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Pacific Mercantile Bank Provides $4MM in Financing to Kineticom

September 21, 2017, 07:00 AM
Filed Under: Telecom

Pacific Mercantile Bank, the wholly owned subsidiary of Pacific Mercantile Bancorp, announced that the Bank’s Asset-Based Lending Group has extended a $4 million revolving line of credit to Kineticom Inc., an industry leading telecommunications and IT staffing agency.  In addition to the financing, Kineticom utilizes a full suite of Pacific Mercantile Bank’s depository products and cash management services.

Based in San Diego, Kineticom is the global home for top technical talent, building effective, flexible workforces for enterprises in a wide range of industries, with a focus on engagement, retention and growth.  With offices throughout the U.S., Kineticom’s team of industry veterans has over 100 years of collective experience in IT, wireless and tower, and is uniquely qualified to fill roles in these highly specialized, ever-evolving spaces.

“As a staffing agency, we have a unique cash flow cycle that differs from most other industries,” said Jennifer Hawk, Chief Financial Officer of Kineticom.  “Pacific Mercantile Bank had experience working with our industry and was able to customize a credit facility to meet our specific working capital needs.  The line of credit provided by Pacific Mercantile Bank will enable us to effectively manage our liquidity as we continue to add clients and grow the business.”

“Kineticom’s commitment to exceeding client expectations has resulted in long-lasting relationships,” said Tom Vertin, President and Chief Executive Officer of Pacific Mercantile Bank.  “Since opening its doors in 1999, Kineticom has seen dramatic growth and now works across 47 states.  We are pleased to support their continued growth and success.”

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