CBC National Bank is a $600 million community bank serving Ocala and The Villages. One of its most unique services is provided by its SBA division, which caters to small business owners, providing loans for real estate purchases, business acquisitions, construction, expansion and many other purposes. An SBA loan definitely has its benefits.
“Businesses benefit in several ways,” says Durand Childers, the executive vice president and managing director of the SBA Group. “First, an SBA loan does not require as much money down as a conventional loan. If an owner is looking at conventional loan products, you’re going to put 20 to 25 percent down. In most cases, an SBA loan requires 10 percent down. Secondly, the SBA loan has a longer term, or an extended maturity period.Conventionally, banks prefer a term of 15 to 20 years, while SBA loans offer terms of 25 years on real estate financing, for example. With less money down and extended maturities, businesses keep more of their capital for future growth.”
CBC has held its preferred lending partner (PLP) designation since opening in 1999, meaning the bank approves government loans internally, speeding up the process for borrowers. Part of its recipe for successful, time-efficient lending is their highly trained staff members, who handle each loan from beginning to end.
“You’ve got to have a dedicated staff with the knowledge, background and experience to do it right every time. Our staff has very little turnover—the majority of our staff has been together eight to 10 years. This is my 14th year with CBC. That tells you about our team and our culture.”
What sets CBC’s SBA division apart is its mission to build relationships with its clients, providing them with a positive, transparent borrowing experience.
“We have a defined process spelled out, and we set expectations on day one when we first meet with our client. We walk them through the process from beginning to end. We’ve closed SBA real estate loans in as soon as 21 days. Most take longer, but our loan process, on average, usually takes 52 days from beginning to end,” Childers explains.
An SBA division isn’t a fixture in every bank, but even among SBA lenders, CBC stands out. During fiscal 2015, CBC National Bank was recognized as the No. 1 community bank lender headquartered in the North Florida district for both dollar amount and number of loans. Also ranking No. 2 in the South Florida district and the state, CBC was ranked the 69th most active lender in the nation. That number is only getting higher thanks to its experienced staff, straightforward lending process and dedication toclient experience.
“With our clients, we try to create an experience; we try to build relationships; we try to build businesses,” says Childers. “It’s part of our culture; it’s part of our brand.”
CBC National Bank ›910 SW 1st Ave, Ocala › (877) 725-7722 › yoursbalender.com