Centrust Bank

Meet Tim, a longtime commercial banking professional at Centrust Bank with more than 40 years of experience who has also spent most of his adult life riding motorcycles. 🏍️

Tim has been with Centrust Bank for almost 3 years, bringing decades of Chicagoland market experience to his work with business owners.

For Tim, knowing the local market is about more than understanding industries and neighborhoods. It’s also about building connections. Over the years, he’s helped connect business owners with other local businesses that may provide services, products, and valuable knowledge.

One of the most rewarding parts of SBA financing for Tim is helping business owners explore funding opportunities that may not otherwise be available to them. He also knows the process may feel complex, which is why having an experienced SBA lending team to help navigate each step may make a meaningful difference.

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When working with a local lender, a few common missteps may make the process more difficult than it needs to be, including waiting until financing is urgent, not knowing your numbers, or holding back important context about your business.

A better approach? Communicate early, understand your financial picture, and treat your lender as a resource throughout the process.

Our latest blog breaks down 6 common errors to avoid when working with a local lender: https://hubs.ly/Q04y4mx00

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Avoid Mistakes With Your Local Lender | Centrust Bank® Learn the common mistakes small-business owners make with local lenders and how better preparation, communication, and financial habits may improve results.

The personal service of a community bank now comes with even more flexibility.

With Centrust Bank, you may open a Certificate of Deposit online, giving you a convenient way to put your savings to work while banking with a local team that understands the community it serves.

Choose the CD term that fits your goals and manage the first step from wherever it’s most convenient for you.

Explore options: https://hubs.ly/Q04xsqLb0

Financial statements, tax returns, and credit history all play an important role in a lending decision. But local lenders may also bring a deeper understanding of the business, the market it serves, and the story behind the numbers.

That local perspective may help provide valuable context around your business goals, challenges, and opportunities.

At Centrust Bank, we believe relationships and local knowledge matter when helping businesses explore their financing options.

Read more: https://hubs.ly/Q04wz9fM0

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Why Local Lenders Look Beyond the Paperwork | Centrust Bank Learn how local lenders evaluate small businesses beyond financial statements, including relationships, community knowledge, reputation, and business goals.

Meet Josh Anderson, Commercial Loan Officer at Centrust Bank. He may be 26, but according to Spotify Wrapped, his “listening age” is 66. 🎶

Josh has been with Centrust Bank for a little over four years, working with business owners and investors to understand their goals and explore financing solutions.

Much of his work involves commercial real estate, where each deal helps deepen his understanding of the Chicagoland market.

His advice to business owners considering financing? Start the conversation sooner rather than later. You don’t need to have everything figured out before speaking with a banker.

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Looking for a simple way to make more of the money you’ve set aside?

A Centrust Bank Certificate of Deposit offers a fixed interest rate for the term you choose, giving you a predictable way to grow your savings over time.

And with the convenience of opening your CD online, getting started is easier than ever.

Explore available CD terms: https://hubs.ly/Q04xsqmf0

Applying for an SBA loan involves more than completing an application. Lenders may also review your financial records, credit history, cash flow, and how you plan to use the funds.

Some common issues that may lead to delays or affect a lending decision include:

• Incomplete documentation
• Inconsistent financial information
• Outdated tax returns
• Insufficient cash flow
• Unresolved credit concerns
• Unclear plans for how loan proceeds will be used

Preparing your records in advance and working closely with an experienced SBA lender may help reduce avoidable delays and make the process easier to navigate.

A Centrust Bank Certificate of Deposit offers a fixed rate for the term you choose, making it easier to know what to expect from your savings.

Now you may open a Centrust Bank CD online, bringing the convenience of digital banking together with the personal service of a community bank.

Explore available CD terms and find an option that fits your savings goals: https://hubs.ly/Q04vyLlf0

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When it comes to business financing, the amount you borrow is only part of the equation. The loan terms matter, too.

For eligible businesses, SBA financing may offer longer repayment terms and competitive rates that may help spread the cost of investments like equipment, expansion, hiring, or working capital over time, potentially providing more flexibility for day-to-day cash flow.

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Meet Tom Meyer, EVP, Community SBA Lending at Centrust Bank and a longtime U.S. stamp collector. 📬

Tom has been with Centrust Bank for nearly 12 years and has almost 30 years of experience in SBA and small business lending.

What he enjoys most is seeing the entrepreneurial spirit of business owners and helping support their next chapter.

His advice for anyone considering SBA financing? Lean on the experts from the very beginning. An experienced SBA lender may help you understand the process, answer your questions, and know what to expect as you explore your financing options.

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