Citizens Bank Minnesota
SBA 7(a) Lending Profile · FY 2021 analysis
Industry Focus
Top industries served by Citizens Bank Minnesota
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 311514 | Dry, Condensed, and Evaporated Dairy Product Manufacturing | 24 | $40.0M | $1.7M | 60.0% |
| 236118 | Residential Remodelers | 16 | $800K | $50K | 40.0% |
Geographic Distribution
SBA lending activity for Citizens Bank Minnesota by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 40 | $40.8M | 100.0% |
Why Choose Citizens Bank Minnesota?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 40 SBA loans approved, totaling $40.8M in financing
- ✓Industry Expertise: Specialized focus on Dry, Condensed, and Evaporated Dairy Product Manufacturing, Residential Remodelers
- ✓Competitive Terms: Average interest rate of 5.35% with flexible term lengths averaging 19 months
- ✓Loan Range: Loan sizes from $50K to $2.0M, with an average of $1.0M
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in MN
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 Citizens Bank Minnesota SBA lending
What types of businesses does Citizens Bank Minnesota typically finance?
Citizens Bank Minnesota specializes in SBA 7(a) lending to specific industries including dry, condensed, and evaporated dairy product manufacturing, residential remodelers. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Citizens Bank Minnesota's typical SBA loan terms?
Citizens Bank Minnesota's SBA 7(a) loans typically feature an average interest rate of 5.35% and average term length of 19 months (approximately 2 years). Loan sizes range from $50K to $2.0M, with an average loan size of $1.0M.
Do I need a business valuation for a Citizens Bank Minnesota SBA loan?
Yes, Citizens Bank Minnesota 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 Citizens Bank Minnesota compare to other SBA lenders?
Citizens Bank Minnesota has originated 40 SBA loans totaling $40.8M 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 Citizens Bank Minnesota lend in?
Citizens Bank Minnesota provides SBA 7(a) financing with particularly strong presence in MN. 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.
Our industry research reports provide comprehensive intelligence for 1,000+ industries including financial benchmarks, growth trends, financing patterns, and which lenders are most active in your sector.
Explore Industry Reports →Need a Business Valuation?
Professional valuations are often required for SBA loans over $250,000.
Get your certified valuation from Fair Market Value.