With more than 33.3 million small businesses across the United States, the banking industry has continued to find ways to support the needs of these entrepreneurs. As your trusted banking partner, we understand that running a small business comes with its own unique set of challenges and opportunities. We are excited to share the news that the Small Business Administration (SBA) has just launched a new program designed specifically to help many business owners thrive. Our bank is here to guide you every step of the way, ensuring you have the support and resources to make the most of this new opportunity.
What is the SBA?
Small Business Administration (SBA) is a government organization that assists borrowers with being able to access funding to purchase businesses through a traditional lender and/or CDC depending on the request. The Government guarantees a certain percentage of the loan, therefore assisting the bank with internal policies for desirable loans. Many small businesses do not have the cash for sizable down payments or their purchases, including intangible assets.
The SBA offers many different loan program options depending on the size, dollar amount, and the needs of the business owner. The new program that has launched specifically targets the needs of businesses with poor working capital. This pilot program is only set to last through the summer of 2025 and is a short term program for qualifying businesses.
Partnering for Your Success
We know that your time is valuable, and that’s why we’ve partnered with the SBA to make the application process for this new program as straightforward as possible. Our team is equipped to help you through every step of the process, from gathering the necessary documentation to submitting your application. We aim to reduce the stress and uncertainty that can come with securing financing, so you can focus on what matters most—running and growing your business. With our expertise and the SBA’s resources, we are confident that we can help you achieve your business ambitions.
At Citizens State Bank, we are more than just a financial institution—we are your partner in success. The new SBA program represents an incredible opportunity for small businesses, and we are here to ensure you have everything you need to take full advantage of it. By working together, we can help your business not only survive, but thrive, in today’s competitive environment. We are proud to support your journey, and look forward to continuing to provide the tools, resources, and personalized service that help your business reach new heights.
Reach out to our team if you have questions about what solution is best for you!
