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

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Eric Oh, VelocitySBA Sales Manager [Courtesy photo]

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

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

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


“Pasadena has always been a great place,” Oh said. “It’s in the center of the Los Angeles County geographic area where we can continue to serve the small business community, whether they’re in Central Los Angeles, the San Fernando Valley, or the San Gabriel Valley. I believe it is centrally located not only to support our staff, but also to be convenient for our local clientele.

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

“It could be anything from helping to buy a business, buying real estate for permanent residence for their business, refinancing their existing business, buying equipment, expanding his company’s production capacity, or any combination of those things,” Oh said when asked about VelocitySBA’s work.

As a non-bank SBA lender, VelocitySBA does not verify accounts and credit cards, Oh said.

The lender said it is able to provide customized solutions to the small business community through its expertise.

“First, we are SBA specialists. We take the extra time specific businesses need to understand their situation by taking the time to understand the unique nature of each business and understand their financial needs, as well as their business goals. We can look at how best to structure a financing solution that will not only meet their immediate capital needs, but also help them progress towards their business goals,” Oh explained.

Background

VelocitySBA said it started 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 is working to make the process quick and efficient, making substantial investments in cutting-edge lending technology while recruiting 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 part of a family of lending companies that includes Crossroads Equipment Lease and Finance. The company launched in May 2015, changed hands in 2017, and became a $350 million non-bank SBA lender.

Following the creation of the Pasadena hub, the company plans to locate its new headquarters in Costa Mesa and a Central Region hub office in Dallas, Texas. In 2023, the company said it plans to open a new hub in the Midwest.

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

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

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