Pacific Alliance Bank Announces Expansion in SBA Lending.
OTC Bulletin Board OTC Bulletin Board
An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. : PFBN) announced today expansion of its SBA SBA
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 lending, to work with the SBA policy changes to stimulate new loans to small businesses in Southern California. The Small Business Administration (SBA) recently announced that borrower fees have been dramatically reduced, guarantees to the lenders have been increased, and the definition of a small business has been expanded to allow more businesses to meet the definition of what qualifies under the SBA lending programs.
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SVP St Vincent de Paul Gary Youmans, a 30-year veteran of SBA lending, to head up this expansion. Mr. Youmans has an extensive background in the industry, both as a lender and advocate. He is a founder and board member of the National Association of Government Guaranteed Lenders (NAGGL), the industry's trade organization, and was the 2001 winner of the SBA National Financial Advocate of the Year in ceremonies held in Washington DC. Other additions include VP Chris Spivey who's been a leading SBA lender for over 20 years, and VP Shawn Macdonald, experienced in both underwriting and business development. Further additions to be announced To be announced (TBA)
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"We are very fortunate to bring on such a team to lead our SBA Department," said Rob Oehler, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Pacific Alliance. "We feel that the time is right to make this expansion, to help the small businesses increase their access to capital. Having the right people in place will make it work for both the borrowers and the Bank."
Pacific Alliance Bank was formed to achieve its mission of delivering business value in its market, serving small to mid-size businesses, owners, and key employees who seek a personal bank ready to meet their banking needs with customized financial services.
PAB is a full-service FDIC FDIC
See: Federal Deposit Insurance Corporation
See Federal Deposit Insurance Corporation (FDIC). insured community bank, headquartered at 8400 E. Valley Blvd., Rosemead, California 91770. For more information, contact Ms. Trish Lomeli-Sproles (626) 773-8897 or firstname.lastname@example.org and visit http://www.pacificalliancebank.com.
This document may include forward-looking information, which is subject to the "safe harbor" created by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act and the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. When the Bank uses or incorporates by reference in this document the words "anticipate," "estimate," "expect," "project," "intend," "commit," "believe" and similar expressions, the Bank intends to identify forward-looking statements. Our actual results may differ materially from those projected in any forward-looking statements, as they will depend on many factors about which we are unsure, including many factors which are beyond our control.
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|Date:||May 27, 2009|
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