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Since Center Bank first offered SBA loans in 1989, we have been active in providing small business loans throughout Southern California.
As a member of Preferred Lender Program, PLP, we can obtain SBA guaranty approval in two working
days. The department provides and specializes in all SBA loan programs,
including SBA 7(a), CDC 504, and Express Loans. Our experienced SBA
department staff assists our customers by tailoring loans to their specific
needs. The SBA department is committed to providing superior service and in
helping our customers succeed!
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| 7a Loan |
An
SBA loan provides financing for various purposes for small businesses under
guarantee of the Small Business Administration (SBA), a federal agency created
to provide financial assistance for small businesses. Center Bank is a Preferred
SBA Lender having full loan approval authority on behalf of the SBA.
- An SBA loan provides the longest terms available to repay the loan for the borrower
- As a PLP lender, we can provide a faster loan processing time compared to non-PLP lenders
- Requires lower down payment for the purchase of real estate, business and equipment
An
SBA loan provides financing for various purposes for small businesses as
follows:
- Purchase, construction, renovation or refinance of commercial real estate
for business purposes
- Purchase of land for purpose of construction
- Purchase of equipment
- Business acquisition and expansion
- Working capital and inventory financing
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| CDC 504 Loan |
The 504 Certified Development Company (CDC) Program provides long-term, fixed rate
financing. CDCs work with the SBA and Center Bank to provide financing to small
businesses
- SBA loan financing is as follows: 10% Equity from the small business, 50% Center Bank, 40% Certified Development Company
- Financing for major fixed assets, such as land and building, machinery and equipment
- Requires lower down payment for the purchase of major fixed assets
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| LowDoc Loan |
The LowDoc Loan Program further streamlines the making of small business loans with
less paperwork and a fast approval turnaround
- The
maximum loan is $150,000
- One-page application form
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| Express Loan |
The Express Loan Program provides a term loan or revolving line of credit for the
small business owner. Loan funds can be used for any business-related purpose.
- The
maximum loan is $150,000
- Offers a business revolving line of credit
- Allows lenders to use their own forms and processes to approve loans
guaranteed by the SBA, whereby providing minimal paperwork to the SBA
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Contact your nearest Center Bank branch for futher information
or call (213)-381-2222. |
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