Which Small Business Loan Is Right for Your Business?

Business growth often goes hand-in-hand with new expenses. Getting a small business loan or line can provide you with the financing you need to manage cash flow, cover the cost of an expansion, or new equipment.


Citizens Bank provides small business mortgages with benefits like flexible terms and generous borrowing limits to help you further expand or refinance your current property; there are also term loans and SBA loans that can help you purchase assets, including inventory. Small business lending is available with short- or long-term financing options and may be financed with different types of collateral.


Explore the small business financing options below to find out how to get small business credit that is best suited to your business plan.

SBA loans for businesses with special circumstances or a less established credit history

Getting a small business loan for a new business that has limited credit history is typically more difficult than getting a small business loan as a business with an established credit history. However, because SBA loans and lines are backed by the government, businesses with limited credit may qualify for SBA lending.


Examples include:

  • SBA Express loans are typically for businesses that want to improve cash flow, refinance debt, or fund improvements, equipment, or real estate. There are fixed or variable rate term loans or lines of credit with borrowing limits up to $350,000. They typically have the easiest SBA application process, quick approval times, flexible terms, and low down payment requirements.
  • SBA Advantage Loans are used for starting, expanding, improving, refinancing, or acquiring a business. They feature longer terms and lower down payment requirements than conventional loans. There are fixed or variable rate term loans with borrowing limits up to $5,000,000.

SBA 504 loans to purchase real estate

  • Whether you’re buying land or a new building or you’re doing construction on your current space, you may be able to use an SBA 504 development loan. An SBA Grow Loan is backed by the government and provides the long-term financing needed to purchase a new space as well as needed machinery and equipment. There are fixed or variable rate terms loans with borrowing limits up to $12,000,000.

Use a business line of credit to grow your inventory

  • Revolving business lines of credit are designed to get you the short-term liquidity you need to manage working capital, with flexible payment options and consistent buying power.
  • Flex Loans/Business Flex Loans are another option to improve your purchasing power when acquiring assets such as computers, machinery, vehicles, or business furnishings. Make multiple purchases during a six-month revolving draw period with total loan terms of 48-60 months or multiple purchases during a 12-month revolving draw period with total loan terms of 72 months.

More information

We are committed to helping your business succeed. Our dedicated business banking professionals can help you find the right product to meet your business’ needs. To learn more about small business loans, please call 1-800-428-7463, visit us online, or visit your nearest Citizens Bank Branch.


Disclaimer: Any extension of credit shall be subject to the credit approval policy of Citizens Bank. Additional terms and conditions shall apply including but not limited to the completion and submission of the Citizens Bank credit application. Nothing in article shall be deemed an offer, approval, or commitment of credit of any kind. All of the terms and conditions in this article are subject to change at any time at the discretion of Citizens Bank.


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