Heritage Bank of Commerce, a subsidiary of Heritage Commerce, plans to expand its national specialty finance group, which consists of the Bay View Funding national factoring business and the bank’s national asset-based lending/corporate finance team and regional Small Business Administration lending team in the San Francisco Bay Area.
The bank’s specialty finance group is structured to focus on and serve a variety of clients who need alternative loan products. The group funds privately held, microcap, venture-backed, private equity supported and publicly traded companies across the United States.
“These companies are often uniquely poised for substantial growth and need flexible sources of working capital to expand their operations,” Glen Shu, executive vice president at Heritage Bank of Commerce and president of the specialty lending group, said. “We have a highly experienced, dedicated team who are actively implementing our national strategy for both our ABL and factoring services. We are optimistic about an improving economy as we emerge from this pandemic and look forward to working with new growth minded entrepreneurs who will need our specialized services.
“Our ABL team provides financing solutions for working capital and refinancing of existing business debt for emerging growth companies. Lending products include revolving lines of credit and term loan financing. We also have a tenured SBA lending group that offers personalized, proven expertise and flexible loan products. Working with the SBA, we offer lending solutions that typically have longer terms and lower down payment requirements than what are available with traditional commercial loans.”
Heritage Bank of Commerce is a SBA Preferred Lender. Bay View Funding is a wholly-owned subsidiary of Heritage Bank of Commerce.
