The Citizens National Bank of Meridian
SBA 7(a) Lending Profile · FY 2021 analysis
Industry Focus
Top industries served by The Citizens National Bank of Meridian · FY 2021
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 621330 | Offices of Mental Health Practitioners (except Physicians) | 1 | $433K | $433K | 33.3% |
| 551112 | Offices of Other Holding Companies | 1 | $439K | $439K | 33.3% |
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 1 | $47K | $47K | 33.3% |
Geographic Distribution
SBA lending activity for The Citizens National Bank of Meridian by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Mississippi (MS) | 3 | $918K | 100.0% |
Why Choose The Citizens National Bank of Meridian?
Based on SBA 7(a) lending track record in FY 2021
- ✓Proven Track Record: 3 SBA loans approved, totaling $918K in financing
- ✓Industry Expertise: Specialized focus on Offices of Mental Health Practitioners (except Physicians), Offices of Other Holding Companies, Automotive Body, Paint, and Interior Repair and Maintenance
- ✓Competitive Terms: Average interest rate of 5.76% with flexible term lengths averaging 112 months
- ✓Loan Range: Loan sizes from $47K to $439K, with an average of $306K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in MS
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 The Citizens National Bank of Meridian SBA lending
What types of businesses does The Citizens National Bank of Meridian typically finance?
The Citizens National Bank of Meridian specializes in SBA 7(a) lending to specific industries including offices of mental health practitioners (except physicians), offices of other holding companies, automotive body, paint, and interior repair and maintenance. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are The Citizens National Bank of Meridian's typical SBA loan terms?
The Citizens National Bank of Meridian's SBA 7(a) loans typically feature an average interest rate of 5.76% and average term length of 112 months (approximately 9 years). Loan sizes range from $47K to $439K, with an average loan size of $306K.
Do I need a business valuation for a The Citizens National Bank of Meridian SBA loan?
Yes, The Citizens National Bank of Meridian 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 The Citizens National Bank of Meridian compare to other SBA lenders?
The Citizens National Bank of Meridian has originated 3 SBA loans totaling $918K in FY 2021. 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 The Citizens National Bank of Meridian lend in?
The Citizens National Bank of Meridian provides SBA 7(a) financing with particularly strong presence in MS. 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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