Pacific Mercantile Bank increased its existing multi-million dollar credit facility with K1 Speed by 50%. The expanded credit facility is being utilized by K1 Speed to open four new indoor kart-racing locations around the country.

K1 Speed is a karting company with 35 locations across the country, which utilizes European electric karts and indoor asphalt tracks.

“Since establishing a relationship with Pacific Mercantile Bank in 2013, they have done everything we could ask from a financial partner to support our growth,” said David Danglard, CEO of K1 Speed.

Pacific Mercantile Bank is FDIC insured and a member of the Federal Reserve System. The Orange County, CA-based bank provides commercial banking services to businesses, business owners and business professionals through its combination of traditional banking offices and electronic banking services.