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Business Builder
>> Application (pdf) >> Personal Financial Statement (pdf)
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Send completed applications to: |
One PacificCoast Bank, FSB c/o Business Builder 1438 Webster,Suite100 Oakland,CA 94612 |
Please sumbit Personal Financial Statement with Application
Questions? Call us! 510.550.8431 or email cwick@opcb.com
Frequently Asked Questions (FAQs)*
What is the lending amount range? You can request a Business Builder loan up to $25,000, with a minimum request of $5,000.
What can I use the loan for? You may use the loan to refinance business-related debt, purchase equipment, finance inventory and accounts receivable, business-related tenant improvements, or other working capital needs. Loans cannot be used to repay personal debt.
What is the interest rate? The Business Builder loan has a variable interest rate based on WSJ prime.
What are the minimum loan qualifying requirements? Business Builder loans are designed to help established businesses who show profitability in the last tax year. Loan eligibility depends on reported tax income as follows:
- Net Income > $5,000 for loan requests up to $10,000
- Net Income > $10,000 for loan requests up to $25,000
How long do I have to repay my loan? Repayment terms range from two to four years. Loan payments are made in monthly principal & interest installments. Once your loan is funded, monthly payments will be automatically deducted from your checking account.
Is collateral required? Yes. UCC-1 perfected lien position on all assts (may be waived if assets do not have residual value upon liquidation).
What are the fees? One PacificCoast Bank will charge a $100 application fee. If approved, there is an additional $150 documentation processing fee.
Do you offer Business Builder loans in all 50 states? No. We only offer Business Builder loans to businesses in California, Oregon or Washington.
What happens after I apply? One PacificCoast Bank promises an expedited turnaround time once a completed application is received. (Please note: some applications require further consideration, and additional information may be requested. Credit is subject to approval. Normal credit standards apply.)
In order for funds to be disbursed, you must come into a branch to sign loan documentation.
Who should I contact if I have questions? Contact a business banker at 510.550.8431.
* The above FAQs are meant as a general overview and do not provide a comprehensive description of One PacificCoast Bank’s Business Builder loan program. For further details, requirements, and policies, please contact us directly at 510.550.8431 or email cwick@opcb.com.
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