CalPrivate Bank has increased its emphasis on Small Business Administration loans, establishing two separate SBA lending channels.
It will make loans through its branch network as well as its Private Business Capital division. The latter services brokers and financial partners.
The organization said Aug. 24 that it has hired 14 people to its SBA team this year. They include managers, producers, underwriters and processors.
“These additions are another example of our ability to expand our geographic reach and add great people to our already outstanding team,” said bank President Rick Sowers in a prepared statement. “SBA is an area where we had the infrastructure and support ready to scale.”
Cal Private Bank has offices in San Diego, Orange, Los Angeles and Riverside counties. Its parent company, Private Bancorp of America Inc., trades over the counter with the symbol PBAM.