Citizens Bank

With roots dating back to 1828, Citizens Bank has evolved from a single Rhode Island bank into a major regional financial institution through a series of acquisitions and strategic transformations. Originally founded as High Street Bank, the institution underwent significant expansion beginning in the 1980s, becoming part of the Royal Bank of Scotland Group in 1988, before ultimately returning to independence as a standalone public company in 2015. Throughout this evolution, Citizens has maintained a strong focus on commercial banking, developing particular expertise in middle-market lending and specialized industry financing. The bank's commitment to business lending persisted even during periods when many competitors reduced their commercial exposure, notably during the 2008 financial crisis when Citizens continued to actively lend to businesses in its core markets while many national banks significantly restricted commercial credit. This steady approach to commercial banking through economic cycles has fostered long-term client relationships, with many business customers maintaining banking relationships spanning decades. Citizens' modern business banking strategy emphasizes both geographic expansion beyond its traditional Northeast footprint into Mid-Atlantic and Midwest markets and vertical specialization in industries including healthcare, franchise finance, government banking, technology, and education. What distinguishes Citizens' commercial banking approach from many competitors is its deliberate positioning between the large national banks and smaller community institutions—combining the sophisticated product capabilities and balance sheet strength typically associated with larger banks while maintaining the relationship focus, local decision-making, and market knowledge characteristic of regional institutions. This balanced approach has enabled Citizens to serve commercial clients across the business lifecycle, from small business banking through middle-market commercial lending to specialized corporate finance solutions for larger enterprises.

What sets Citizens Bank apart in the commercial banking sector is its distinctive combination of middle-market expertise, industry specialization, and relationship continuity. Unlike national banks that often segment business clients by revenue size with frequent relationship manager transitions as companies grow, Citizens implements a more consistent relationship model where businesses maintain the same primary banking team even as they access increasingly sophisticated financial solutions. This approach creates continuity that allows relationship managers to develop deep knowledge of clients' businesses over time, resulting in more tailored advice and financing solutions compared to transaction-focused lenders. Additionally, Citizens has developed specialized industry verticals with dedicated bankers who possess sector-specific expertise in areas including healthcare, education, technology, franchise, and government banking—allowing them to understand the unique business models, regulatory considerations, and financial needs within these industries better than generalist commercial bankers. The bank's regional footprint also provides advantages for businesses operating in the Northeast and Midwest, with local market knowledge and decision-making authority that often enables faster credit approvals and more customized financing structures compared to banks with centralized underwriting models. For middle-market businesses seeking sophisticated capabilities delivered through relationship-based service, Citizens represents a compelling alternative to both the largest national banks, which may not provide the same level of personalized attention to mid-sized clients, and smaller community banks, which may lack the product breadth and technical expertise to support more complex financial needs. This combination of relationship continuity, industry knowledge, and regional focus creates a distinct competitive position in commercial banking that resonates particularly with established businesses seeking a long-term financial partner rather than merely a transaction provider.

Citizens Bank offers a comprehensive range of business financing solutions tailored to different company sizes and needs. Their Small Business Banking division serves businesses with under $3 million in annual revenue, offering term loans from $10,000 to $1 million with terms typically ranging from 3-7 years, lines of credit from $10,000 to $500,000, SBA loans including 7(a) and 504 programs up to $5 million, and specialized equipment financing. For Middle Market clients with revenues from $3 million to $500 million, Citizens provides expanded options including term loans up to $25 million, revolving credit facilities up to $35 million, specialized acquisition financing, and comprehensive treasury management solutions. Their Corporate Banking group serves larger enterprises with revenues exceeding $500 million, offering syndicated loans, specialized industry financing, and capital markets services. To qualify for standard business loans, companies typically need at least two years of operating history, minimum annual revenues of $100,000 (though this threshold varies by loan size), and a business credit score in good standing, with the business owner's personal credit score generally requiring a minimum of 650-680 for most products. Citizens' application processes vary by product and client segment: small business loans often feature streamlined digital applications with decisions in 3-5 business days, while middle market and corporate financing involves a more consultative process with relationship managers guiding clients through customized solutions. What distinguishes Citizens' lending approach is their commitment to local decision-making authority, with credit decisions for most middle market loans made by regional credit committees rather than centralized underwriters, allowing for more nuanced evaluation of local market conditions and industry-specific factors. This regional focus extends to their service model, with dedicated relationship managers typically assigned to business clients regardless of size, providing consistent points of contact supported by specialized product experts as needed—creating a more integrated experience compared to banks that separate relationship management from product delivery.