California Oaks in the business of lending

FINANCIAL ADVISORS-From left, Vice President and SBA Manager Timothy Weaver, President and CEO Cole Minnick, and Vice President Barry Yablow, accounts receivable financing manager, introduce a wide array of loans at California Oaks State Bank. California Oaks State Bank, a locally-owned $100 million community bank, has announced a broad new spectrum of loans available to customers.

While all community banks offer the traditional commercial banking products, Cal Oaks has added Small Business Administration (SBA) lending and accounts receivable financing as two additional features.

This broad array means that the bank can tailor its lending capability to fit almost any situation that a business encounters.

"Cal Oaks provides one of the most comprehensive set of loan programs in our market," said Cole Minnick, president and CEO. "When a customer asks us to assist in building his business, we can find a way to make that happen."

In the accounts receivable financing area, called factoring, the

bank has clients from many different industries. These companies deliver excellent products or services to credit worthy customers yet found themselves in a cash crunch because they are:

A young company with creditworthy customers but lack the financial track record for traditional bank lines of credit;

A company positioned to increase their sales volume but they didn't want to incur more debt, take on equity partners, or increase overhead;

A company with seasonal or uneven sales patterns;

A company that has experienced operating losses, identified and corrected the problems and need to move forward;

A start-up operation with no capital base to rely on.

"So this specialized lending expertise allows us to assist customers that other bank's would turn

away. Customers have immediate access to cash to meet their daily business needs and continue to build their company," said Barry Yablow, vice president and accounts receivable financing manager.

"Our SBA-approved Preferred Lenders Program status means quick processing and approval without the concurrence of the SBA," said Tim Weaver, vice president of SBA Lending. "The bank often combines the SBA guarantee loan portion with some commercial lending program to satisfy the needs of the customers."

The bank offers extensive financing choices under its SBA program, including business acquisition and expansion, debt refinance, commercial real estate acquisition, purchase of machinery and equipment.

A majority of businesses are eligible under their program.