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Small Business FAQOnline Banking
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Small Business Administration (SBA) Loans
What is Direct Business Internet Banking? Direct Business Internet Banking allows California Bank & Trust customers to bank via the Internet. By using a computer and Internet access, you can access financial information 24 hours a day, 7 days a week.What can I do with Direct Business?
How do I apply for Direct Business?
How much does Direct Business cost? Your monthly fees are waived for the first 3 months; however, bill payment fees, if applicable, will be charged to your account.
If I have multiple businesses, can I sign them all up for Direct Business? Direct Business allows you to view accounts, which are under one Tax ID Number. If you have a parent company with smaller entities underneath it, all operating under various TIN's, you may be interested in CalBank Network Internet-based Cash Management.How do I access my accounts with Direct Business? After your application has been approved, your Welcome Kit will arrive. This kit will include your Company ID, which you will need to get started with banking online. To get started, simply click on the Direct Business Login link located in the top left box.I have both personal and business accounts with California Bank & Trust; can I access all accounts with Direct Business? Yes, you may access both business and personal accounts if your personal accounts are linked to your business profile.Can I get copies of checks through Direct Business? Activity posted to your accounts is readily available online. Account information may be printed or downloaded for offline use. History can be reviewed for up to 18 months or as long as your accounts have been activated for Direct Business, whichever is less.Can I download my information into leading financial software titles? Account activity and bill payment information history stays on Direct Business for up to 18 months, so you will want to download your history periodically. With Direct Business you can easily export this information to popular financial planning software programs such as QuickBooks, Quicken or Microsoft Money. Direct Business offers easy downloading of your transaction information via a Download button in the Account Detail sectionCan I transfer funds between accounts? Yes, you can transfer between your eligible accounts*. Please check with your branch for further information on establishing account transfer relationships. *Federal law imposes transaction limitations on certain accounts and these limitations, as disclosed in the Deposit Account Agreement. Disclosure will apply to transactions initiated through these services.Can I view and make loan payments with Direct Business? YesWho can I call with questions or if I need technical assistance with Direct Business? For questions regarding Direct Business Internet Banking, or if you need technical assistance, please contact Direct Business Internet Banking Customer Service-Monday through Saturday, 7 a.m. - 7 p.m. PT (877)-650-0095 Password Reset-Monday through Sunday, 6 a.m. - 10 p.m. PTHow can I keep my information private? Direct Business information is secured through the use of a unique User ID/Login ID and password. You should keep your password confidential and change it frequently to ensure that no one else can guess it. You should not walk away from your computer without exiting the system first; when you are finished with Direct Business, click the SIGNOFF button located at the bottom of the left navigational toolbar. Once you have signed off, no further transactions can be processed until you log on to the system again.You can sign up for Bill Pay online. When setting up specific bill payments, you set the date that the payment is due. The system will automatically calculate the timing and process the payment to arrive on the payment due date. Please note: the maximum single payment amount allowed is $9,999.99. What are the system requirements? Direct Business requires a secure Internet connection with a browser capable of 128-bit SSL encryption, such as Internet Explorer 6.0 or higher (recommended). Direct Business can be accessed by IBM-compatible PC and Mac computers.CalBank NetworkSM's California Bank & Trust's "Gateway to Electronic Cash Management", providing business owners with access to critical banking information and money management tools. Learn more about this service. How can I deposit money without going into a bank branch? Scan and Send to deposit your business checks with Remote Deposit. Remote Deposit is a revolutionary technology that enables your business to scan paper checks directly from your office and transmit those images to the bank via a secure internet connection for processing and clearing. View our demo for more information.How can I transfer funds to a friend or family member? Banking is made even easier with Transfer-to-a-Friend — a free online banking feature that allows CB&T Online Banking customers to transfer funds from your account to the account of another online banking customer at CB&T.Is my business eligible for SBA financing? Over 95% of the nation's companies are classified as "small businesses" by SBA standards. Limitations are set by total revenues and number of employees according to industry. Almost every type of business qualifies for SBA financing: manufacturing, wholesale, service, retail. Loans cannot be made to speculative businesses, media businesses or businesses engaged in gambling activities. Select one of the following for more information:What are the advantages of SBA financing for my business? Simply put, a longer term means lower payments. Lower payments allow you to retain and utilize more working capital, which is essential for a growing business. Additionally, there are minimal prepayment penalties on SBA loans. All SBA loans are fully amortized. Therefore, your business will not be impacted with renewal fees, interim appraisal costs or untimely balloon payments.Zions Small Business Finance offers SBA 7(a) financing up to $2 million and SBA 504 loans up to $5 million. What can the funds be used for? Loans can be used for virtually any legitimate business purpose. Examples include: Purchase real estate, make improvements to your business property, purchase equipment, expand a business, consolidate debts, purchase another business, construct a new facility and finance a franchise.Aren't SBA guaranteed small business loans only for businesses that are not creditworthy by traditional banking standards? On the contrary, SBA financing will not be extended to any business that does not demonstrate the ability to repay debts. The longer terms allowed with SBA financing can enable your company easier debt qualification based on lower payments.What amount of equity will I be expected to have in my financing request? For an existing business, borrower equity can be as little as 10%, depending on creditworthiness. Start-up businesses are required to contribute at least 30% of the total project costs. Equity injection is typically cash.
Will the government be looking over my shoulder for the duration of my loan? As with any commercial loan, your lender, rather than the government, monitors and services your loan. The government's involvement relates to the guarantee only in the event of default.What are some common myths about SBA financing?
Can SBA loans be used to refinance existing business debt? Can SBA financing be used for construction? Yes, as long as the business will occupy at least 60% of the new building. The construction loan will convert to a fully amortized loan at the end of the construction. If an existing building is financed or refinanced, your business must occupy at least 51% of the facility.What costs are associated with an SBA loan? By statute, the maximum rate charged is 2.75% over the National Prime Rate for loans with maturities of seven years or more, and 2.25% over national prime rate for loans with maturities of less than seven years. The SBA itself charges a guarantee fee based on the loan amount, which is the only cost associated with the benefits of long term SBA borrowing. This fee can be financed as part of the loan proceeds. In addition, as with any other loan, the borrower will be responsible for direct processing costs such as title insurance, appraisals and other closing costs.How long will I have to wait for a decision on my application? Qualified applicants are given a pre-qualificiation letter (letter of interest) outlining major points of the loan, if requested. Upon receipt of all required information from the borrower, a formal request is submitted to our underwriters, with a decision usually within 5 business days. |
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