SmartBiz Bank
SBA 7(a) loans $50K to $350K over 10 years at Prime + 3% to Prime + 4.75% (11.25% median); 680+ credit, 3 yrs, $250K revenue; funds in weeks.
Rates & Cost
What the financing costs, normalized so lenders can be compared.
Repayment Terms
How and how fast you pay it back, and how flexible it is.
Eligibility & Access
Who qualifies and what you have to put on the line.
Speed & Service
How fast you get funded and how the lender treats you.
Company Verification
Who actually stands behind the lender: legal entity, registration, and how long the business and its website have existed. Checked against public registries.
Best for: Businesses with 3+ years of history, $250,000+ in annual revenue and a 680+ credit score that want a 10-year SBA 7(a) loan of $50,000 to $350,000 to refinance debt or add working capital.
Not for: Startups, owners with credit under 680, anyone needing more than $350,000 or real estate financing, or borrowers who need cash in a few days.
Lender List verdict: SmartBiz Bank, the bank behind SmartBiz Loans, is one of the most transparent small-loan SBA lenders: it posts its Prime-based spreads and its fees, and it approved 1,040 SBA 7(a) loans in the 12 months to June 30, 2026. The trade-off is a strict credit box and an 11.25% median starting rate.
SmartBiz Bank at a glance
| SmartBiz Bank | |
|---|---|
| Lender type | FDIC-insured national bank (cert 58158) and online SBA platform |
| Founded | Bank charter 2006 (as Centrust Bank); SmartBiz platform since 2013 |
| HQ | Northbrook, Illinois |
| Parent/owner | SmartBiz Bancshares, Inc. (bank holding company); SmartBiz bought Centrust Bank in March 2025 |
| Products | SBA 7(a) loans, bank term loans, lines of credit |
| Amounts | $50,000 to $350,000 (SBA 7(a), online) |
| Cost (headline) | Prime + 3% to Prime + 4.75%, variable; 11.25% median starting rate |
| Term | 10 years |
| Funding speed | A couple of weeks; 4 to 6 weeks above $150,000 |
| Status | Active; latest SBA approval June 30, 2026 |
What is SmartBiz Bank (SmartBiz Loans)?
SmartBiz Bank is the national bank that SmartBiz Loans became in March 2025, when the online SBA platform closed its purchase of Centrust Bank with approval from the OCC and the Federal Reserve Bank of Chicago. SmartBiz has run its loan platform since 2013 and says it has helped deliver about $9 billion across more than 230,000 small-business loans.
The bank is small, with $200.8 million in assets and one Northbrook, Illinois office per FDIC data at June 30, 2026, but its 7(a) loans reach 50 states and territories, led by California, Florida and Illinois. Centrust Bank still operates as a division of the bank.
How SmartBiz SBA loans work
SmartBiz SBA 7(a) loans run from $50,000 to $350,000 and are repaid monthly over 10 years. You apply online, prequalify with a soft credit pull, and face a hard pull only when the loan reaches closing.
- Uses: working capital, debt refinancing, equipment, expansion, acquisitions
- Speed: most loans fund a couple of weeks after a complete application; over $150,000 usually takes 4 to 6 weeks
- Other products: fixed-rate bank term loans and lines of credit (terms not published)
SmartBiz rates and fees: what it really costs
SmartBiz quotes SBA 7(a) rates as Prime + 4.75% for $50,000 to $150,000 and Prime + 3% for $150,001 to $350,000, which is 11.75% and 10.00% at today's 7.00% Prime. Its rates page also gives a wider range of Prime + 3% to Prime + 5.75%, depending on credit. Both tiers sit under SBA's current caps (Prime + 6.0% for $50,001 to $250,000; Prime + 4.5% for $250,001 to $350,000). Its loans had an 11.25% median starting rate in the 12 months to June 30, 2026.
