist business checking account to prove structural stability.
Missing or Weak Collateral
05
Pivot your application toward Truist’s uncollateralized Simple Business Loan track or check your eligibility for an SBA loan.
How Growexa Helps You Get Approved Faster
Bank evaluates business loan applications through structured underwriting, where cash flow, debt load, and loan purpose must align clearly. Growexa helps you prepare a Bank-ready business plan that matches how the bank reviews applications during underwriting.
Pre-qualification before applying
Validate cash flow, debt capacity, and loan size before approaching the bank.
Matching with the right lender
Position your business plan based on lender criteria and loan type.
Reducing rejection risk
Align financials, projections, and loan purpose into one coherent, bank-ready plan.
Working with multiple banks at once
Use the same structured business plan across multiple lenders without reworking it.
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Pre-qualification before applying Validate cash flow, debt capacity, and loan size before approaching the bank.
Matching with the right lender Position your business plan based on lender criteria and loan type.
-
Reducing rejection risk Align financials, projections, and loan purpose into one coherent, bank-ready plan.
Working with multiple banks at once Use the same structured business plan across multiple lenders without reworking it.
Growexa helps you prepare a bank-ready business plan that speaks the language of lenders—so you can move through underwriting faster and with fewer rejections.
FAQ
01
Does Truist Bank issue SBA-backed business loans?
Yes. Truist is an approved Small Business Administration (SBA) lender offering both SBA 7(a) and SBA 504 loan options ranging from $500 up to $5 million for qualifying companies.
02
Do Truist business loans require a personal guarantee?
Truist requires a personal guarantee from all business owners who hold an equity or ownership stake of 20% or more in the company.
03
Can I get a business loan from Truist without collateral?
The Truist Simple Business Loan offers entirely unsecured financing up to $50,000 with no physical collateral or liquidity verification required for eligible applicants.
04
How much can I borrow through a conventional Truist small business loan?
Conventional small business lending products max out at $250,000; any capital requests exceeding this limit automatically transition your application into Truist's Commercial and Wholesale Banking tier.
05
Is there an interest rate discount for existing Truist account holders?
Qualifying Truist Dynamic Business Checking clients can receive a relationship interest rate discount of up to 0.50% on select small business loan products.
