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 purchases.