PALO ALTO, Calif.--(BUSINESS WIRE)--
Peninsula
Bank Business Funding (“PBBF”), a division of The Private Bank of
the Peninsula, successfully funded a new line of credit with Network
FOB, which intends to use the new credit facility, up to $4,000,000, for
working capital purposes.
“I am pleased that we were able to put this facility in place for
Network FOB,” said Mike
Hansen, Executive Vice President of PBBF. “They are a leader in
their market and I look forward to being a part of their long-term
success.”
“Adding Network FOB as a client is another significant step as we
continue to expand the work we are doing in corporate finance,” stated Mark
D. Mordell, Chairman of the Board of The Private Bank of the
Peninsula.
Headquartered in Naples, Florida with operations offices in Eagan,
Minnesota, Network FOB provides comprehensive business-to-business
shipping through its agents located throughout the continental United
States, Canada and Mexico. Network, founded in 1971, is equipped to
support all facets of the shipping process for their clients, inclusive
of system and processes, accounting, claims processing, insurance,
marketing and training. With almost 150 industry veterans on staff and
state-of-the art technology, Network FOB is a true-leader in the
transportation industry. (networkfob.com)
“PBBF understood what we are trying to build here and structured a
facility that will truly help us expand our business,” said Tim Taylor,
President of Network FOB.
About PBBF
A division of The Private Bank of the Peninsula, PBBF provides
asset-based lending products to emerging growth and venture-backed
companies throughout the United States.
About the Bank
The Private Bank of the Peninsula, a subsidiary of Peninsula Bank
Holding Co. (OTCBB:PBKH), is headquartered in Palo Alto, California. The
Private Bank focuses on the banking needs of businesses and individuals
primarily in the Greater San Francisco Bay Area. The Bank provides
personalized, relationship-based service, giving clientele access to
senior level decision-makers. The Bank specializes in the following
markets: commercial & industrial, asset based, real estate construction,
commercial real estate, and real estate bridge financing.
Source: The Private Bank of the Peninsula
Contact:
The Private Bank of the Peninsula
Steve Leen, 650-843-2204 (Chief
Financial Officer)