- SBA guaranty fee: 2% (loans of $150,000 or less) or 3% (over $150,000) of the guaranteed share for FY2027 loans; SmartBiz's site still shows 1.7% to 2.25%
- Packaging fee: $2,500, one time
- Closing costs: about $600
- Prepayment penalty: none on working capital or debt-refinance loans
Worked example: a $350,000, 10-year loan at the 11.25% median rate costs $4,870.91 a month, or $584,509.58 over 120 payments, including $234,509.58 of interest. Fees of $10,975 ($7,875 guaranty at 3% of the 75% guaranteed share, plus $2,500 and $600) come out of proceeds, which puts the APR at about 12.04%. At today's quoted Prime + 3% (10.00%), the payment drops to $4,625.28 and the APR to about 10.77%.
SmartBiz Bank's SBA programs
SmartBiz Bank makes only SBA 7(a) loans online; it does not advertise SBA 504 or SBA Express. All of its 1,244 7(a) approvals since FY2020 were standard 7(a) loans, and 99.9% carry variable rates.
| SBA 7(a) data | SmartBiz Bank |
|---|---|
| Last 12 months (to June 30, 2026) | 1,040 loans, $204.1 million |
| FY2025 / FY2026 to date | 334 loans / 806 loans |
| Median loan | $150,000 |
| Median term | 120 months |
| Charge-offs since FY2020 | 0 |
The site calls the bank an SBA Preferred Lender. The SBA recognized SmartBiz Bank for small-business lending in South Florida, and its Centrust division as a top lender in Wisconsin, in 2026.
SmartBiz Bank requirements
SmartBiz Bank requires a 680+ personal credit score, 3 years in business and $250,000 in annual revenue.
| Requirement | SmartBiz Bank minimum |
|---|---|
| Personal credit score | 680 |
| Business credit (FICO SBSS) | 170 |
| Time in business | 3 years |
| Annual revenue | $250,000 |
| Cash flow | 1.1x debt service coverage |
| Credit check | Soft to prequalify; hard at closing |
| Collateral / guarantee | Blanket lien on business assets; personal guarantee |
Borrowers must meet SBA size standards, owners of 20%+ guarantee personally, and changes of ownership need a 10%+ equity injection. Owners must be U.S. citizens or nationals, with no bankruptcy or foreclosure in 3 years and no open tax liens. Cannabis, gambling, pawn and vape shops, and real estate developers are ineligible.
Pros and cons
SmartBiz Bank's biggest strengths are posted pricing and a soft-pull prequalification; its biggest limits are the $350,000 cap and a strict credit box.
Pros
- Publishes its rate spreads and every fee, which few SBA lenders do
- Soft pull to prequalify; hard pull only at closing
- No prepayment penalty on working capital and refinance loans
- Funds in weeks, not the 30 to 90 days common for 7(a)
- 0 charge-offs on 1,244 SBA loans since FY2020 (most are under two years old)
Cons
- Online loans cap at $350,000; no SBA real estate or 504 program
- Strict box: 680 credit, 3 years, $250,000 revenue
- $2,500 packaging fee on top of SBA fees
- No startups
SmartBiz vs. Busey Bank vs. iBusiness Funding
SmartBiz Bank is easier to price than Busey Bank or iBusiness Funding because it posts its spreads, but it lends less (up to $350,000 vs. up to $5,000,000).
| SmartBiz Bank | Busey Bank | iBusiness Funding | |
|---|---|---|---|
| Max amount | $350,000 | Not published ($5M SBA program max) | $5,000,000 |
| Pricing | Prime + 3% to Prime + 4.75% | Not published (9.01% FY2026 average) | As low as Prime + 2.75% |
| Min FICO | 680 | Not published | 640 |
| Min time in business | 3 years | Not published | 2 years (over $350K) |
| Min annual revenue | $250,000 | Not published | Not published |
| Repayment | Monthly, 10 years | Up to 25 years | 10 to 25 years |
| Early payoff | No penalty | SBA rule | SBA rule |
Choose SmartBiz if you want posted pricing on a loan under $350,000. Choose Busey Bank if you are in Illinois and need real estate or a larger loan. Choose iBusiness Funding if your credit is 640 to 679 or you need up to $5 million.
SmartBiz Bank alternatives on Lender List
SmartBiz Bank's closest alternatives here are Busey Bank, iBusiness Funding and Lendio.
