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  Pacific City Bank SBA Loans

Pacific City Bank SBA Loans

in Business Loans from Pacific City Bank

Unaffiliated

Pacific City Bank SBA Loans

Unaffiliated

in Business Loans from Pacific City Bank

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Highlights
Loan Amount Up to $5,000,000
APR  (Fixed APR) N/A
Loan Term (Months) Up to 300 months

Pacific City Bank SBA Loans Review

Pacific City Bank SBA Loans is a business financing offering by Pacific City Bank, based in Los Angeles, CA. Founded in 2003, Pacific City Bank offers access to business loans in 7 states across the USA.

Pacific City Bank SBA Loans FAQ

What are Pacific City Bank SBA Loans’s rates?

Pacific City Bank SBA Loans offers a fixed APR business financing product but they do not disclose their rates.

Does Pacific City Bank SBA Loans charge an origination fee?

Yes, Pacific City Bank SBA Loans charges a loan origination fee.

What limitations does Pacific City Bank SBA Loans set on the purpose of the loan?

Pacific City Bank SBA Loans considers loan applications for business purposes, such as:

  • Equipment Purchase
  • Hiring
  • Inventory
  • Lease Improvement
  • Marketing
  • Payroll
  • Technology Investment
  • Working capital

What types of business loans does Pacific City Bank SBA Loans offer?

Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Pacific City Bank SBA Loans provides access to the following business loan types:

  • SBA Loans

Does Pacific City Bank SBA Loans charge prepayment fees?

Yes, Pacific City Bank SBA Loans charges additional fees to borrowers who pay off their loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a loan early.

What is the maximum loan term you can get with Pacific City Bank SBA Loans?

Pacific City Bank SBA Loans offers business loans with a maximum term of 300 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What do you need to qualify for Pacific City Bank SBA Loans?

Pacific City Bank SBA Loans does not require borrowers to have been in business for a minimum number of years. Businesses don't have to meet a minimum annual revenue to be considered.

Applicants with a credit score of at least 600 and up to 850 may be eligible for Pacific City Bank SBA Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Pacific City Bank SBA Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Pacific City Bank SBA Loans. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Recent pay stubs
  • Proof of income
  • Recent bank statements
  • Business formation documents
  • Driver's license
  • Government issued photo ID
  • Proof of identity

Does Pacific City Bank SBA Loans report your account activity to credit bureaus?

Yes, Pacific City Bank SBA Loans reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

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Contact

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 5:00pm
  • Tuesday 9:00am - 5:00pm
  • Wednesday 9:00am - 5:00pm
  • Thursday 9:00am - 5:00pm
  • Friday 10:00am - 6:00pm
  • Saturday Closed

Other Services by Pacific City Bank

Availability

  Available in 7 states
  • California
  • Colorado
  • Georgia
  • Illinois
  • New York
  • Virginia
  • Washington

Feature Breakdown

NSF Fee $30
Applicant's Minimum Percentage of Business Ownership 51%
Business Financing Requirements
  • Business License
  • Business Bank Account
Credit Score Range 600 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Verification Documents Required
  • Recent Pay Stubs
  • Proof of Income
  • Proof of Identity
  • Business Formation Documents
  • Government Issued Photo ID
  • Recent Bank Statements
  • Social Security Number
  • Driver License (or other photo ID)
  • Income Statement
  • Balance Sheet
  • Cash Flow Statement
  • Business Tax Return
  • Employer Identification Number
Business Loan Type SBA Loan
Collateral Requirement
  • Secured
  • Unsecured
Intended Use of Funds
  • Equipment Purchase
  • Lease Improvements
  • Working Capital
  • Inventory
  • Payroll
  • Hiring
  • Technology Investment
  • Marketing
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Payment Frequency Monthly
Payment Options
  • Automatic Payments
  • Bank Transfer
Loan Amount Up to $5,000,000
Loan Term Up to 300 months

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