Wisconsin's Preferred SBA Lender
We not only specialize in SBA loans but we are also a SBA Preferred Lender. This means you can expect faster turn-around times with our ability to make decisions locally. Our lenders can help you find the best loan for you and your business.
Small Business Startup Loans in Wisconsin and Minnesota SBA 7(a) Program
The SBA 7(a) Loan Program provides business owners with flexible financing options, including working capital loans in Wisconsin and Minnesota. Gain up to $5 million loan amount to cover start-up costs, equipment, working capital, and real estate.
Eligible uses of SBA 7(a) loans include:
- Expand or acquire a business
- Professional Practice Financing (Chiropractors, Dentists, Optometrists, Veterinarians, & Financial Advisors)
- Refinance existing debt
- Equipment financing
- Working Capital
- Financing for building improvements and or leasehold improvements
- Purchase and or refinance of owner-occupied real estate
An SBA 7(a) Loan can be used to establish a new business or acquire, operate or expand an existing business. The maximum SBA 7(a) guarantee is $3,750,000 with a maximum project size of $5,000,000 under the SBA 7(a) loan program. Some loans may be eligible for a down payment as low as 10%.
SBA 504 Program
This long-term loan can be used for the purchase of land or an existing property or building. Loan proceeds can also be used to expand an existing property or building. In addition, the SBA 504 loan program allows for equipment to be financed up to the useful life of the asset of the equipment and in general up to 10 years. This financing involves two loans; one from Citizens State Bank and the other from a Certified Development Company (CDC).
The benefits of an SBA 504 Loan are:
- Low down payments - as little as 10% *In certain cases for start-up or special purpose properties SBA may require up to 20%.
- Ability to obtain a 25-year fixed rate on the SBA/CDC portion of the loan.
- The SBA 504 Program is generally comprised of the following (50% permanent bank financing, 40% SBA 2nd mortgage from the SBA/CDC and 10% borrower down payment).
If you are looking for a startup business loan in Wisconsin or Minnesota, a 504 loan can be used to help a small business grow through land and building acquisitions, while also providing the necessary financing options for long term financing for equipment and machinery.
The maximum SBA 504 is $5,000,000.
SBA Express
You can receive an accelerated lending process with an SBA Express Loan.
This loan offers you the following:
- Streamlined loan application process for loans up to $350,000 for Wisconsin and Minnesota startup businesses.
- Provides working capital lines of credit for manufacturing, wholesale services and retail businesses. May be used to help finance inventory, accounts receivable and working capital needs.
Citizens State Bank empowers startup businesses by offering affordable loans. The SBA Express Loan is an excellent choice for your working capital needs. What makes this loan even better is the line of credit is easy to use and offers favorable terms to use the line of credit for up to 60-months with a term out feature for another 60-months, if needed.
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