Pacific Mercantile Bank Partners with Fundation to Offer Simplified Online Applications for Small Business Loans

COSTA MESA, Calif, May 11, 2017 -- Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ:PMBC), today announced that it has partnered with Fundation® to offer small businesses a fast, convenient way to apply for a wide variety of financing options.

By leveraging the financial technology platform developed by Fundation, Pacific Mercantile Bank’s online Small Business Loan Solutions program offers companies the ability to apply for financing quickly using a convenient and secure digital loan processing system.  Qualified customers may receive approval in as little as one to three business days.

Through the Small Business Loan Solutions program, Pacific Mercantile Bank provides small businesses with the financing that meets their unique borrowing needs – from revolving lines of credit up to $100,000 to term loans of up to $1 million.

“Our new Small Business Loan Solutions program uses best-in-class technology to eliminate the tedious paperwork and to streamline the loan application process,” said Tom Vertin, President and Chief Executive Officer of Pacific Mercantile Bank.  “Through our simplified online loan application, we are combining cutting-edge financial technology with our commitment to exceptional client service, enabling Pacific Mercantile Bank to say ‘yes’ faster and more often to small business owners.”

To apply for a small business loan, visit https://www.pmbank.com/Financing/SmallBusinessLoans.aspx. 

About Pacific Mercantile Bank

Pacific Mercantile Bank opened for business March 1, 1999. The Bank, which is FDIC insured and a member of the Federal Reserve System, provides a wide range of commercial banking services to businesses, business owners and business professionals through its combination of traditional banking offices and comprehensive, sophisticated electronic banking services.

The Bank, headquartered in Orange County, operates a total of nine offices in Southern California, located in Orange, Los Angeles, San Diego, and San Bernardino counties. In addition, the Bank offers comprehensive online banking services accessible at www.pmbank.com.  Pacific Mercantile Bancorp (NASDAQ:PMBC) is the parent holding company of Pacific Mercantile Bank.

About Fundation

Fundation Group LLC is a digitally-enabled lender and credit solutions provider. The Company develops integrated small business lending solutions with banks, enabling them to deliver credit online, drive cost efficiency into their lending programs and maximize customer retention by providing a positive customer experience and meeting the needs of the small businesses they serve.  The Company also partners with a wide array of organizations that serve the small business market in various capacities to deliver credit products to the business community nationwide. For more information, please visit www.fundation.com.

Forward-Looking Information

This news release contains statements regarding our expectations, beliefs and views about our plans to continue to build our loan portfolio and supporting systems and processes.  These statements, which constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, can be identified by the fact that they do not relate strictly to historical or current facts. Often, they include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "project," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may." These forward-looking statements are subject to numerous risks and uncertainties. Actual results may differ materially from the results discussed in these forward-looking statements because such statements are inherently subject to significant assumptions, risks and uncertainties, many of which are difficult to predict and are generally beyond our control. These risks and uncertainties include, but are not limited to, the following: the impact of interest rates and other external economic factors and competition among financial services providers. We undertake no obligation (and expressly disclaim any such obligation) to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. For additional information concerning factors that could cause actual conditions, events or results to materially differ from those described in the forward-looking statements, please refer to the factors set forth under the headings "Risk Factors" in our most recent Form 10-K and 10-Q reports and to our most recent Form 8-K reports, which are available online at www.sec.gov. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on our results of operations or financial condition.

Pacific Mercantile Bank Contact:
Robert Anderson
EVP & Chief Banking Officer
714-438-2500

Fundation Contact: 
Debbie Miller
202-888-2738