- Busey Bank — Illinois SBA Preferred Lender with longer real estate terms
- iBusiness Funding — online SBA platform up to $5 million with a lower credit floor
- Lendio — marketplace that compares SBA and other offers from many lenders
- Browse all SBA 7(a) loans on Lender List
Frequently asked questions about SmartBiz Bank
Is SmartBiz Loans Legit? Yes. SmartBiz Loans is now SmartBiz Bank, N.A., an FDIC-insured national bank (cert 58158) whose charter dates to 2006. It approved 1,040 SBA 7(a) loans in the year to June 30, 2026, with no charge-offs since FY2020 (most loans are under two years old).
What Do SmartBiz Loans Reviews Say? Mostly positive: Trustpilot rates SmartBiz Bank 4.5 out of 5 from 16,370 reviews on a profile the bank has claimed. The widget on the bank's own site shows 4.7, a slightly higher figure than Trustpilot's page. SmartBiz has run that claimed profile on a paid Trustpilot plan since June 2025.
How Long Does SmartBiz Take to Close an SBA Loan? Usually a couple of weeks after your application is complete, and 4 to 6 weeks for loans over $150,000. SmartBiz says funds can arrive in as few as 7 business days after approval, though outside delays can stretch that timeline.
What Are the Fees on a SmartBiz Loan? Expect a $2,500 packaging fee, about $600 in closing costs and an SBA guaranty fee of 2% (loans of $150,000 or less) or 3% (over $150,000) of the guaranteed share for FY2027 loans; SmartBiz's site still shows 1.7% to 2.25%. There is no prepayment penalty on working capital or refinance loans.
Does SmartBiz Lend to Startups? No. SmartBiz requires 3 years in business with matching tax returns, plus $250,000 in annual revenue and a 680+ credit score. Newer businesses should look at SBA lenders that finance startups, which under SBA rules must put in at least a 10% equity injection.
What Banks Does SmartBiz Use? SmartBiz Bank, N.A., formerly Centrust Bank, lends directly, and Centrust still operates as a division. Some loans go through other banks and non-bank lenders in the SmartBiz network, whose fees can differ from the bank's, so check which lender appears on your offer.
Last verified 2026-10-27. Pricing and terms are provider-stated or third-party-reported and vary by offer; confirm with the lender before applying.
Best for: Businesses with 3+ years of history, $250,000+ in annual revenue and a 680+ credit score that want a 10-year SBA 7(a) loan of $50,000 to $350,000 to refinance debt or add working capital.
Not for: Startups, owners with credit under 680, anyone needing more than $350,000 or real estate financing, or borrowers who need cash in a few days.
Lender List verdict: SmartBiz Bank, the bank behind SmartBiz Loans, is one of the most transparent small-loan SBA lenders: it posts its Prime-based spreads and its fees, and it approved 1,040 SBA 7(a) loans in the 12 months to June 30, 2026. The trade-off is a strict credit box and an 11.25% median starting rate.
SmartBiz Bank at a glance
| SmartBiz Bank | |
|---|---|
| Lender type | FDIC-insured national bank (cert 58158) and online SBA platform |
| Founded | Bank charter 2006 (as Centrust Bank); SmartBiz platform since 2013 |
| HQ | Northbrook, Illinois |
| Parent/owner | SmartBiz Bancshares, Inc. (bank holding company); SmartBiz bought Centrust Bank in March 2025 |
| Products | SBA 7(a) loans, bank term loans, lines of credit |
| Amounts | $50,000 to $350,000 (SBA 7(a), online) |
| Cost (headline) | Prime + 3% to Prime + 4.75%, variable; 11.25% median starting rate |
| Term | 10 years |
| Funding speed | A couple of weeks; 4 to 6 weeks above $150,000 |
| Status | Active; latest SBA approval June 30, 2026 |
What is SmartBiz Bank (SmartBiz Loans)?
