IRVINE, Calif. – April 25, 2013 – Opus Bank (the “Bank”) announced today that its Commercial Business Banking division provided $20.8 million of capital financing to nine small businesses located in California and Washington through various U.S. Small Business Administration (“SBA“) loan programs.
Stephen H. Gordon, Chairman and Chief Executive Officer of Opus Bank, stated, “Opus Bank is committed to enabling entrepreneurs and small businesses to grow, expand, enhance revenues, and create new jobs from the ground up, thereby rebuilding healthy, vital, and vibrant communities in the Western region.” Gordon added, “The business owners and entrepreneurs that we have chosen to back with this financing have the passion, vision, and ability to successfully grow and expand their companies during this economic rebound. At Opus Bank, we possess that same passion, drive, and success, having grown Opus Bank to $3.0 billion in total assets, with 52 banking offices located up and down the West Coast, and ranked as the fastest growing bank in the Western region.” Gordon concluded, “I am pleased to say that during 2012, Opus Bank provided over $1.0 billion of capital financing to those small and mid-sized commercial businesses, entrepreneurs, real estate investors, professionals, and consumers who share our vision to expand and grow.”
As an SBA Preferred Lender, Opus Bank provides SBA 504, 7(a), CAPLine, Express, and Patriot Express loans on an expedited basis to qualified commercial borrowers. These loans are available to businesses with up to $15 million of tangible net-worth and for most business purposes, including the acquisition or expansion of a business, the purchase of commercial real estate, equipment, and inventory; as well as for permanent working capital.
Opus Bank has provided capital financing through one or more of the SBA loan programs to the following California and Washington-based businesses:
A lawn and garden wholesaler and retailer located in Anaheim, California was provided an SBA 504 financing package for the purchase of the commercial building where the business is located. Opus Bank provided a permanent loan and arranged an additional interim loan, which will be permanently funded by an SBA Certified Development Company, to purchase a 20,000 square foot facility, from which the company retails lawnmowers and related gardening equipment to the general public and commercial landscape companies.
A licensed contractor located in Rancho Santa Margarita, California was provided an SBA 7(a) loan for the purchase of a company that designs, manufactures, and installs clean room systems.
A phone accessory manufacturer, distributor, and retailer located in Riverside, California was provided an SBA 7(a) loan for working capital, which was used to purchase equipment, refinance debt, and invest in the company’s strategic growth.
A self-storage operator located in Pierce County, Washington was provided an SBA 504 loan, which was used to make improvements to their facility and refinance existing debt.
A service-disabled veteran-owned business located in Fullerton, California was provided an SBA loan package consisting of seven SBA CAPLine loans and an SBA 504 loan. The loans enabled the company, which specializes in the construction of clean rooms, specialty lab facilities, and integrated systems, to hire additional employees and reposition their growing company with capital strength.
A specialty retailer and distributor located in Anaheim, California was provided an SBA 504 loan package to refinance their existing debt on the property that houses their business, which sells and distributes high-end, non-commodity pressure sensitive tape nationwide to companies in the aerospace, construction, energy, and shipbuilding industries.
An accounting firm located in Irvine, California was provided an SBA loan package that included an SBA 504 loan to fund the purchase and redevelopment of the building in which the accounting firm is now located. Additionally, Opus Bank funded an SBA 7(a) loan to refinance existing debt used to purchase the business.
An aerospace and defense contractor specializing in custom fabrication and machining located in the City of Industry, California was provided an SBA 504 financing package that was used to refinance the commercial property that houses their business, taking advantage of the lower rates provided by this financing package to reduce their operating costs, and to purchase additional equipment, facilitating increased sales, revenues, and profitability.
An automotive parts recycler, remanufacturer, and reseller located in Snohomish County, Washington was provided an SBA 504 loan to purchase an industrial warehouse. The new warehouse will be used to house their wholesale distribution business and provides the additional space needed to continue to grow their business.
To learn more about how Opus Bank is backing small businesses, please visit: www.opusbank.com/Spotlight
About Opus Bank
Opus Bank is an FDIC insured California-chartered commercial bank with $2.9 billion of total assets, $2.2 billion of total loans, and $2.0 billion in total deposits, as of December 31, 2012. Opus Bank provides high-value, relationship-based banking products and exceptional service to its clients comprised of small and mid-sized commercial businesses, entrepreneurs, real estate investors, professionals, and consumers. Opus Bank offers a wide range of loan products, including commercial and industrial, commercial real estate, multifamily residential, conforming and jumbo single-family residential, and consumer loans; and is an SBA Preferred Lender. Opus Bank operates 52 banking offices, including 30 banking offices in California and 22 in the Seattle/Puget Sound region in Washington. For additional information about Opus Bank, please visit our website: www.opusbank.com.
Mr. Stephen H. Gordon
Chairman & CEO
Mr. Jeff L. Leonard
SVP, Dir. of Corporate Strategy/Communications
Telephone: (949) 250-9800
Facsimile: (949) 250-9988