By THOM SENZEE Contributing Reporter A couple of California’s top business banks are working to let companies know they have money to lend; are still lending money; and are actively seeking borrowers. Both Union Bank of California (UBOC), based in San Francisco, and City National Bank, headquartered in Los Angeles, have put the word out that they are still lending to businesses of all sizes. Both claim their lending practices have been so rock-solid that they have changed almost nothing even as some other banks scramble to survive. Wells Fargo, while not mounting a formal effort to make consumers and businesses know they are still making loans, said it is still in the business of offering loan products. “While we don’t have a formal campaign to get the word out, from our bankers to our executives, we are certainly saying that we are open for business and actively making loans,” said a spokesperson for San Francisco-based Wells Fargo. That statement, while encouraging to anyone who might have thought large institutions were unwilling or unable to make loans these days, is tacit compared to press releases from UBOC and City National. “Union Bank is in a great position to help small businesses,” read a press release from Union Bank. “Our net income and loan volume are growing, our credit status is strong, and we have capital to lend.” City National, true to its conservative tradition, was more demure in its call for borrowers and customers. The bank simply reminded the public of its reputation of stability and prudence, as well as its absence from the subprime fiasco. Meanwhile, Washington Mutual, which is now a unit of JPMorgan Chase, recently announced that it is still in the loan business, despite the latest upheaval in its own fortunes. As the Business Journal reported in the Oct. 13 issue, a WaMu official said we “still have money to lend,” at a recent conference.
