Patriot Express Loan Volume Tops $6 Million in Riverside, San Bernardino, and Orange Counties
The Patriot Express Pilot Loan program, has reached $633 million in loans to 7,650 veterans and members of the military community nationwide. In Riverside, San Bernardino, and Orange Counties, this represents more than 100 loans for more than $6 million, averaging $58,000.
In the four years since its creation, more than 100 loans have been disbursed to small business borrowers through the SBA’s Patriot Express initiative to businesses based in Orange, Riverside, and San Bernardino counties. The program features one of SBA’s fastest turnaround times for loan approvals, and are available for amounts of up to $500,000 and can be used for most business purposes, including start-up, expansion, equipment purchase, working capital, inventory, or business-occupied real estate purchases. The loan can be structured as either a term loan or line of credit. Eligible individuals include veterans, active-duty military members eligible for the Transition Assistance Program, Reservists, and National Guard members, as well as the spouses of these groups. Established on a pilot basis, the Patriot Express program was recently extended for an additional three years.
Below is a break down by lender of their Patriot Express loan volume (updated 6/28/2011):
| Lender Name | Loans | Gross PX Lending | Average Loan Size |
| SUPERIOR FINANCIAL GROUP, LLC | 41 | $497,500.00 | $12,134.15 |
| BORREGO SPRINGS BANK, N.A. | 20 | $825,000.00 | $41,250.00 |
| BANK OF AMERICA NATL ASSOC | 8 | $381,000.00 | $47,625.00 |
| SUNWEST BANK | 7 | $1,097,500.00 | $156,785.71 |
| CENTER BANK | 6 | $90,000.00 | $15,000.00 |
| U.S. BANK NATIONAL ASSOCIATION | 6 | $647,000.00 | $107,833.33 |
| BANCO POPULAR NORTH AMERICA | 4 | $643,200.00 | $160,800.00 |
| CALIFORNIA BANK & TRUST | 2 | $124,000.00 | $62,000.00 |
| GATEWAY BUSINESS BANK | 2 | $145,000.00 | $72,500.00 |
| PACIFIC CAP. BANK NATL ASSOC | 2 | $144,900.00 | $72,450.00 |
| CELTIC BANK CORPORATION | 1 | $162,800.00 | $162,800.00 |
| EAST WEST BANK | 1 | $243,000.00 | $243,000.00 |
| FIRST-CITIZENS NATIONAL BANK | 1 | $478,000.00 | $478,000.00 |
| INTERNATL CITY BANK NATL ASSOC | 1 | $150,000.00 | $150,000.00 |
| JPMORGAN CHASE BANK NATL ASSOC | 1 | $35,300.00 | $35,300.00 |
| PACIFIC ENTERPRISE BANK | 1 | $150,000.00 | $150,000.00 |
| PACIFIC PREMIER BANK | 1 | $200,000.00 | $200,000.00 |
| PROFESSIONAL BUSINESS BANK | 1 | $100,000.00 | $100,000.00 |
| SECURITY BANK OF CALIFORNIA | 1 | $100,000.00 | $100,000.00 |
| Grand Total | 107 | $6,214,200.00 | $58,076.64 |
