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Pacific Mercantile Bank Expands Relationship with Simpson Sandblasting & Special Coatings, Inc.

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 fi ....

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Pacific Mercantile Bank Provides $2.45MM Credit Facility to Simpson Sandblasting & Special Coatings - News

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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, brid ....

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