Community National Bank Named Leading SBA 504 Community Bank Lender in Santa Ana District.Business Editors ESCONDIDO, Calif.--(BUSINESS WIRE)--Jan. 22, 2004 Community Bancorp, Inc. announced that its subsidiary, Community National Bank, was named the Leading 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 504 Community Bank Lender in the Santa Ana Santa Ana, city, El Salvador Santa Ana (sän'tä ä`nä), city (1993 pop. 129,873), W El Salvador. It is the second largest city in the country and the commercial and processing center for a sugarcane, coffee, and cattle region. District and Emerging Lender in the San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. District by the Certified Development Corporation (CDC See Control Data, century date change and Back Orifice. CDC - Control Data Corporation ) Small Business Finance. The Bank's SBA 504 division generated 17 loans for $28 million in the Santa Ana District and increased loan approvals 300% in the San Diego District for fiscal year 2003 to earn the awards. The SBA 504 lending division was established in early 2003 to specialize in providing loans for the purchase of facilities and equipment used by small business and is managed by Jordan Blanchard, Vice President, a 15-year veteran with extensive experience in SBA 504 lending. "The SBA 504 program allows small business to purchase their own real estate to help their businesses grow, make room for expansion and new employees and avoid high occupancy costs Occupancy costs are the whole life costs of buildings and their associated land from occupancy until disposal. These costs may be incurred on a regular or irregular basis. Occupancy costs are those costs related to occupying a space including; rent, real estate taxes, personal ," stated Gary M. Youmans, Executive Vice President of Community National Bank and outgoing 2003 Chairperson chairperson Chairman The head of an academic department. See 'Chair.', Cf Chief. of the Board of Directors of CDC Small Business Finance. "We look forward to continuing our successful experience of meeting the financing needs of small business and helping to stimulate economic growth and development during 2004." The SBA 504 Program provides growing businesses with long-term, fixed-rate financing for major fixed assets fixed assets npl → activo sg fijo fixed assets npl → immobilisations fpl fixed assets fix npl → , and can be used for purchasing land and improvements; construction of new facilities; modernizing, renovating or converting existing facilities; and purchasing long-term machinery and equipment. Community National Bank is a subsidiary of Community Bancorp, a $439 million financial institution headquartered in Escondido, California. The bank's primary focus is community banking and commercial lending, with an additional SBA lending niche. The bank serves northern San Diego County and southwest Riverside County with retail banking offices in Fallbrook, Temecula, Escondido, Bonsall and Vista, with an additional five SBA loan production offices in California that originate loans in California, Arizona, Nevada, and Oregon. www.comnb.com Statements concerning future performance, developments or events, expectations for growth and income forecasts, and any other guidance on future periods, constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to, loan production, balance sheet management, expanded net interest margin, the ability to control costs and expenses, interest rate changes and financial policies of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. government, and general economic conditions. Additional information on these and other factors that could affect financial results are included in its Securities and Exchange Commission filings. The Company disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any forward-looking statements contained herein to reflect future events or developments. |
|
|||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion