Community Bank N.A. loans review
This local lender's online banking and app make it easier to stay local and in the 21st century.
With over 240 branches and higher-tech options than most community banks offer, Community Bank N.A. could be great for business owners who want to transition away from a big bank.
Business and personal loans and lines of credit, SBA loans, commercial mortgages.
Types of loans available
New York, Northern Pennsylvania, Western Massachusetts and Vermont
|Types of loans available||Business and personal loans and lines of credit, SBA loans, commercial mortgages.|
|Area serviced||New York, Northern Pennsylvania, Western Massachusetts and Vermont|
|Number of branches||Over 240|
|Branch hours||Varies by branch, usually 9 a.m. to 4 or 5 p.m. on weekdays.|
|Customer service hours||8 a.m. to 6 p.m. on weekdays|
|Customer service options||Phone, form email|
Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 950 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.
Community Bank N.A. could be a great option if you’re thinking of switching to a local bank. It has a relatively high number of branches for a local lender. And its mobile app and online banking accounts make it easier to manage your accounts without leaving home. You can even apply for a personal loan online. But if you need to visit a branch, you’ll need to make time during normal business hours.
What is Community Bank N.A.?
Community Bank N.A., or CBNA, is a large local bank with over 240 branches across New York, Vermont, Western Massachusetts and Northern Pennsylvania. It's relatively high-tech for a bank. You can apply for personal loans online and manage your accounts using its app. But you'll need to set up an appointment to learn about your options for business financing.
What types of loans does Community Bank N.A. offer?
CBNA offers your standard personal and business financing options.
- Short-term businesses loans and lines of credit. Cashflow financing for short-term expenses like waiting for an invoice to come in or purchasing inventory.
- Long-term business loans. Financing for equipment, expanding your business and other large expenses.
- SBA loans. CBNA offers loans through this program backed by the Small Business Administration, or SBA, — though it doesn't specify what types of SBA loans are available.
- Commercial mortgages. Financing for business-related real estate purchases and construction.
- Personal loans. Unsecured financing for personal projects like home renovations or debt consolidation.
- Personal lines of credit. Choose from a small line to protect your account from overdraft fees to the more substantial Advantage line to give you access to credit limits ranging from $5,000 to $25,000.
- Home loans. CBNA offers a variety of home equity and mortgage programs for new and experienced home and landowners.
What industries does CBNA specialize in?
CBNA has special programs for agricultural businesses and car dealerships. It also offers banking and lending products to municipal organizations — such as local governments and public schools. CBNA has additional tracts for small businesses and larger commercial enterprises, if your business doesn't fall into these industries.
How does borrowing work with Community Bank N.A.?
That depends on the type of loan you want. For business loans and most other types of financing, you have to set up an appointment to speak with a commercial loan officer. The application for a business loan typically take a few weeks to process at most community banks.
But you can apply for a personal loan online or in person at a branch — either way you do it, the applications are the same. Usually customers get a response the same day.
How do I get started?
You can get started on a business loan application by setting up an appointment with a loan officer at your local community bank. Follow these steps to find out who to contact.
- Go to the CBNA website.
- Click Find your location in the top navigation bar.
- Write your address, city and state or ZIP code and state and hit Go.
- Hit see more locations and details under the branch you'd like to visit.
- Review the hours and branch features before calling the branch phone number to set up an appointment.
- Over 240 branches
- Mobile app
- Offers SBA loans
- Online personal loan application
- Customer service limited to inperson, phone or online form
- Most branches only open during business hours
- More complaints than online reviews
See other business loan options
While you might not get local service, you can compare more options by checking out these lenders.
Community Bank N.A. reviews and complaints
|BBB customer reviews||1 out of 5 stars, based on 3 customer reviews|
|BBB customer complaints||22 customer complaints|
|Yelp||3 out of 5 stars, based on 4 customer reviews|
|Glassdoor||3.5 out of 5 stars, based on 56 customer reviews|
|Customer reviews verified as of||04 November 2020|
Community Bank N.A. doesn't get many online reviews, but it has a handful of complaints filed with the Better Business Bureau, or BBB. Most are from banking customers who suddenly had their accounts closed or were charged fees according to terms they hadn't agreed to. Generally, these incidents happened after customers hit a financial rough patch.
A couple positive reviews were from customers who were happy with the customer service they received.
What do employees say?
Employees give mostly positive customer reviews. Many say it's a great place to work. Some complain about the lack of new technology, though CBNA is relatively high-tech compared to other local financial institutions.
This is a good sign if you're looking for a long-term source of financing for a business. Happy employees usually means there's less turnaround. Your chances of finding a loan officer who can spend years getting to know your business are good.
What other products does Community Bank N.A. offer?
In addition to financing, you might want to take advantage of the following products for yourself and your small business.
- Checking accounts
- Savings accounts
- Credit cards
- Business cash management services
- Merchant processing services
- Insurance services
- Wealth planning
CBNA was first founded as St. Lawrence County National bank in 1866. Over the more than 150 years since its founding, it's expanded to most of New York state — excluding New York City — and Vermont, as well as parts of Pennsylvania and Massachusetts.
It also gives back to the communities it serves, offering more than $2.6 million in donations, grants and scholarships in 2019 to over 2,500 causes. It's landed on Forbes' Top 12 list for 12 years.
CBNA could be a good option for a local business owner looking for the community bank experience without sacrificing the convenience of local branches and online banking. Compare CBNA to other options by visiting our guide to the best business loans.