At Comerica, we’ve been helping businesses succeed since 1871. We have dedicated small business specialists available, with the knowledge and experience necessary to provide flexible borrowing options to keep your business running smoothly. With competitive rates and a variety of lending solutions, you’ll see why Comerica is the Leading Bank for Business*.

Advantages of a Comerica Community Banking Term Loan

  • Competitive fixed or variable rate of interest
  • Loan term options available
  • Available to fully amortize (pay off) loan with equal monthly payments
  • Useful life of asset is matched to term of loan
  • Automatic monthly payments from a Comerica business checking account

Account Feature

A small business term loan from Comerica lets you grow. With both fixed rate and variable rate options and loan amounts up to $750,0001, our lenders can help you find a long-term financing strategy that works for you.

Business Purpose

We offer a range of secured and unsecured options to help you achieve your goals. A business term loan can be used for long-term financing of business assets that your business will use over several years such as computers, office furniture, equipment, vehicles and commercial real estate. Loans secured by commercial real estate can be used to purchase property or to leverage commercial real estate equity to expand or remodel business operations.

Pricing

  • Available in fixed or variable rate terms
  • Rates and fees vary based on collateral type used
  • 0.25% rate discount for customers with Comerica deposit relationship of 50% or more of the total loan request/exposure

Acceptable Collateral Options2

  • Cash, CD, Marketable Securities
  • Owner Occupied Commercial Real Estate3 or Residential Real Estate4
  • General Business Asset, New/Existing Equipment or Vehicle, Investor Real Estate5
  • Unsecured

Payment Schedule

  • Monthly auto-payment required
  • Monthly principal and interest payments

Fees

Closing Fees

  • $75 Vehicle secured
  • $125 Cash, CD or Marketable Securities held in a Comerica brokerage account, or unsecured
  • $250 General business assets secured
  • $400 Real estate secured

Real Estate Closing Fees

  • $250 Title search6
  • $300 Residential real estate appraisal7
  • $500 Commerical real estate evaluation8
  • $500 Environmental questionnaire9

Prepayment Penalty Premium

  • Applies to fixed-rate term loans10