Pacific Mercantile Bank extended $4.7 million in financing to Superior Pavement Markings. The financing consists of an equipment loan, a revolving line of credit and an owner-occupied commercial real estate loan originated under the California State Small Business Loan Guarantee Program.
Headquartered in Ontario, CA, Superior Pavement Markings is a full service striping company offering various pavement marking and removal operations. The company’s clients consist of cities, counties, paving contractors and developers throughout California.
“As California devotes more funding to infrastructure, we are seeing strong demand for our striping services,” said John Lucas, president of Superior Pavement Markings. “We were impressed with Pacific Mercantile Bank’s resourcefulness in developing a financing solution that supports our expansion plans. With the financing provided by Pacific Mercantile, we have the flexibility to invest in the equipment and facilities that will enable us to continue growing the company in the years ahead.”
“With our experience in the specialized transportation construction industry, we were able to quickly understand Superior Pavement Markings’ business model and recognize the strong growth opportunities they have in California,” said Mark Martinez, SVP and regional manager, Ontario Region at Pacific Mercantile. “We were pleased to develop a customized credit facility to support their working capital needs.”
