Big Support for Small Business
At Citizens First Bank, we’re proud to support the growth of local businesses through Small Business Administration (SBA) Loans. Whether you're expanding, renovating, or investing in new equipment, SBA loans offer flexible financing with competitive rates and the trusted guidance of our local lending team. Find out how an SBA loan can help your business flourish today with the help of Citizens First Bank. Speak with a loan officer today at our Holmen, Sparta, Trempealeau, or Viroqua locations, or call to make an appointment with a lender at any of our six convenient locations..
What Is an SBA Loan?
SBA loans are backed by the U.S. Small Business Administration and designed to help small businesses access funding with favorable terms. While the loan is issued and managed by Citizens First Bank, the SBA provides a partial guarantee, making it easier for businesses to qualify.
You remain responsible for the full loan amount, but the SBA’s backing gives lenders added confidence — helping more businesses secure the financing they need to grow.
SBA Loan Eligibility: Who Qualifies?
To be eligible for an SBA-backed loan, your business must meet the following criteria:
Basic Requirements
- Operate for profit – Nonprofits are not eligible.
- Be located in the U.S. – Your business must be physically based in the United States or its territories.
- Be a small business – You must meet SBA size standards, which vary by industry. These standards are based on number of employees or annual revenue.
- Demonstrate need – You must be unable to obtain credit on reasonable terms from non-government sources.
- Be creditworthy – Lenders will evaluate your credit history, financial strength, and ability to repay the loan.
Ineligible Businesses
Some types of businesses are not eligible for SBA loans, including:
- Businesses engaged in illegal activities
- Speculative ventures
- Lending institutions
- Pyramid sales plans
- Gambling businesses (with some exceptions)
Additional Considerations
- You must have a sound business purpose for the loan.
- SBA loans can be used for working capital, equipment, real estate, refinancing debt, and more.
- The SBA guarantees a portion of the loan, but you remain responsible for the full amount.
SBA Loans Can Help With:
- Business expansion or relocation
- Equipment purchases
- Real estate acquisition or renovation
- Working capital
- Inventory and supplies
- Business improvements and investments
Why Work with Citizens First Bank?
Competitive Rates - SBA loan options designed to support your bottom line.
Local Lending Decisions - Work with people who know your business and your community.
Personalized Support - Our experienced lenders will walk you through the process from start to finish.