Central Bank
Central Bank is an active SBA lender in Utah, a bank offering SBA-guaranteed small-business loans. Currently rated 4.9 stars across 243 Google reviews.
About Central Bank
Central Bank offers comprehensive SBA lending solutions tailored to small businesses seeking financial support for growth, expansion, or operational needs. With a focus on the local Provo community, this bank provides personalized service and flexible financing options to help entrepreneurs succeed. Their SBA programs include the popular 7(a) loan program, which is ideal for various business purposes such as working capital, equipment purchase, or real estate acquisition. They are known for their quick approval process and competitive rates, making them a preferred partner for small business owners in the region. The bank's experienced lending team works closely with clients to understand their unique needs and craft suitable loan packages. Whether you're a startup or an established business, Central Bank aims to facilitate your growth with tailored financial solutions and expert guidance.
Industries Central Bank finances
Business types Central Bank actively lends to, from its SBA loan history. Tap one to see every lender serving it.
Common questions about Central Bank
What is this place and what can I find here?
This is a bank offering SBA loan programs and financial services tailored to small businesses, including the popular 7(a) loan program, with personalized support and competitive rates.
Do I need an appointment or can I walk in?
It's recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-ins are also welcome during business hours.
What are the hours of operation?
Central Bank's Provo Downtown location is open Monday–Thursday 9:00 AM to 5:00 PM and Friday 9:00 AM to 6:00 PM. The drive-up window operates Monday–Friday 8:00 AM to 6:00 PM. For appointments outside these hours, contact the bank at (801) 655-2205.
Is there a fee to use this?
There are no fees for initial consultations; loan fees and interest rates vary based on the specific financing arrangement.
Who is this open to — anyone, or only residents/members?
This bank primarily serves small business owners and entrepreneurs within the region, but eligibility depends on meeting loan criteria.
What minimum personal credit score does this bank look for in a guarantor?
A minimum personal credit score of 640 is typically required, though higher scores improve approval chances.
How long does the traditional underwriting process take from start to close?
The underwriting process generally takes between 2 to 4 weeks, depending on the complexity of the loan and completeness of application materials.
Is this open on weekends?
Central Bank's Provo Downtown office is closed weekends, though the drive-up window is open Saturday 9:00 AM to 1:00 PM. SBA lending staff are reachable during standard business hours; contact the SBA department at (801) 655-2152 for availability.
How do I get there and where do I park?
Central Bank is located in Utah — see the contact card for the full address. Most bank locations offer free on-site or nearby street parking for visitors. For exact directions, the entrance, and accessible parking, use the listed address or call ahead and staff can point you to visitor spaces.
Who owns or operates this listing?
This page is an independent directory listing for Central Bank, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Central Bank itself, which runs its own lending under its own ownership. If you work at Central Bank, you can claim this listing from this page to manage it.
How current is the information on this page?
The core details for Central Bank — name, location, contact, and lender type — are compiled from public records and reviewed periodically. Rates, programs, credit policies, and hours change often and are not guaranteed here, so always confirm the latest terms directly with Central Bank before applying. If you represent Central Bank, claim this listing to keep its information up to date.
How do I contact this listing directly?
You can reach Central Bank by phone at (801) 655-2205 or online at cbutah.com — the details are in the contact card on this page. For SBA loans specifically, ask for their business lending or SBA department. Treat this directory page as a starting point and confirm hours and contact details with Central Bank before relying on them.
What core industries does this commercial bank traditionally choose to finance?
Based on its approved SBA loans, Central Bank most often finances businesses in construction & contractors, manufacturing, medical practices & clinics, restaurants & food service, general retail, and automotive repair & services. This reflects Central Bank's real SBA 7(a) and 504 lending history rather than a stated policy — it can still consider other industries and sets its own current preferences, so confirm with Central Bank which sectors it actively lends to before you apply.
Can I apply for an SBA Express line of credit at this branch?
Central Bank offers SBA Express Loans with simplified application and accelerated turnaround. For eligibility and terms, contact their SBA team at (801) 655-2152 or reach out to an SBA officer to confirm availability for your business.
Does this bank have Preferred Lender Provider status with the government?
Central Bank holds SBA Preferred Lender status, allowing in-house SBA loan approval without SBA review of each application, typically enabling faster decisions. Contact the bank to confirm current PLP authority for your loan type.
Are start-up companies eligible for financing at this traditional institution?
The SBA does fund start-ups, but many traditional lenders prefer at least two years of operating history and may ask newer ventures for a larger equity injection or stronger collateral. Central Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Central Bank directly whether it considers start-up loans.
What are the typical down payment expectations for commercial real estate acquisitions?
For SBA 7(a) and 504 commercial real estate loans, borrowers typically contribute around 10% to 20% as a down payment or equity injection, depending on the property and the deal. Exact requirements vary with your credit, the business, and the lender's policy. Ask Central Bank what down payment it expects for your specific commercial real estate purchase.
Does this bank impose prepayment penalties on short-term working capital facilities?
SBA 7(a) loans with terms under 15 years generally carry no prepayment penalty, while longer real estate loans can have one in the early years. Short-term working capital lines often have no penalty, but terms vary by lender. Review your loan agreement and ask Central Bank to spell out any prepayment penalties before you sign.
Can I use loan proceeds from this bank to buy out an existing equity partner?
SBA loans can be used for a partner or owner buyout, including buying out an existing equity partner, when the deal is structured to meet SBA rules — for example, the remaining owner generally must stay actively involved. Approval depends on the specifics, so discuss your buyout plan with Central Bank to confirm it qualifies and how to document it.
Will historical personal bankruptcies automatically disqualify my loan application here?
A past personal bankruptcy does not automatically disqualify you from an SBA loan. Lenders look at how long ago it was discharged, the circumstances, and how your credit has recovered since. Central Bank weighs this case by case under its own policy, so be upfront about your history and ask Central Bank how it evaluates prior bankruptcies.
