Elliott

I. FACTS AND PROCEDURAL BACKGROUND

A. Facts1 In 2004, Elliott and a group of business associates obtained three loans from Community Bank of Central California (Community Bank) to fund their business enterprise, Premium Fresh Farms, LLC (Premium Fresh). The loans totaled $3,650,000, as follows: (1) United States Small Business Administration (SBA) loan No. 78186840- 09, in the sum of $1,900,000, issued on October 12, 2004, guaranteed through the SBA and personally guaranteed by Elliott and each of his business associates; (2) Community Bank loan No. 160064291, in the sum of $1,000,000, not subject to any agency guarantee but personally guaranteed by Elliott and each of his business associates; and (3) Community Bank loan No. 190012401, in the sum of $750,000, guaranteed through the

1 We draw the facts recited here from the record that was before the trial court when it ruled on the motion for summary judgment (Yanowitz v. L’Oreal USA, Inc. (2005) 36 Cal.4th 1028, 1037), including the parties’ separate statements of undisputed material facts, evidence judicially noticed in conjunction with the motion for summary judgment, and admissions in the parties’ appellate briefs. (See Kim…