The Paycheck Protection Program (PPP) loan and application process are complicated, novel, and ever-changing as new rules and information are released by the Small Business Administration (SBA) and other governmental authorities continuously. The processing times for PPP applications are impacted by many factors, including, without limitation, information received from the SBA and borrowers, the number of applications submitted, and the availability of funding from the federal government for the PPP loan program. Some borrowers are more responsive than others, including in the application process.
PPP loan and application processing decisions by River City Bank, including timing and priority, necessarily must be made on a loan-by-loan basis. Please understand that River City Bank will process PPP loan applications in such order and manner as River City Bank may determine in its sole discretion taking into account, among other things, providing priority to existing River City Bank customers.
Visit our Paycheck Protection Program Resource page to view a series of webinars and presentations aimed to help you navigate the PPP application process and better understand details of loan forgiveness.
Your ability to succeed in today’s business climate predicates upon your ability to seize opportunities the instant they arise. You can’t wait—you can’t afford to wait—when the situation is prime. This requires more than a bank. It requires a partnership with a financial institution that works in lock-step with your business—a trusted financial partner you can count on to deliver the financing you need, at the time you need it.
Starting with your own personal Relationship Manager who is well versed in your specific industry, and backed by prompt decisions made locally, you’ll experience an entirely new realm of business lending that supports your plans for expansion and growth. At River City Bank, we give you more than just a loan or working capital line of credit. We deliver a personalized service experience that is tailored to your specific needs and is here to help your business succeed.
If you need to purchase new or used equipment to help your business expand, River City Bank has a variety of secured loan products with flexible terms and competitive rates, all designed to meet your needs.
Lines of credit provide flexibility to take advantage of business opportunities as they arise and to support seasonal needs.
Revolving line of credit
This allows a business to borrow, repay and borrow again up to the original line of credit amount during the life of the loan. We offer automatic pay-downs and cash advances. We can also manage your excess cash balances.
Non-revolving line of credit
This allows a business to borrow an amount either in a lump sum or an amount dispersed over a period of time. Each time a payment is made, the credit availability reduces by that amount.
Standby letters of credit are available when you need to provide the additional strength of the bank’s credit standing with your own.
The Main Street Lending Program is designed for small and medium-sized businesses that were in sound financial condition before the onset of the COVID-19 crisis, but now need assistance to help maintain their operations. Learn more about the Main Street Lending Program.
Talk to one of our industry experts today. Call us at (916) 567-2600.