Citizens Bank & Trust Co
SBA 7(a) Lending Profile · FY 2022 analysis
Industry Focus
Top industries served by Citizens Bank & Trust Co · FY 2022
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 531190 | Lessors of Other Real Estate Property | 2 | $406K | $203K | 20.0% |
| 236220 | Commercial and Institutional Building Construction | 1 | $50K | $50K | 10.0% |
| 458110 | Clothing and Clothing Accessories Retailers | 1 | $34K | $34K | 10.0% |
| 811310 | Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance | 1 | $1.0M | $1.0M | 10.0% |
| 323111 | Commercial Printing (except Screen and Books) | 1 | $38K | $38K | 10.0% |
| 621310 | Offices of Chiropractors | 1 | $23K | $23K | 10.0% |
| 445240 | Meat Retailers | 1 | $13K | $13K | 10.0% |
| 541990 | All Other Professional, Scientific, and Technical Services | 1 | $100K | $100K | 10.0% |
| 112990 | All Other Animal Production | 1 | $50K | $50K | 10.0% |
Geographic Distribution
SBA lending activity for Citizens Bank & Trust Co by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 10 | $1.7M | 100.0% |
Why Choose Citizens Bank & Trust Co?
Based on SBA 7(a) lending track record in FY 2022
- ✓Proven Track Record: 10 SBA loans approved, totaling $1.7M in financing
- ✓Industry Expertise: Specialized focus on Lessors of Other Real Estate Property, Commercial and Institutional Building Construction, Clothing and Clothing Accessories Retailers
- ✓Competitive Terms: Average interest rate of 5.47% with flexible term lengths averaging 115 months
- ✓Loan Range: Loan sizes from $13K to $1.0M, with an average of $171K
- ✓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 & Trust Co SBA lending
What types of businesses does Citizens Bank & Trust Co typically finance?
Citizens Bank & Trust Co specializes in SBA 7(a) lending to specific industries including lessors of other real estate property, commercial and institutional building construction, clothing and clothing accessories retailers, commercial and industrial machinery and equipment (except automotive and electronic) repair and maintenance. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Citizens Bank & Trust Co's typical SBA loan terms?
Citizens Bank & Trust Co's SBA 7(a) loans typically feature an average interest rate of 5.47% and average term length of 115 months (approximately 10 years). Loan sizes range from $13K to $1.0M, with an average loan size of $171K.
Do I need a business valuation for a Citizens Bank & Trust Co SBA loan?
Yes, Citizens Bank & Trust Co 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 & Trust Co compare to other SBA lenders?
Citizens Bank & Trust Co has originated 10 SBA loans totaling $1.7M in FY 2022. 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 & Trust Co lend in?
Citizens Bank & Trust Co 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.
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