pacific mercantile bank, the wholly owned subsidiary of pacific mercantile bancorp, announced that the bank’s asset-based lending group has extended a $3.5 million credit facility to santier, a san diego-based manufacturer.
the credit facility consists of a revolving line of credit and a term loan for machinery and equipment. in addition to the financing, santier utilizes a full suite of pacific mercantile bank’s depository products and cash management services.
santier is a world-class manufacturer of engineered thermal management materials, hermetic and non-hermetic microelectronic housings, and semiconductor packages. santier also provides stand-alone plating services all done in-house in san diego.
santier’s products help drive cutting-edge technologies across a broad array of industries including aerospace, defense, lasers, photonics, optoelectronics, communications and telecommunications.
“we chose pacific mercantile bank because they demonstrated the ability to understand our business and tailor a credit facility that was specific to our financial needs,” said warren bartholomew, chief financial officer of santier.
“as we execute on our growth plans, we will utilize the credit facility to invest in our operations and continue delivering the highest standards of service and expertise in engineering and manufacturing.”
“we were very impressed with santier’s extensive list of highly satisfied customers that has driven its growth and success,” said tom vertin, president and chief executive officer of pacific mercantile bank. “the combination of credit facilities that we were able to put together will provide santier with the flexibility it needs for its existing business, while supporting its pursuit of new market opportunities.”