Local banking with a personal touch — that you might pay for with higher interest and fees.

  • Best for a bank loan with a quick turnaround.
  • Pick something else if you don’t live in a state Citizens Bank serves


    Min. Amount


    Max. Amount


    Product Name Citizens Bank business loans
    Min. Amount $20,000
    Max. Amount $150,000
    Loan Term Up to 7 years
    APR As low as 4.75%
    Requirements At least 1 year in business, located in an eligible state, 18+.

    How much will this loan cost me?

    Citizens Bank term loans come with rates starting at 4.75% APR. You can apply for between $20,000 and $150,000 online, though you may be able to qualify for more if you speak to a representative. Terms can run as long as 7 years.

    Use the calculator below to see how much a Citizens Bank term loan might cost your business at the rate, term and loan amount you’re looking for.

    Business loan calculator

    See how much you’ll pay

    Your loan
    Loan amount
    Loan terms (in years)
    Interest rate

    Fill out the form and click on “Calculate” to see your estimated monthly payment.


    Compare business loans now

    How it works

    Generally, the lowest rates and highest loan amounts go to profitable businesses that have been around for several years with relatively few debts. And owners typically need to have an excellent credit score of 760 or higher to get the most competitive deal.

    You’ll also need to apply for a loan with the shortest term to qualify for that 4.75% APR.

    What do I need to qualify?

    Your business must meet the following requirements to qualify for a business loan from Citizens Bank:

    • At least 1 year in business
    • Located in a state where PNC Bank has a branch
    • Over 18

    Other factors like your revenue and other business debts can affect your eligibility.

    Where are Citizens Bank business loans available?

    • Connecticut
    • Delaware
    • Massachusetts
    • Michigan
    • New Hampshire
    • New Jersey
    • New York
    • Ohio
    • Pennsylvania
    • Rhode Island
    • Vermont

    What information do I need to apply?

    Citizens Bank recommends having the following information on hand before you get started on an application:

    • Legal name of your business
    • Business tax ID (EIN)
    • Annual sales
    • Annual net profit

    What industries does Citizens Bank work with?

    Citizens Bank doesn’t disclose which industries can and can’t qualify for a loan. But if your business has struggled to qualify for a loan due to its industry in the past, this lender may not be for you. Banks tend to be more selective than other types of lenders.

    What others types of financing does Citizens Bank offer?

    In addition to unsecured term loans, Citizens Bank offers the following types of products:

    Business lines of credit

    Get access to cash as needed with credit limits from $50,000 up to $1 million — though you can only qualify for up to $150,000 online. In addition to interest, Citizens Bank charges an annual fee of $150 for lines from $50,000 to $100,000. Credit limits from $100,001 to $1 million come with an annual fee of 0.3%.

    Business or equipment flex loans

    This combines a business loan and line of credit for ongoing projects that are difficult to predict. For the business flex loan, your business has six months to draw from a line of credit from $10,000 to $150,000 before it turns into a term loan that you repay with interest.

    For the equipment flex loan, your business has 12 months to draw from a credit limit that ranges from $150,000 to $500,000 before it turns into a term loan.

    SBA loans

    Citizens Bank offers SBA Express, SBA 7(a) and the bank portion of SBA 504 loans. It’s a preferred lender, so it can process your application itself instead of waiting on approval from the SBA. Loan amounts rates and terms vary depending on the program.

    Business mortgages

    Citizens Bank also offers financing to buy, renovate or refinance commercial property. Terms run from 5 to 10 years, with amortizations up to 25 years.

    Pros and cons

    Citizens Bank could be great if you want a quick bank loan. But it’s not a good choice for all borrowers.


    • APR starting at a low 4.75%
    • Online application
    • Fast 2 to 3 day turnaround for a bank


    • Loans start at a high $20,000
    • Poor customer reviews
    • Online applications not available for loans over $150,000

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