Open Bank

This is a commercial bank offering SBA loan programs and small business financing solutions. You can find assistance with business loans, guidance through the application process, and personalized support for your financial needs.

It is recommended to schedule an appointment to ensure dedicated time with a loan specialist, but walk-ins may be accommodated depending on availability.

Open Bank operates Monday through Friday, 9:00 AM to 5:00 PM PST (or CST for Texas locations), excluding Federal Holidays. Hours may vary by specific branch location, so contact Open Bank directly to confirm.

There are no fees for simply visiting or consulting; however, loan processing and application fees may apply depending on the services used.

This bank primarily serves small business owners and entrepreneurs nationwide, regardless of residency, provided they meet lending criteria.

A minimum personal credit score of around 640 is generally required, though higher scores improve approval chances.

The underwriting process typically takes between 30 to 60 days, depending on the complexity of the loan and completeness of the application.

Most banks keep weekday business hours and are closed on weekends, and Open Bank typically follows the same pattern. SBA lending staff are generally reachable Monday through Friday. A few locations offer Saturday or by-appointment hours, so call Open Bank to confirm current weekend availability before you go.

Open Bank is located in California — see the contact card for the full address. Most bank locations offer free on-site or nearby street parking for visitors. For exact directions, the entrance, and accessible parking, use the listed address or call ahead and staff can point you to visitor spaces.

This page is an independent directory listing for Open Bank, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Open Bank itself, which runs its own lending under its own ownership. If you work at Open Bank, you can claim this listing from this page to manage it.

The core details for Open Bank — name, location, contact, and lender type — are compiled from public records and reviewed periodically. Rates, programs, credit policies, and hours change often and are not guaranteed here, so always confirm the latest terms directly with Open Bank before applying. If you represent Open Bank, claim this listing to keep its information up to date.

You can reach Open Bank by phone at (213) 892-9999 or online at myopenbank.com — the details are in the contact card on this page. For SBA loans specifically, ask for their business lending or SBA department. Treat this directory page as a starting point and confirm hours and contact details with Open Bank before relying on them.

Based on its approved SBA loans, Open Bank most often finances businesses in general retail, hotels & lodging, restaurants & food service, gas stations & convenience, wholesale & distribution, and automotive repair & services. This reflects Open Bank's real SBA 7(a) and 504 lending history rather than a stated policy — it can still consider other industries and sets its own current preferences, so confirm with Open Bank which sectors it actively lends to before you apply.

SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether Open Bank participates in SBA Express depends on its specific SBA lending authority. Contact Open Bank and ask if it offers SBA Express and what the current limits and terms look like for your situation.

Open Bank holds SBA Preferred Lender Program (PLP) status, enabling faster loan approvals by processing loans in-house rather than routing through the SBA for each approval. Verify current status directly with Open Bank.

The SBA does fund start-ups, but many traditional lenders prefer at least two years of operating history and may ask newer ventures for a larger equity injection or stronger collateral. Open Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Open Bank directly whether it considers start-up loans.

For SBA 7(a) and 504 commercial real estate loans, borrowers typically contribute around 10% to 20% as a down payment or equity injection, depending on the property and the deal. Exact requirements vary with your credit, the business, and the lender's policy. Ask Open Bank what down payment it expects for your specific commercial real estate purchase.

SBA 7(a) loans with terms under 15 years generally carry no prepayment penalty, while longer real estate loans can have one in the early years. Short-term working capital lines often have no penalty, but terms vary by lender. Review your loan agreement and ask Open Bank to spell out any prepayment penalties before you sign.

SBA loans can be used for a partner or owner buyout, including buying out an existing equity partner, when the deal is structured to meet SBA rules — for example, the remaining owner generally must stay actively involved. Approval depends on the specifics, so discuss your buyout plan with Open Bank to confirm it qualifies and how to document it.

A past personal bankruptcy does not automatically disqualify you from an SBA loan. Lenders look at how long ago it was discharged, the circumstances, and how your credit has recovered since. Open Bank weighs this case by case under its own policy, so be upfront about your history and ask Open Bank how it evaluates prior bankruptcies.