10/04/2016
Qualified Veteran-owned businesses offered lower loan rates from Citizens Bank
PROVIDENCE, R.I. – Further demonstrating its longstanding commitment to veterans and their families, Citizens Bank today announced a new offer that enables qualified veteran-owned businesses to benefit from lower loan rates.
Citizens Business Banking will offer an interest rate reduction on both SBA and conventional loans for qualified veteran businesses. To qualify, the business must be 51 percent owned by a veteran or spouse of a veteran and must provide veteran validation documentation and proof of ownership.
“Helping our veterans fund and operate their businesses is one of the many ways that Citizens Bank shows our appreciation for the sacrifice that they have made protecting our nation,” said Kevin Ferryman, Head of SBA Lending, Citizens Bank. “We are proud to offer this promotion to our veterans, and will continue to offer our gratitude to these brave men and women.”
According to the most recent U.S. Small Business Administration data, veterans owned 2.5 million businesses or 9.3 percent of U.S. firms[1].
Citizens Bank has long been a leader in supporting veterans related causes. The bank partnered with the Military Warriors Support Foundation in May of 2016 to donate a new home to Purple Heart recipient and Retired U.S. Army Staff Sergeant John Blizinski. In 2015, the company provided a mortgage-free home to Retired U.S. Army Specialist Joshua Bacon. Citizens Bank actively supports veterans community organizations throughout its footprint, and recruits at military bases and other military support organizations to help hire veterans for open positions.
For more information on the new veterans loan program please call 1-800-4BUSINESS.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. (“Citizens”) is one of the nation’s oldest and largest financial institutions, with $145.2 billion in assets as of June 30, 2016. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. In Consumer Banking, Citizens helps its retail customers “bank better” with mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,200 ATMs and approximately 1,200 Citizens Bank branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Citizens also provides wealth management, mortgage lending, auto lending, student lending and commercial banking services in select markets nationwide. In Commercial Banking, Citizens offers corporate, institutional and not-for-profit clients a full range of wholesale banking products and services including lending and deposits, capital markets, treasury services, foreign exchange and interest hedging, leasing and asset finance, specialty finance and trade finance. Citizens operates through its subsidiaries Citizens Bank, N.A., and Citizens Bank of Pennsylvania as Citizens Bank, Citizens Commercial Banking and Citizens One. Additional information about Citizens and its full line of products and services can be found at www.citizensbank.com.
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Citizens Bank is a brand name of Citizens Bank, N.A. and Citizens Bank of Pennsylvania. Member FDIC. Equal Housing Lender.
[1]U.S. Small Business Association “Frequently Asked Questions.” https://www.sba.gov/sites/default/files/advocacy/SB-FAQ-2016_WEB.pdf
