Business Loans & Financing
When you need the ultimate in flexible financing solutions, turn to Bank of Southern California. Whether you are a manufacturer, distributor, retailer, wholesaler or service organization, we work closely with you to fully understand your business goals and structure a financing solution that puts you on the direct path to achieve them.
- Lines of Credit
- Term Loans
- Express Business Loans and Lines of Credit
- Commercial Real Estate and Construction Loans
- SBA Loans
- Letters of Credit
- Credit Cards
Business Lines of Credit
To give your business access to immediate cash whenever you need it, Bank of Southern California offers revolving lines of credit up to a pre-approved limit customized to your business. Business lines of credit provide the perfect solution for a variety of short-term financing needs, including providing seasonal working capital, purchasing inventory, materials, or equipment, and carrying accounts receivable.
Access as much as you need, at any time, and enjoy peace of mind knowing that you won't pay interest until you draw on the line. Payments typically are interest only.
Business Term Loans
Provide your business with an immediate infusion of funds for one-time expenditures or long-term financing needs with a term loan. Terms loans are perfect for all your more permanent business needs, including equipment purchases, tenant improvements, or business acquisition.
Term loans provide the predictability of regular fixed monthly payments of principal and interest, and you can choose from a variety of loan options.
- Additional features of our term loans include:
- Personal account managers who strive to understand the unique needs of your business
- Competitive interest rates and fees
- Automatic payments from your business checking account
Commercial Real Estate and Construction Loans
Bank of Southern California offers loans to finance new or existing commercial real estate, including multi-family buildings, industrial/warehouse buildings, office buildings, retail buildings, or other real estate. We also offer highly attractive loans for the construction or substantial rehabilitation of commercial and residential properties.
- Choose from a variety of flexible options to fit all your commercial real estate financing needs.
- Competitive interest rates and closing costs
- Up to 75% loan-to value (up to 90% loan-to-value with our SBA option)
- Up to 25-year amortizations (may have shorter maturities)
- No prepayment penalties on variable rate loan programs and construction loans
Express Business Loans and Lines of Credit
At Bank of Southern California, we know your time is valuable. That's why, instead of subjecting your business to a time-consuming process and endless paperwork, we provide Express Business Loans and Lines of Credit that allow you to quickly obtain the financing you need, when you need it. Within, typically, a 48-hour turnaround, your business will have a decision on your loan. Then, within 72 hours, we can usually have that loan booked and ready for you to use.
Express Loans and Lines are perfect for smaller financing needs, up to $100,000, such as equipment purchases, tenant improvements, or working capital needs.
SBA 504 and 7(a) Loans
The Small Business Administration (SBA) has a program of government-guaranteed loans designed to help small businesses get the funds they need more easily and provide more flexible terms than conventional loan options.
In February 2010, President Obama announced several new small business lending initiatives to help increase access to capital and create jobs. These temporary initiatives include a refinancing program for small business owner-occupied commercial real estate and an expanded working capital program, as well as permanent increases in the maximum loan sizes. Following are some of the highlights of these new initiatives:
SBA 7(a) Loans
- Permanent increase in maximum loan size for 7(a) loans from $2 million to $5 million
SBA 504 Loans
- Permanent increase in maximum loan size for 504 loans from $2 million to $5 million for regular projects and from $4 million to $5.5 million for manufacturing
- Commercial real estate refinancing program available for 2011 (must qualify - restrictions apply)
Bank of Southern California is a leading originator of SBA 504 and 7(a) loans. Contact us today for more information on how we can help your business take advantage of these new small business lending initiatives.
|SBA 504 Loans||SBA 7(a) Loans|
|To Qualify||The business must operate as a for-profit company and meet the SBA size standards.||The business must operate as a for-profit company and meet the SBA size standards.|
|Use of Loan Proceeds||The proceeds must be used for fixed asset projects, such as:
The proceeds may be used for any legitimate business purpose, such as:
|Loan Amounts||Maximum 504 debenture of $5.5 million, providing maximum project financing of $10 million||Maximum of $5 million|
Letters of Credit
To help your business secure the purchase of goods and services or for bonding requirements, Bank of Southern California provides Standby Letters of Credit. Our personal account managers will help you structure your transactions to mitigate business issues.
Business Credit Cards
Track and control your business expenses with a Bank of Southern California business credit card. Business credit cards can be a necessity when you have multiple employees making purchases for your business. Keep on top of your expenses with our business credit cards that feature low rates, convenient account access, and the comprehensive support of your personal account manager.