Private Bancorp of America has announced that its subsidiary CalPrivate Bank now has two separate Small Business Lending channels so that it can utilize the Small Business Administration’s (SBA) full suite of products.
“We are fortunate to have had the opportunity to put together such a veteran group of professionals to grow our SBA business,” Thomas V. Wornham, president and CEO of PBAM, said in a press release. “Our SBA Team includes the addition of 14 new hires this year. This includes managers, producers, underwriters and processers. The relationship banking channel is headed up by Rob Pedersen, SVP and SBA division head, and our Private Business Capital is headed up by Steve Pollett, SVP, and division manager.”
Wornham added that “our enhanced SBA Team has exceeded our expectations for new loan production of 7a and 504 loans in the first quarter with us, and we look forward to continued success.”
CalPrivate remains an SBA Preferred Lender. The bank, which focuses on the coastal Southern California region, is headquartered in La Jolla, California, with branch locations in Coronado, San Diego, La Jolla, Newport and Beverly Hills. In addition, the bank’s Private Business Capital division is located in San Marcos.
“These additions are another example of our ability to expand our geographic reach and add great people to our already outstanding team. SBA is an area where we had the infrastructure and support ready to scale. Adding the right people in the right markets has allowed us to accelerate that process. We continue to make other strategic hires in our Southern California Coastal footprint as they become available,” said Rick Sowers, president of the bank.
The expanded SBA Team offices are located in five locations: San Diego, San Marcos, Newport, Temecula and Riverside. In addition, all of CalPrivate’s SBA products are available through the bank’s website.