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Pacific Mercantile Bank Expands ABL With Argos Material Distribution

November 16, 2015, 07:23 AM
Filed Under: Distribution

Pacific Mercantile Bank has increased its revolving line of credit with Argos Material Distribution to $2.25 million. In addition to the asset-based line of credit to finance accounts receivable, Argos Material Distribution utilizes the full array of Pacific Mercantile Bank's treasury management services.

Based in Chino, Argos Material Distribution distributes construction building materials to regional and local customers with a commitment to building long lasting business relationships and a reputation for focused service. ARGOS provides relevant expertise and an attentive business model that endeavors to exceed customer expectations. ARGOS' executive team's years of expertise, coupled with the company's commitment and integration of modern efficiency technologies, create a customer experience that fosters long-term business partnerships.

"Since choosing Pacific Mercantile as our banking partner in 2014, their team has gone above and beyond our expectations," said Al Jordan, President, Argos Material Distribution. "In addition to providing a flexible credit structure that has supported the strong growth we have seen in our business, Pacific Mercantile's bankers have given us valuable advice that has helped improve many areas of our operations including inventory management and accounting. We are a better, more efficient company today due to the support provided by Pacific Mercantile Bank."

"Argos has seen tremendous growth due to their commitment to providing high quality building materials at competitive prices, and always delivering exceptional customer service," said Tom Vertin, President of Commercial Banking for Pacific Mercantile Bank. "We are very pleased to increase our line of credit to the company and help them with their strong growth opportunities."

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.

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