LOS ANGELES, May 11, 2022 (GLOBE NEWSWIRE) — City National Bank today announced that it is ranked the second largest lender in the United States for 504 Small Business Administration (SBA) loans, according to the mid -SBA’s 2022 fiscal year. City National approved 79 small business loans worth more than $140 million between October 1, 2021 and March 30 of this year. 504 loans are used for a variety of assets that support business growth, including the construction of new buildings or the purchase of existing buildings and equipment. City National’s top national ranking reflects its history of serving entrepreneurs and understanding their goals. The bank’s SBA team has also expanded nationally to meet the financial needs of its customers.
“Entrepreneurship is at the very heart of our business, and City National Bank understands entrepreneurs better than anyone,” said David Cameron, senior vice president and head of corporate banking at City National. “We are a bank founded by entrepreneurs, and our customers continue to rely on our personalized service to help their businesses grow.”
The 504 loan has made a significant difference for Spectrum Lithograph, a family-run Bay Area manufacturing company that designs and prints boxes for packaging products. The loan resulted in a $13,000 reduction in monthly business expenses, giving the owner greater financial freedom for the future.
Shawn Pereira, Managing Director of Spectrum Lithograph, said: “City National Bank provided me with an ideal financial solution which allowed me to refinance the building, withdraw cash and reinvest it to purchase new equipment. for my business. No other bank has been able to provide me with an option that has helped me achieve all of these important financial goals. »
New team in place to provide coast-to-coast support
Over the past year, City National’s SBA team has grown significantly under the leadership of Nicole Auyang, SBA Sales & Strategy and Head of San Francisco Bay Area Business Banking.
The bank recently formed a new team that serves customers nationwide:
- James Cheung, SBA National Sales Manager
- Jerry Mondene, SBA Credit Manager
- Matt Foley, Sr. SBA Business Development Officer, East Coast
- Ceci Pistone, SBA Business Development Manager, Southern California
- Mike Shepston, SBA Senior Business Development Manager, Northern California and Nevada
- Mark Morales, SBA Loan Specialist
- Christina Schlink, SBA Loan Specialist
- Carmel Yannetta, SBA Loan Specialist
About the National City
With $91.5 billion in assets, City National Bank provides banking, investment and trust services through 73 branches, including 19 full-service regional centers, in Southern California, La San Francisco Bay Area, Nevada, New York, Nashville, Atlanta, Washington, DC and Miami*. In addition, the firm and its investment subsidiaries manage or administer $96.2 billion in client investment assets.
City National is a subsidiary of Royal Bank of Canada (RBC), one of the world’s leading diversified financial services companies. RBC serves more than 17 million personal, business, public sector and institutional clients through its offices in Canada, the United States and 27 other countries.
For more information about City National, visit the company’s website at cnb.com.
*City National Bank operates in Miami and the State of Florida as CN Bank.
Michele Ashley, National City Bank, 650.274.9333