First California Bank Appoints New SVP to Administer Small Business Banking
The United States Small Business Administration (SBA) is offering several loan programs designed to assist small business owners and entrepreneurs who are just starting with new ventures.
One is the 7(a) Loan Program which includes financial aid for businesses with special requirements such as exports to foreign countries and enterprises that operate in rural areas.
The Microloan Program is a specific credit provides small and short-term loans for small business concerns and certain types of not-for-profit child-care centers The SBA makes funds available to specially designated intermediary lenders, which are nonprofit community-based organizations with experience in lending as well as management and technical assistance. These intermediaries make loans to eligible borrowers.
On the other hand, the CDC/504 loan program is a long-term financing tool which encourages economic development within a community. The 504 Program accomplishes this by providing small businesses with long-term fixed-rate financing to acquire major fixed assets for expansion or modernization.
The First California Bank, a wholly-owned subsidiary of First California Financial Group has appointed a new Senior Vice President/SBA Group Manager, a newly created position responsible for overseeing all SBA lending activities for the bank. Gonzalo Fernandez will be the person responsible for this task.
“Our SBA program provides an opportunity for First California to bring much needed financial backing to small and minority owned businesses throughout our geographic footprint.” – Gilbert Dalmau First California Bank Executive Vice President and Chief Banking Officer
“Fernandez is an experienced banker with a strong track record of developing and growing lending programs, including SBA, throughout Southern and Central California.”
U.S. Small Business Administration (SBA) loan programs are designed to expand access to lower dollar loans and lending in traditionally underserved communities. SBA loans provide flexible terms and conditions, as well as a streamlined application process.
“I am thrilled to be with this organization and be able to further expand and diversify our commercial customer base, while making such a big difference in the communities we serve,” stated Fernandez.
