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  Citibank Business Loan

Citibank Business Loan

in Business Loans from Citibank

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Citibank Business Loan

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in Business Loans from Citibank

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Highlights
Loan Amount $5,000 - $3,000,000
APR  (Fixed APR) N/A
Loan Term (Months) Up to 84 months

Citibank Business Loan Review

Citibank business loan is a business financing offering by Citibank, based in New York, NY. Founded in 1812, Citibank offers access to small business loans in 50 states (and Washington, DC).

Citibank business loan FAQ

What are Citibank business loan’s rates?

Citibank business loan offers a fixed APR business financing product but they do not disclose their rates.

Does Citibank business loan charge an origination fee?

Yes, Citibank business loan charges a loan origination fee.

What limitations does Citibank business loan set on the purpose of the business loan?

Citibank business loan considers business loan applications for business purposes, such as:

  • Equipment Purchase
  • Inventory
  • Lease Improvement
  • Product or Service Expansion
  • Technology Investment
  • Working capital

What types of small business loans does Citibank business loan offer?

Not all small business loans are made equal. The type of business loan you choose will determine the range of interest rates and terms you receive. Citibank business loan provides access to the following business loan types:

  • Unsecured Term Business Loans
  • Secured Term Business Loans

Does Citibank business loan charge prepayment fees?

Yes, Citibank business loan charges additional fees to borrowers who pay off their small business loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a business loan early.

How much can you borrow from Citibank business loan?

Business loan amounts start at $5,000 and go up to $3,000,000.

What is the maximum business loan term you can get with Citibank business loan?

Citibank business loan offers small business loans with a maximum term of 84 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What do you need to qualify for Citibank Business Loan?

Citibank Business Loan does not require borrowers to have been in business for a minimum number of years. Businesses don't have to meet a minimum annual revenue to be considered.

Applicants with a credit score of at least 580 and up to 850 may be eligible for Citibank Business Loan. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Citibank Business Loan. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Citibank Business Loan. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Recent bank statements
  • Business formation documents
  • Driver's license
  • Government issued photo ID
  • Proof of identity

Does Citibank Business Loan report your account activity to credit bureaus?

Yes, Citibank Business Loan reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 5:00pm
  • Tuesday 9:00am - 5:00pm
  • Wednesday 9:00am - 5:00pm
  • Thursday 9:00am - 5:00pm
  • Friday 9:00am - 6:00pm
  • Saturday 10:00am - 3:00pm

Other Services by Citibank

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Applicant's Minimum Percentage of Business Ownership 51%
Business Financing Requirements
  • Business Certificate
  • Business License
  • Business Bank Account
Credit Score Range 580 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Verification Documents Required
  • Proof of Identity
  • Business Formation Documents
  • Government Issued Photo ID
  • Recent Bank Statements
  • Social Security Number
  • Driver License (or other photo ID)
  • Business Tax Return
  • Employer Identification Number
Business Loan Type
  • Unsecured Term Loan
  • Secured Term Loan
Collateral Requirement
  • Secured
  • Unsecured
Intended Use of Funds
  • Equipment Purchase
  • Lease Improvements
  • Product or Service Expansion
  • Working Capital
  • Inventory
  • Technology Investment
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Payment Frequency Monthly
Payment Options Automatic Payments
Loan Amount $5,000 - $3,000,000
Loan Term Up to 84 months

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