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Small Business (SBA) Loans

Citizens State Bank has been helping businesses obtain Small Business Administration (SBA) guaranteed loans for over 20 years.

 If you are a business owner looking to expand your business, modernize your facilities or purchase equipment the SBA guaranteed loan program may fit your needs. SBA guaranteed loans are also available for small business entrepreneurs looking to start up their businesses.  Our extensive knowledge and expertise in SBA lending will help ensure we get the job done quickly and efficiently.


Advantages of SBA Loans:

Preserve Working Capital

  • Low down payments required
  • Flexible terms and low monthly payments
  • Financed assets are usually used as collateral
  • Closing costs and other up-front fees can be financed with the loan

Uses

  • Purchasing, constructing or renovating commercial real estate
  • Purchase or installment of equipment
  • Start up business, acquisition or contract payoff
SBA 504
SBA7(a)
Eligibility
  • Existing, for-profit business
  • Net worth less than $15 million and net profit after taxes less than $5 million
  • Personal liquidity less than 100% of project cost
  • Business must occupy at least 51% of existing facility or 60% in a new facility
  • For-profit business
  • Business size varies defined by SBA standards
  • Business must occupy at least 51% of existing facility or 60% in a new facility
Loan Size
  • Projects up to $15 million
  • $250,000 to $5 million
Collateral
  • Purchased commercial property or equipment
  • Personal guarantee(s) of business owner(s)
  • Purchased commercial property or equipment
  • Business assets
  • Personal assets may be required
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