Wells Fargo has a new trick up its sleeve.
The bank announced on Tuesday it is launching a new product called FastFlex Small Business Loan.
Wells Fargo says the product is an online, fast-decision loan that is funded as soon as the next business day and offers competitive rates to small businesses. The loans will range from $10,000 to $35,000.
“FastFlex Small Business Loan will help by offering short-term credit through an easy, fast-decision application process that includes competitive interest rates, clear terms and as-soon-as next day funding,” Lisa Stevens, Wells Fargo’s head of Small Business, said in a statement. “This will put short-term credit within reach for many small businesses seeking to achieve financial success.”