Frequently Asked Questions

FAQs

The following are Frequently Asked Questions about the Small Business Loan Program.

  • What businesses generally qualify for this kind of funding?

    Citizens Business Finance specializes in funding small to mid-sized businesses. We have also successfully funded top franchise concepts, and helped other businesses commonly rejected by traditional financial institutions. Most businesses might qualify for the Small Business Loan Program, provided they have been in business at the same location for two years, have a minimum of $15,000 monthly in gross sales and meet other general qualifications. There are specific industries that will not qualify to receive a loan under the Small Business Loan Program including (but not limited to) borrowers in the adult entertainment, gambling, real estate, mortgage or collection industries. How much can my business get with the Small Business Loan Program?
  • How much can my business get with the Small Business Loan Program?

    A qualified business could receive up to $150,000 per location.
  • How does my business apply for the Citizens Business Finance funding program?

    Fill out our online application form and get the process started immediately. You must have owned the business for a minimum of two years, be able to provide proof of ownership, have a minimum of $15,000 monthly in gross sales, and meet a few other simple requirements. You can always call toll-free 888-333-1615 to speak with a sales representative for more detailed information.
  • Will Citizens Business Finance have to review my personal credit?

    Yes, but this information does not carry as much weight as it does in other financial arrangements. It is important to remember that, with this Small Business Loan Program, a business owner's poor or damaged personal credit history is not an automatic disqualifier for the business. Many businesses that have trouble obtaining capital from banks can qualify and enjoy continuing success with the Small Business Loan Program.
  • How soon can my business get the money?

    This all depends on you. If you are able to provide the requested information promptly, funding usually able to provide funding usually takes place within 10 - 14 business days.
  • What can my business use the money for?

    Essentially, you can use the money for most anything your business needs. Many businesses will renovate or add physical improvements to their establishments, many will buy additional inventory or handle payroll issues, and many use the money to take advantage of a timely opportunity. We let each business decide how it is best served.
  • How is the Small Business Loan repaid?

    The loan is repaid via daily ACH payments from your business bank account over a fixed repayment schedule.
  • With my business' original Small Business Loan repaid, can it receive additional funding?
    Certainly. In fact, since it is so easy to do and so beneficial to their business efforts, 75% of eligible customers return to take advantage of additional funding opportunities.
  • How can I check on my account status?

    We have dedicated customer support ready to help you answer any question. You can always call toll-free.