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Banc of California Small Business Loan Review

Anne Miller

Anne Miller

Senior Author

Anne Miller

Senior Author

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Banc of California Small Business Loan ReviewBanc of California’s Small Business Administration (SBA) lending programs strives to provide expertise in all SBA lending programs. Banc of California presents their specialized proficiency as merger and acquisition transactions for small to medium size enterprises. After reviewing their services, it seems obvious that they prefer to handle business that is going from a small to a medium size business.

Understanding Your Loan Options

It can be a bit of a challenge to sort your way through the different options for small business loans. One of the most important things to do when considering a loan is to look at the different requirements for lenders. There are many different places to look for small business loans, from traditional brick and mortar banks to government programs and even new peer-to-peer lending platforms online. Understanding the different requirements that each lender has will go a long way in helping you pick the small business loan that’s right for you.

Banc of California is a large player, and seems to prefer to do business with customers moving out of the small business category. They do offer in partnership with the SBA loans like the 7(a) program for smaller projects like working capital, equipment or machinery, debt refinancing, real estate, etc. You’ll have to meet all of the conditions for that kind of SBA loan if you want to qualify for it with Banc of California.

Speed of Implementation and Loan Duration

These structured loans obviously take a little longer to process and are no doubt document heavy, which means this program is really difficult for sole proprietors who handle their own books. If your business already has a relationship with Banc of California then this may be misleading: their grasp of your business and paperwork will no doubt allow a smoother process. The fact that the website in no way emphasizes any questions of expediency shows that there is little concern for a “quick” solution to small business problems. This bank is much more interested in people acquiring businesses, either as their first business or as a merger with their existing business. If your score is low then look into how to get a small business loan with bad credit.

Fine Print and Final Thoughts

This is no doubt a fine company to do business with if you meet their high financial standards and you already have a lot of money or assets. The expansion of successful businesses is a particular focus of Banc of California, and they are very encouraging to those businesses. However, if you are looking for a short-term capital fix to a short term problem, this process and the length of time it takes to get through may be prohibitive.

Anne Miller


Anne is a Senior Author for SBL. She began her career as an independent consultant for local businesses after graduating with a BA in Management. Since that time, she’s expanded to writing as well as consulting to spread helpful knowledge to small business owners across the country.

 

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