Pacific Mercantile Bank provided approximately $19 million in financing to Marina Landscape, Inc. to help fund the company's ongoing operations and expansion plans. The total financing package consists of a working capital credit facility, a term loan to finance equipment purchases, and the refinancing of a commercial real estate loan.
Headquartered in Anaheim, Marina Landscape ("Marina") is an award-winning landscape construction company that specializes in large-scale landscape construction and maintenance projects throughout the western United States. Founded in 1971, Marina has become one of the 16 largest landscape and site development contractors in America. Marina's diverse project experience includes theme parks and recreation facilities, sports fields, golf courses, hotels and resorts, commercial and industrial developments, public facilities, streetscapes, highway beautification, wetlands and re-vegetation zones, and master planned communities.
"We needed a bank that had the ability to grow along with our company and we were very pleased with the creative financing solutions that Pacific Mercantile Bank developed for us," said Bob Cowan, President and CEO of Marina Landscape. "The senior management and lending team spent a great deal of time with us in order to learn our business, and we were able to develop the level of trust that we want in our financial partner."
"Marina Landscape is one of Orange County's great small business success stories and serves some of the premier entertainment, sports and hospitality venues in the country," said Tom Vertin, President of Commercial Banking for Pacific Mercantile Bank. "We are proud to be a part of Marina's continued growth as they build on more than 40 years of success."
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 financial centers and comprehensive, sophisticated electronic banking services.