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Pacific Premier Bank Small Business Loan Review

Anne Miller

Anne Miller

Senior Author

Anne Miller

Senior Author

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Pacific Premier Bank Small Business Loan ReviewPacific Premier Bank is distinguished as an “SBA Preferred Lender.” As a leader in SBA Lending, they claim to provide a quicker, more streamlined process for their borrowers. SBA loans provide 90% financing, longer loan amortizations, no balloon payments and fixed-rate interest rates. The less traditional loan packages offer smaller more flexible loan options. Because they are a bank rather than a lending institution, Pacific Premier can use their own inhouse underwriting and application processing to centralize for a smooth process.

Understanding Your Loan Options

Pacific Premier offers a pretty wide choice of SBA loans. Initially they offer the two major SBA partnership loans are available including the 504-unsecured loan program that focuses on real estate and machinery funding. So this is a great source of unsecured business funding. The 504 loans include job creation requirements: Manufacturers, for example, must create or retain one new job for each $100,000 of the loan, while all other industries must create or retain one new job for each $65,000 of the CDC 504 loan. The 7(a) program that requires security but offers the same business expense loans for equipment, office furniture, former business debts or real estate loans for variable or fixed rates and up to 25-year terms.

Pacific Premier also has several California development programs that are government-backed financial products, known as the California Capital Access Business Loan Program and the Small Business Credit Initiative Loan Guarantee Program. They also are willing to do USDA Business and Industry Loans as well as the Bureau of Indian Affairs Loan Guarantee Program. All have different standards and conditions, as well as differing terms.

Speed of Implementation and Loan Duration

As a member of the SBA Preferred Lender Program (PLP), they are positioned to provide expertise and a streamlined process to help clients apply for SBA backed loans. Normally SBA loans can take easily up to 64 days to get approval, and that is after all of the applicant’s documents have been turned in to the bank. However, Preferred Lender status gives Pacific Premier Bank the authority to assess, document, approve and ultimately close the loan without direct SBA approval or review. From completed application to funding is probably more like thirty days because of the bank’s Preferred Lender status.

Fine Print and Final Thoughts

The fact that only the bank will be both the lender and servicer of your loan is a valuable commodity in and of itself. The complications that can form after a loan is approved and granted really calls for a consistency of care and advice across all the transactions involved.

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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