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Pacific Mercantile Bank Provides $2.5MM in Financing to Karish Industries

September 05, 2018, 07:00 AM
Filed Under: Distribution

Pacific Mercantile Bank, the wholly owned subsidiary of Pacific Mercantile Bancorp, announced that it has provided a $2.5 million revolving line of credit to Karish Industries.  In addition to the financing, Karish Industries utilizes a full suite of Pacific Mercantile Bank's depository products and cash management services.

Headquartered in Orange, CA, Karish Industries is an electrical cable distributor that focuses primarily on the street lighting, fire alarm, and fiber optic cable markets.  Founded in 1993, Karish Industries has developed a strong, loyal customer base due to its product knowledge, timely delivery, fair pricing, and outstanding customer service. The company works with customers all across the United States and has vendor relations in numerous product lines, enabling its customers to receive great service and pricing.

"Our previous credit facility with another bank proved to be too restrictive and limited our ability to invest in new growth opportunities," said Steve Brodock, CEO of Karish Industries.  "Pacific Mercantile Bank worked hard to understand our cash flow cycle and customize a line of credit that enables us to access the financing we need to support the growth of our business.  We are also looking forward to leveraging the bank's Horizon Analytics®to help us better assess the financial impact of investments we are making in various areas of our operations."

"Karish Industries has combined superior pricing, product availability and customer service to consistently grow its customer base and expand into new markets," said Mark Martinez, Senior Vice President and Regional Manager at Pacific Mercantile Bank.  "The company has a strong business model and excellent management, and we are pleased to support their continued success."

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