Citizens Bank
Made Ready.
Overview
Citizens Bank is a major U.S. regional bank with a strong presence in the New England, Mid-Atlantic, and Midwest regions. As an SBA Preferred Lender, it has the authority to approve loans on behalf of the SBA, which significantly speeds up the process. The bank states it can approve and close SBA loans in about 45 days, which is much faster than the typical 60- to 90-day timeline, making it an attractive option for businesses that prioritize speed.
✨ Key Features
- SBA Preferred Lender
- Faster approval and closing times (approx. 45 days)
- Offers SBA 7(a), 504, and Express loans
- Strong regional branch network
- Dedicated business banking specialists
🎯 Key Differentiators
- Significantly faster processing time for SBA loans due to its Preferred Lender status and internal processes
- Strong regional focus and community involvement
- Relationship-based banking model
Unique Value: Provides the speed and efficiency of a specialized lender for SBA loans, combined with the stability and full-service relationship of a major regional bank.
🎯 Use Cases (3)
✅ Best For
- SBA 7(a) loans
💡 Check With Vendor
Verify these considerations match your specific requirements:
- Businesses outside of Citizens Bank's geographical footprint
- Companies seeking a fully online, fintech experience
🏆 Alternatives
While many banks are SBA Preferred Lenders, Citizens actively markets its ability to close loans faster than the industry average, making it a top choice for time-sensitive financing needs.
💻 Platforms
🛟 Support Options
- ✓ Email Support
- ✓ Live Chat
- ✓ Phone Support
- ✓ Dedicated Support (Relationship Manager tier)
🔒 Compliance & Security
💰 Pricing
Free tier: Loan products have standard SBA interest rates and fees.
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