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Home \ CB Small Business Readiness Tool \ Loan FAQs: Common Questions About Small Business Loans

Loan FAQs: Common Questions About Small Business Loans

How long will the process take?

For our general business loans the process can take 2-4 weeks. Loan approval can take 1-2 weeks after the receipt of any requested documents.

What type of business loans do you offer?

Business Term Loans, Real Estate Mortgage, Business Line of Credit, Construction, Equipment Loans and SBA Loans.

What documentation will I need when I apply for a loan?

Driver’s License, business owners personal tax returns, business tax returns, personal financial statement,
year-to-date business financial statements with 2 year comparison (balance
sheet, profit & loss, A/R aging).

If you are a start-up business you will need to provide driver’s license, personal tax returns, personal financial statement, complete business plan with projections.

What are typical small business loan terms?

Loan terms vary from a year to 25 years depending on the type of loan.

Will the Readiness Tool collect my personal information?

No information is collected and is 100% private. We will only know you completed the tool if you contact us to apply for a small business loan or to get more information.

Will it impact my ability to receive a loan if I complete the CB Small Business Readiness Tool?

The tool is a calculator for your use only to help you determine if you are ready to apply for a loan.

 

 

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Downtown Office

102 Main St South
PO Box 339
Hutchinson, MN 55350

Phone 320-587-2233
Toll 888-234-2910
Fax 320-587-5738

South Office

1390 Hwy 15 South
PO Box 339
Hutchinson, MN 55350

Phone 320-587-2233
Fax 320-234-0682

Lobby Hours

Mon-Fri 9am-4pm

Drive Thru Hours

Mon-Fri 8am-5pm
Saturday 9am-12pm
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All Rights Reserved. Privacy Policy

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© 2023 Citizens Bank & Trust Co.
All Rights Reserved. Privacy Policy

Website Developed by Vivid Image