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Pacific Mercantile Bank Provides $2.45MM Credit Facility to Simpson Sandblasting & Special Coatings
December 22, 2020, 07:10 AM
Pacific Mercantile Bank has provided a $2.45 million credit facility to Simpson Sandblasting & Special Coatings, Inc., a company that first became a client of Pacific Mercantile through the Bankâs participation in the Small Business Administration (âSBAâ) Paycheck Protection Program (âPPPâ). The new credit facility will be utilized to refinance an existing owner-occupied commercial real estate loan, provide a revolving line of credit for working capital/bonding needs, and provide financing for equipment purchases.
Headquartered in Fontana, California, Simpson Sandblasting & Special Coatings, Inc. specializes in sandblasting and painting water storage reservoirs, pump stations, clarifiers, digesters, bridges, concrete reservoirs, water treatment plants as well as elevated and petroleum tanks. Simpson Sandblasting is also one of the few companies equipped and experienced to remove and apply coal tar enamel as well as other specialized coatings on the west coast. Simpson Sandblastingâs reputation of excellence has allowed the company to expand operations into other states such as Nevada, Arizona, Oregon, Washington, New Mexico and Utah.