SmartBiz Bank is the national bank that SmartBiz Loans became in March 2025, when the online SBA platform closed its purchase of Centrust Bank with approval from the OCC and the Federal Reserve Bank of Chicago. SmartBiz has run its loan platform since 2013 and says it has helped deliver about $9 billion across more than 230,000 small-business loans.
The bank is small, with $200.8 million in assets and one Northbrook, Illinois office per FDIC data at June 30, 2026, but its 7(a) loans reach 50 states and territories, led by California, Florida and Illinois. Centrust Bank still operates as a division of the bank.
How SmartBiz SBA loans work
SmartBiz SBA 7(a) loans run from $50,000 to $350,000 and are repaid monthly over 10 years. You apply online, prequalify with a soft credit pull, and face a hard pull only when the loan reaches closing.
- Uses: working capital, debt refinancing, equipment, expansion, acquisitions
- Speed: most loans fund a couple of weeks after a complete application; over $150,000 usually takes 4 to 6 weeks
- Other products: fixed-rate bank term loans and lines of credit (terms not published)
SmartBiz rates and fees: what it really costs
SmartBiz quotes SBA 7(a) rates as Prime + 4.75% for $50,000 to $150,000 and Prime + 3% for $150,001 to $350,000, which is 11.75% and 10.00% at today's 7.00% Prime. Its rates page also gives a wider range of Prime + 3% to Prime + 5.75%, depending on credit. Both tiers sit under SBA's current caps (Prime + 6.0% for $50,001 to $250,000; Prime + 4.5% for $250,001 to $350,000). Its loans had an 11.25% median starting rate in the 12 months to June 30, 2026.
- SBA guaranty fee: 2% (loans of $150,000 or less) or 3% (over $150,000) of the guaranteed share for FY2027 loans; SmartBiz's site still shows 1.7% to 2.25%
- Packaging fee: $2,500, one time
- Closing costs: about $600
- Prepayment penalty: none on working capital or debt-refinance loans
Worked example: a $350,000, 10-year loan at the 11.25% median rate costs $4,870.91 a month, or $584,509.58 over 120 payments, including $234,509.58 of interest. Fees of $10,975 ($7,875 guaranty at 3% of the 75% guaranteed share, plus $2,500 and $600) come out of proceeds, which puts the APR at about 12.04%. At today's quoted Prime + 3% (10.00%), the payment drops to $4,625.28 and the APR to about 10.77%.
SmartBiz Bank's SBA programs
SmartBiz Bank makes only SBA 7(a) loans online; it does not advertise SBA 504 or SBA Express. All of its 1,244 7(a) approvals since FY2020 were standard 7(a) loans, and 99.9% carry variable rates.
| SBA 7(a) data | SmartBiz Bank |
|---|---|
| Last 12 months (to June 30, 2026) | 1,040 loans, $204.1 million |
| FY2025 / FY2026 to date | 334 loans / 806 loans |
| Median loan | $150,000 |
| Median term | 120 months |
| Charge-offs since FY2020 | 0 |
The site calls the bank an SBA Preferred Lender. The SBA recognized SmartBiz Bank for small-business lending in South Florida, and its Centrust division as a top lender in Wisconsin, in 2026.
SmartBiz Bank requirements
SmartBiz Bank requires a 680+ personal credit score, 3 years in business and $250,000 in annual revenue.
| Requirement | SmartBiz Bank minimum |
|---|---|
| Personal credit score | 680 |
| Business credit (FICO SBSS) | 170 |
| Time in business | 3 years |
| Annual revenue | $250,000 |
| Cash flow | 1.1x debt service coverage |
| Credit check | Soft to prequalify; hard at closing |
| Collateral / guarantee | Blanket lien on business assets; personal guarantee |
Borrowers must meet SBA size standards, owners of 20%+ guarantee personally, and changes of ownership need a 10%+ equity injection. Owners must be U.S. citizens or nationals, with no bankruptcy or foreclosure in 3 years and no open tax liens. Cannabis, gambling, pawn and vape shops, and real estate developers are ineligible.
Pros and cons
SmartBiz Bank's biggest strengths are posted pricing and a soft-pull prequalification; its biggest limits are the $350,000 cap and a strict credit box.
