Growing businesses have specialized financing needs. SBA loans are one way we can help.
As a Preferred SBA Lender and leading participant in U.S. Small Business Administration loan programs, we are committed to supporting the growth and development of small businesses in America. SBA loans provide more flexible terms, lower down payment requirements, and an easier qualification process than conventional loans.
Maximum loan amount
$5 million
Interest rates
Fixed or variable
Eligible use of proceeds
Term Loan
Expansion/renovation; new construction, purchase land or building; purchase equipment, fixtures, leasehold improvements; working capital; refinance debt for compelling reasons; for inventory or starting or purchasing a business.
Benefits
Maximum loan amount
$500,000
Interest rates
Fixed or variable
Eligible use of proceeds
May be used for revolving lines of credit (must have term-out period less than draw period) or for a term loan.
Benefits
* Discounts available to veterans
Maximum loan amount
$500,00 (This amount is NOT reduced by an SBA Express Loan amounts).
Interest rates
Fixed or variable
Eligible use of proceeds
Same as SBA Express plus standby letters of credit. No requirement for term out period.
Benefits
Provided through Certified Development Companies (CDCs) which are licensed by SBA
Maximum loan amount
504 CDC maximum amount ranges from $5 million to $5.5 million, depending on type of business or project.
Interest rates
Fixed rate on 504 Loan established when the debenture backed loan is sold. Declining prepayment penalty for 1/2 of term.
Eligible use of proceeds
Long-term, fixed asset loans; Lender (non-guaranteed) financing secured by first lien on project assets. CDC loan provided from SBA 100% guaranteed debenture sold to investors at fixed rate secured by 2nd lien.
Benefits
Low down payment - equity (10, 15, or 20%)
(The equity contribution may be borrowed as long as it is not from an SBA loan)This term loan is the most versatile SBA loan program. It features fixed or variable SBA loan rates, flexible terms, and lower down payment requirements than conventional loans.
Ideal for businesses with less established credit that want to improve cash flow, refinance debt, fund improvements, or purchase equipment or real estate. Like other SBA loans, it features longer terms and lower down payment requirements than conventional loans.
This term loan or line of credit offers fixed or variable SBA loan rates as well as the easiest SBA application process, quick approval times, flexible terms, and lower down payment requirements than conventional loans.
Ideal for businesses with less established credit that want to improve cash flow, refinance debt, or fund improvements, equipment, or real estate. It features the easiest SBA application process and accelerated approval times, plus it offers longer terms and lower down payment requirements than conventional loans.
These combined term loans offered by the bank in participation with a Community Development Organization (CDC) have fixed or variable bank loan rates and offers the highest loan amounts, plus longer-term options, and lower down payment requirements than conventional loans.
Ideal for larger, established businesses that need long-term financing for heavy machinery or the acquisition, construction, or improvement of real estate that is primarily owner occupied. The program features generous loan amounts and offers up to 90% financing.
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Please note: Citizens Business Banking Products and Services are offered in the following states: Connecticut, Delaware, Florida, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia and Washington, D.C.
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All accounts and services are subject to individual approval.