Community Bank of the Bay Names Andrew Yoo to Start up New SBA Loan Program for Small Business Clients.OAKLAND, Calif. -- Community Bank of the Bay (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CBYAA) has announced that Andrew Yoo has joined the bank to start up a new SBA SBA abbr. Small Business Administration Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government loan program for small business clients. "Andy has an outstanding background helping small businesses with their financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. needs," said Brian Garrett, president and chief executive officer. "Under his leadership, Community Bank will begin offering a full line of Small Business Administration-guaranteed loan products to businesses in the greater Oakland area." The U.S. Small Business Administration offers business loan guarantees worth up to $2.5 million to help qualified small businesses obtain financing when they might not otherwise be eligible for business loans through normal lending channels. SBA financing can be used for a variety of qualified general business purposes, from buildings to equipment to regulating cash-flow. Yoo, 31, most recently worked for Well Fargo as a business specialist, helping clients with their cash management needs. During his tenure at Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. , he facilitated more than $1.65 million in loans and credit lines. Prior to joining Wells, he worked at the nonprofit West Contra Costa Contra Costa can refer to:
"As a locally owned bank, we are committed to helping businesses in Oakland succeed," Garrett said. "With Andy's expertise and our new SBA product lines, we can provide the smaller businesses in our community with the personal attention they deserve for their specialized financing needs." "SBA loans are ideal for providing well-managed but undercapitalized Undercapitalized A business has insufficient capital to carry out its normal functions. undercapitalized Of, relating to, or being a firm that has insufficient long-term equity to support its assets. companies the liquidity they need to mature and grow," said Yoo. "Start-up companies start-up company A new business. and small businesses that have been in business less than three years will find our SBA product options very appealing." Community Bank of the Bay is located at 1750 Broadway, Oakland, with free parking provided on-site. The office is open from 9 a.m. to 4 p.m., Monday through Friday. Information on the bank and its services is available online at www.communitybankbay.com. A photo of Andy Yoo, as well as b/w and color copies of the NEW Community Bank logo, scanned specifically for print publication, can be easily downloaded at www.givememore.com/communitybank |
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