-
The agency has been applauded for efforts to shorten the application process for certain 7(a) loans, though the move has also raised concerns about the potential for loosened underwriting.
June 17 -
Seacoast Commerce Bank (SCCB) in San Diego has opened a new loan production office in Boise, in an effort to extend its Small Business Administration lending business to Idaho and eastern Washington.
May 28
Opus Bank (OPB) in Irvine, Calif.,
The $4 billion-asset commercial bank will offer revolving loans of credit, term loans, merchant card services, treasury management and payment services to small businesses in its West Coast service area.
The new division will target businesses with annual revenues of up to $5 million, Michael Allison, a co-president at Opus, said in a June 24 press release.
Miguel Serricchio will oversee the new business. He joined Opus in 2012 as an executive in the bank's treasury management and payment solutions division.
Opus's commercial banking business has expanded rapidly in the past year. The bank formed
Opus Bank operates 60 offices in California, Washington, Oregon and Arizona.
