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Business Loans

Revolving Lines of Credit

If your goal is to meet short-term cash needs such as financing receivables and inventory - or simply infusing your working capital - then a line of credit may be the right financing option for you.

Term Loans

Commercial Term Loans are designed to provide an effective way for businesses to fund those purchases of vehicles, equipment, or other fixed assets. Talk to one of our Relationship Managers about obtaining a term loan that best fits your business’ financing needs.

Commercial Line of Credit (LOC)

Commercial Line of Credit is a cost-effective borrowing opting that can provide the business with supplemental cash as needed to fund seasonal changes in inventory and receivables, take advantage of vendor discounts, or support day-to-day operations.  Secure a line of credit with the assistance of a Relationship Manager and benefit from a short-term financing solution that can help keep operations running smoothly.

Commercial Line of Credit is a cost-effective borrowing opting that can provide the business with supplemental cash as needed to fund seasonal changes in inventory and receivables, take advantage of vendor discounts, or support day-to-day operations.  Secure a line of credit with the assistance of a Relationship Manager and benefit from a short-term financing solution that can help keep operations running smoothly.

Commercial Real Estate Loans

Commercial Real Estate Loans provide financing, at competitive rates, for the purchase, refinance or renovation of industrial, office, retail and medical buildings, and multi-family properties.  Talk to one of our Relationship Managers about the various financing options available that best suits your business needs.

Construction Loans

Construction Loans provide financing, at competitive rates, for building of industrial, office, retail and medical buildings, custom-built homes, small tract residential development and multi-family properties.  Talk to one of our experienced Construction Lenders about your project.

Standby Letter of Credit

Standby Letters of Credit can be used to support open account trade obligations, for a bid bond, a performance bond, support for a loan or for unpaid invoices made on an open account purchase.  The Standby Letter of Credit is a way for you to assure payment to a third party through the bank's obligation to release funds when the party you are doing business with satisfies the Standby Letter of Credit terms.  We will work with you to assure that the terms of the Standby Letter of Credit reflect the negotiations of all concerned parties.

SBA 504 Commercial Real Estate Loans

SBA 504 Commercial Real Estate Loans provide financing for the purchase of fixed assets, which usually means owner-user commercial real estate and equipment.

The 504 program works by distributing the loan among three parties; a conventional lender (typically a bank) lends 50% of the cost of the building, a Certified Development Company* (CDC) lends 40% of the cost, and the business owner injects a minimum of 10% of the cost.  If the commercial real estate is considered to be “special use” or a “start-up”, a 15% contribution is required by the borrower.  If the property is “special use” and a “start-up” operation, a 20% contribution is required.  Special use properties are businesses such as gas stations, motels, and assisted living facilities that can only be used for the purpose built.

For more details on the SBA 504 Commercial Real Estate Loan product, please call one of our Relationship Managers.

* Certified Development Companies (CDC) are established under Section 504 of the Federal Code as non-profit corporations set up to support economic growth in their local areas. In providing a 504 loan, Bank of Santa Clarita works with local CDCs.  Bank of Santa Clarita approves its portion of the financing request, and the CDC works with the SBA to approve their portion of the request.  The SBA portion of the financing request is a debenture that must be arranged with the financial markets.  Since the SBA funds are not available until after the asset has been purchased, Bank of Santa Clarita provides interim financing for the SBA portion until which time the debenture funded.

 

SBA 7(a) Loan Program

SBA 7(a) Loans are designed to improve cash flow, refinance debt, fund improvements, expand the franchise, purchase machinery and equipment, finance real estate or grow the business through acquisition or expansion.  Like other SBA types of loans, it features longer terms and lower down payment requirements versus conventional type loans.

Loan Amount:

  • Up to a maximum of $2,000,000.

Term:

  • Terms range between 7 to 25 years depending upon the use of proceeds.

Rate:

  • Rates are variable and generally do not exceed 2.75% over the One Month LIBOR plus 3 percentage points or Wall Street Journal Prime depending on loan size.

Collateral:

  • All of the business assets along with owners' personal assets if needed. In addition, all principals with 20% or greater ownership interest must personally guarantee.

How do I know if I'm a Small Business?:

  • SBA has decided that the NAICS code of your business and its affiliates will determine whether or not your business qualifies as a small business. The following guidelines are general in scope. Please contact us to discuss your business.
  • Manufacturing - between 500 and 1,500 employees
  • Wholesale - up to 100 employees
  • Retail - between $7 million and $27 million in sales (Based upon a 3 year average of annual sales)
  • Service - between $7 million and $25.5 million in sales (Based upon a 3 year average of annual sales)

How do I apply?:

Need Help / Have Questions?

Contact: Craig Conner

Vice President / Manager
Office: 661-362-6020
Fax: 661-799-0427
E-mail: cconner@bkofsc.com

SBA Application Download

You can download the full application package, or you can download individual items as needed.

Download the Application Package

Application Package

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