Citizens National Bank of Albion
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Citizens National Bank of Albion · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 2 | $52K | $26K | 6.5% |
| 327320 | Ready-Mix Concrete Manufacturing | 2 | $125K | $63K | 6.5% |
| 811111 | General Automotive Repair | 2 | $34K | $17K | 6.5% |
| 561740 | Carpet and Upholstery Cleaning Services | 1 | $6K | $6K | 3.2% |
| 112111 | Beef Cattle Ranching and Farming | 1 | $25K | $25K | 3.2% |
| 332710 | Machine Shops | 1 | $15K | $15K | 3.2% |
| 621210 | Offices of Dentists | 1 | $55K | $55K | 3.2% |
| 713950 | Bowling Centers | 1 | $150K | $150K | 3.2% |
| 541940 | Veterinary Services | 1 | $100K | $100K | 3.2% |
| 621310 | Offices of Chiropractors | 1 | $150K | $150K | 3.2% |
Geographic Distribution
SBA lending activity for Citizens National Bank of Albion by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Illinois (IL) | 31 | $2.9M | 100.0% |
Why Choose Citizens National Bank of Albion?
Based on SBA 7(a) lending track record from 1991-2013
- ✓Proven Track Record: 31 SBA loans approved, totaling $2.9M in financing
- ✓Industry Expertise: Specialized focus on Automotive Body, Paint, and Interior Repair and Maintenance, Ready-Mix Concrete Manufacturing, General Automotive Repair
- ✓Competitive Terms: Average interest rate of 4.50% with flexible term lengths averaging 110 months
- ✓Loan Range: Loan sizes from $6K to $700K, with an average of $94K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in IL
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 National Bank of Albion SBA lending
What types of businesses does Citizens National Bank of Albion typically finance?
Citizens National Bank of Albion specializes in SBA 7(a) lending to specific industries including automotive body, paint, and interior repair and maintenance, ready-mix concrete manufacturing, general automotive repair, carpet and upholstery cleaning services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Citizens National Bank of Albion's typical SBA loan terms?
Citizens National Bank of Albion's SBA 7(a) loans typically feature an average interest rate of 4.50% and average term length of 110 months (approximately 9 years). Loan sizes range from $6K to $700K, with an average loan size of $94K.
Do I need a business valuation for a Citizens National Bank of Albion SBA loan?
Yes, Citizens National Bank of Albion 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 National Bank of Albion compare to other SBA lenders?
Citizens National Bank of Albion has originated 31 SBA loans totaling $2.9M since 1991. 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 National Bank of Albion lend in?
Citizens National Bank of Albion provides SBA 7(a) financing with particularly strong presence in IL. 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?
Certified valuations are often required for SBA loans over $250,000.
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