National Non-Bank SBA Lender Opens Office in Pasadena to Better Serve Small Business Community 

VelocitySBA, a non-bank lender licensed directly by the U.S. Small Business Administration to originate, fund and approve SBA loans to small businesses, has opened a new hub office in Pasadena.

When asked about what types of businesses could immediately benefit from the SBA loan programs offered by VelocitySBA in Pasadena, Sales Manager Eric Oh said they’re actively supporting industries of all types – from professional businesses such as medical, dental, and legal, to retail businesses, such as mom-and-pop liquor stores to restaurants, to manufacturing, wholesale, distribution and service-based businesses.

The Pasadena office is now VelocitySBA’s primary office for Southern California-based associates and operations staff. Over the last few years, the company has maintained an office in Los Angeles County, but had to close the physical location when COVID-19 started spreading. When they felt it was time to reopen, they chose Pasadena “to better serve our small business community.”  

“Pasadena’s always been a great place to be,” Oh said. “It’s central to the LA county geographic area where we can continue to serve the small business community, whether they’re in central Los Angeles or San Fernando valley or San Gabriel Valley. I think it’s centrally located to not only support our staff, but to be convenient to our local clientele.” 

VelocitySBA said its primary function is to help people purchase businesses, expand their existing ones, or refinance them among other things to help small businesses. 

“This may be anything across the spectrum from helping someone purchase a business, to purchasing a real estate for their businesses’ permanent home, or a refinance of their existing business, or to purchase equipment, to expand their businesses’ production capacity, or any combination of those things,” Oh said when asked about the work of VelocitySBA. 

As a non-bank SBA lender, VelocitySBA doesn’t do checking accounts and credit cards, Oh said.  

The lender said they are able to provide custom tailored solutions to the small business community thanks to their expertise. 

“Number one, we’re SBA specialists. We take the extra time that specific businesses need to understand their circumstances by taking the time to understand the unique nature of each individual business and understanding their financial needs, as well as their business goals. We can take a look at how best to structure a financing solution that will not only accomplish in fulfilling their immediate capital needs, but also help them in moving towards their business goals,” Oh explained. 

Background

VelocitySBA said they began with the goal of providing small business owners with access to much-needed capital through the SBA loan program. With this primary goal of common sense lending, the company said it strives to make the process fast and efficient, making substantial investments in state-of-the-art lending technology while recruiting the top SBA lending professionals.

Formerly Crossroads Small Business Solutions, Velocity SBA is directly affiliated with Velocity Vehicle Group, a national leader in the transportation and logistics industry, and is part of a family of lending companies that includes Crossroads Equipment Lease and Finance. The company was launched in May of 2015, transitioned management by 2017, and has grown to become a $350 million non-bank SBA lender.

Following the establishment of the Pasadena hub, the company plans to set up its new headquarters in Costa Mesa, and a central region hub office in Dallas, Texas. In 2023, the company said they’re looking towards opening a new Midwest hub. 

VelocitySBA is located at 1055 E. Colorado Blvd, Suite 215 in Pasadena. 

For more information, call (877) 675-0500 or visit www.velocitysba.com.