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Pacific Mercantile Bank provided a $7.5 million revolving line of credit to Mason-West, LLC, the premier western regional distributor of engineered seismic restraint systems and vibration isolation products manufactured by Mason Industries of New York. Along with the financing, Mason West utilizes a full suite of Pacific Mercantile Bank’s treasury.
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Pacific Mercantile Bank Expands Relationship with Simpson Sandblasting & Special Coatings, Inc.
December 22, 2020 08:00 ET | Source: Pacific Mercantile Bancorp Pacific Mercantile Bancorp Costa Mesa, California, UNITED STATES
COSTA MESA, Calif., Dec. 22, 2020 (GLOBE NEWSWIRE) Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ: PMBC), today announced that it has provided a $2.45 million credit facility to Simpson Sandblasting & Special Coatings, Inc. (“Simpson Sandblasting”), a company that first became a client of Pacific Mercantile through the Bank’s participation in the Small Business Administration (“SBA”) Paycheck Protection Program (“PPP”). 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