Citibank, N.A.
SBA 7(a) Lending Profile · FY 2024 analysis
Industry Focus
Top industries served by Citibank, N.A.
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 236118 | Residential Remodelers | 280 | $14.7M | $52K | 12.7% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 160 | $20.1M | $126K | 7.2% |
| 238210 | Electrical Contractors | 120 | $7.3M | $61K | 5.4% |
| 238990 | All Other Specialty Trade Contractors | 72 | $19.0M | $265K | 3.3% |
| 722511 | Full-Service Restaurants | 64 | $19.5M | $304K | 2.9% |
| 484121 | General Freight Trucking, Long Distance, Truckload | 56 | $1.8M | $33K | 2.5% |
| 424490 | Other Grocery and Related Products Merchant Wholesalers | 48 | $196.0M | $4.1M | 2.2% |
| 238340 | Tile and Terrazzo Contractors | 48 | $1.7M | $36K | 2.2% |
| 236220 | Commercial and Institutional Building Construction | 48 | $4.3M | $90K | 2.2% |
| 238350 | Finish Carpentry Contractors | 48 | $3.0M | $62K | 2.2% |
Geographic Distribution
SBA lending activity for Citibank, N.A. by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Florida (FL) | 264 | $420.9M | 12.0% |
| California (CA) | 688 | $273.7M | 31.2% |
| New York (NY) | 864 | $266.1M | 39.1% |
| Illinois (IL) | 176 | $111.2M | 8.0% |
| New Jersey (NJ) | 56 | $58.6M | 2.5% |
| Texas (TX) | 40 | $51.3M | 1.8% |
| Massachusetts (MA) | 8 | $31.2M | 0.4% |
| Maryland (MD) | 24 | $4.9M | 1.1% |
| Connecticut (CT) | 72 | $3.5M | 3.3% |
| Virginia (VA) | 8 | $2.0M | 0.4% |
| District of Columbia (DC) | 8 | $200K | 0.4% |
Why Choose Citibank, N.A.?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 2,208 SBA loans approved, totaling $1.22B in financing
- ✓Industry Expertise: Specialized focus on Residential Remodelers, Plumbing, Heating, and Air-Conditioning Contractors, Electrical Contractors
- ✓Competitive Terms: Average interest rate of 7.85% with flexible term lengths averaging 96 months
- ✓Loan Range: Loan sizes from $6K to $5.0M, with an average of $554K
- ✓Nationwide Reach: Active lending in 11 states, with strong presence in NY, CA, FL
Note: Approval and terms are subject to SBA and lender requirements. This profile is based on historical data and does not guarantee future lending decisions.
Frequently Asked Questions
Common questions about Citibank, N.A. SBA lending
What types of businesses does Citibank, N.A. typically finance?
Citibank, N.A. specializes in SBA 7(a) lending to specific industries including residential remodelers, plumbing, heating, and air-conditioning contractors, electrical contractors, all other specialty trade contractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Citibank, N.A.'s typical SBA loan terms?
Citibank, N.A.'s SBA 7(a) loans typically feature an average interest rate of 7.85% and average term length of 96 months (approximately 8 years). Loan sizes range from $6K to $5.0M, with an average loan size of $554K.
Do I need a business valuation for a Citibank, N.A. SBA loan?
Yes, Citibank, N.A. typically requires a professional business valuation for SBA loans over $250,000 or for change-of-ownership transactions. A certified valuation helps establish the purchase price, loan amount, and ensures SBA compliance. The valuation typically costs $5,000-$15,000 depending on business complexity.
How does Citibank, N.A. compare to other SBA lenders?
Citibank, N.A. has originated 2,208 SBA loans totaling $1.22B since 2020. They distinguish themselves through industry specialization and expertise in their focus sectors. Compare their rates and terms with other lenders in our Commercial Lending Directory.
What states does Citibank, N.A. lend in?
Citibank, N.A. provides SBA 7(a) financing with particularly strong presence in NY, CA, FL, IL, CT. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
Before applying for SBA financing, research your industry's typical loan sizes, approval rates, and specialized lenders. Understanding industry-specific financing patterns can help you find the right lender and strengthen your application.
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Professional valuations are often required for SBA loans over $250,000.
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