Pros
- Publishes its rate spreads and every fee, which few SBA lenders do
- Soft pull to prequalify; hard pull only at closing
- No prepayment penalty on working capital and refinance loans
- Funds in weeks, not the 30 to 90 days common for 7(a)
- 0 charge-offs on 1,244 SBA loans since FY2020 (most are under two years old)
Cons
- Online loans cap at $350,000; no SBA real estate or 504 program
- Strict box: 680 credit, 3 years, $250,000 revenue
- $2,500 packaging fee on top of SBA fees
- No startups
SmartBiz vs. Busey Bank vs. iBusiness Funding
SmartBiz Bank is easier to price than Busey Bank or iBusiness Funding because it posts its spreads, but it lends less (up to $350,000 vs. up to $5,000,000).
| SmartBiz Bank | Busey Bank | iBusiness Funding | |
|---|---|---|---|
| Max amount | $350,000 | Not published ($5M SBA program max) | $5,000,000 |
| Pricing | Prime + 3% to Prime + 4.75% | Not published (9.01% FY2026 average) | As low as Prime + 2.75% |
| Min FICO | 680 | Not published | 640 |
| Min time in business | 3 years | Not published | 2 years (over $350K) |
| Min annual revenue | $250,000 | Not published | Not published |
| Repayment | Monthly, 10 years | Up to 25 years | 10 to 25 years |
| Early payoff | No penalty | SBA rule | SBA rule |
Choose SmartBiz if you want posted pricing on a loan under $350,000. Choose Busey Bank if you are in Illinois and need real estate or a larger loan. Choose iBusiness Funding if your credit is 640 to 679 or you need up to $5 million.
SmartBiz Bank alternatives on Lender List
SmartBiz Bank's closest alternatives here are Busey Bank, iBusiness Funding and Lendio.
- Busey Bank — Illinois SBA Preferred Lender with longer real estate terms
- iBusiness Funding — online SBA platform up to $5 million with a lower credit floor
- Lendio — marketplace that compares SBA and other offers from many lenders
- Browse all SBA 7(a) loans on Lender List
Frequently asked questions about SmartBiz Bank
Is SmartBiz Loans Legit? Yes. SmartBiz Loans is now SmartBiz Bank, N.A., an FDIC-insured national bank (cert 58158) whose charter dates to 2006. It approved 1,040 SBA 7(a) loans in the year to June 30, 2026, with no charge-offs since FY2020 (most loans are under two years old).
What Do SmartBiz Loans Reviews Say? Mostly positive: Trustpilot rates SmartBiz Bank 4.5 out of 5 from 16,370 reviews on a profile the bank has claimed. The widget on the bank's own site shows 4.7, a slightly higher figure than Trustpilot's page. SmartBiz has run that claimed profile on a paid Trustpilot plan since June 2025.
How Long Does SmartBiz Take to Close an SBA Loan? Usually a couple of weeks after your application is complete, and 4 to 6 weeks for loans over $150,000. SmartBiz says funds can arrive in as few as 7 business days after approval, though outside delays can stretch that timeline.
What Are the Fees on a SmartBiz Loan? Expect a $2,500 packaging fee, about $600 in closing costs and an SBA guaranty fee of 2% (loans of $150,000 or less) or 3% (over $150,000) of the guaranteed share for FY2027 loans; SmartBiz's site still shows 1.7% to 2.25%. There is no prepayment penalty on working capital or refinance loans.
Does SmartBiz Lend to Startups? No. SmartBiz requires 3 years in business with matching tax returns, plus $250,000 in annual revenue and a 680+ credit score. Newer businesses should look at SBA lenders that finance startups, which under SBA rules must put in at least a 10% equity injection.
What Banks Does SmartBiz Use? SmartBiz Bank, N.A., formerly Centrust Bank, lends directly, and Centrust still operates as a division. Some loans go through other banks and non-bank lenders in the SmartBiz network, whose fees can differ from the bank's, so check which lender appears on your offer.
Last verified 2026-10-27. Pricing and terms are provider-stated or third-party-reported and vary by offer; confirm with the lender before applying.
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