Chase Bank does not advertise a standard $150,000 personal loan option, with their maximum personal loan amount capped at $100,000.
However, Chase may consider larger loan amounts on a case-by-case basis for qualified borrowers with exceptional creditworthiness and income.
The minimum credit score requirement for a Chase personal loan typically ranges from 660 to 700, depending on the loan amount and the borrower's overall financial profile.
Applicants must demonstrate a stable source of income, either through employment, self-employment, or other reliable means, to qualify for a Chase personal loan.
Chase will likely require detailed financial documentation, including tax returns, pay stubs, and bank statements, to verify the applicant's income and debt-to-income ratio.
Loan terms for Chase personal loans can range from 12 to 60 months, with the specific term dependent on the loan amount and the borrower's creditworthiness.
Interest rates on Chase personal loans are variable and can range from approximately 6% to 24%, based on the applicant's credit profile and the prevailing market rates.
Chase may require the applicant to provide collateral, such as a car or home equity, for larger loan amounts to mitigate the bank's risk.
The application process for a Chase personal loan can take several days to a few weeks, depending on the complexity of the applicant's financial situation and the required documentation.
Chase offers the ability to pre-qualify for a personal loan online, allowing applicants to check their potential loan amount and interest rate without a hard credit inquiry.
In addition to personal loans, Chase also offers small business loans, including SBA 504 loans, which can be used for real estate, equipment, or debt refinancing, with a maximum loan amount that varies by project.
For SBA 504 loans, Chase may charge an SBA fee on the CDC portion of the loan and an origination fee on the bank's portion, with loan terms of up to 25 years available.
Chase's small business lines of credit have an annual fee of 0.25% of the line (with a $200 minimum and $750 maximum), which can be waived if the average utilization over the year is 40% or higher.
The Chase small business line of credit has a revolving period of up to five years, followed by a five-year repayment period.
Chase has recently launched a Special Purpose Credit Program (SPCP) to improve access to credit for small business owners in historically underserved areas, which is the first of its kind to be offered nationally.
For mortgage loans, Chase offers affordable low-down-payment options, and borrowers can use an online affordability calculator to estimate their potential home price, loan amount, down payment, and monthly payment.
Chase's business debit card and online banking platform allow small business owners to make purchases, manage their finances, and access more than 15,000 ATMs and 4,700 branches nationwide.
When applying for an SBA loan through Chase, borrowers will be required to submit financial statements, such as a profit and loss statement or earnings report, that have been updated within the past 120 to 180 days, depending on the loan type.
Chase's business line of credit offers a revolving period of up to five years, followed by a five-year repayment period, and the annual fee can be waived if the average utilization over the year is 40% or higher.
Chase's online credit line calculator can provide an estimate of the maximum amount a borrower may qualify for, based on factors such as their existing mortgage balance and other financial information.