Bank of America is an American multinational banking and financial services corporation headquartered in Charlotte, North Carolina. It is the second largest bank holding company in the United States by assets

Small Business Administration (SBA) loan is a federal agency that offers partial loan guarantees on qualified applicants to increase the likelihood of approval.

Bank of America participates with the SBA in making loans. Bank of America is consistently a leader in 504 lending, and also participates in the 7(a) program.

Your decision for your confusion about a loan, a line of credit or a lease all depends on your individual circumstances.
A term loan provides financing for capital expenditures such as fixed assets and other equipment needs which are regularly amortized over a period of years (for example, 1 to 5 years).
A line of credit gives you the flexibility and convenience of easily accessing funds whenever you need them for short-term financing needs, without having to apply for a new loan.
A lease can provide you with vehicle and equipment financing along with some additional benefits that a loan or line of credit can't provide. Please consult with your tax advisor.
The purpose for which you intend to utilize the funds will also help you decide which to choose. For example, a line of credit is the perfect solution for funding short-term operating capital needs.
On the other hand, a term loan or a lease is a much better financing solution than a line of credit for acquiring business equipment or vehicles.

An SBA loan may be the solution for you if your business is growing quickly and you cannot qualify for conventional financing at reasonable terms.

Business line of credit
If you’re a business owner in need of open-ended access to credit for ongoing needs such as seasonal working capital or inventory management, a business line of credit might be the solution for managing your cash flow.
-Flexible revolving credit lines starting at $10,000
-Competitive variable rate based on the prime rate
-Fast, easy access to funds whenever you need them—online, over the phone or in a financial center
-Pay no interest until you draw funds
-Pay in full or over time

Your line of credit may be
-Unsecured (borrow $100,000 or less)
-Secured with a blanket lien on your assets
-Secured with a certificate of deposit (borrow up to 100% of the CD value)