Pacific Mercantile Bank provided a $4 million credit facility, consisting of a revolving line of credit and commercial term loan, to SynergEyes.
In addition to the financing, SynergEyes will utilize a full suite of Pacific Mercantile Bank’s depository products and treasury management services.
SynergEyes is an advanced technology specialty contact lens company focused on independent eye care professionals. It provides over 10,000 eye care professionals products that deliver exceptional vision to their patients across the globe.
“We have seen significant growth in our business as we have executed on our strategy to expand SynergEyes from a hybrid contact lens company to a specialty contact lens company,” said Carolyn M. Maduza, chief financial officer of SynergEyes. “As we continue to expand the business and add to our new line of daily disposable lenses, we looked for a new banking partner that could support our growth. Pacific Mercantile Bank demonstrated a strong understanding of our business model and was able to provide a customized credit facility that will enable us to pursue the growth opportunities we have in new lines of business and additional markets within the eye care industry.”
“SynergEyes has built a strong position in the eye care market by offering specialty contact lens technologies that weren’t previously available in a daily disposable contact lens,” said Jeremy Schmidt, vice president and senior portfolio manager at Pacific Mercantile. “We look forward to being a strategic partner to SynergEyes and helping the company achieve its long-term financial goals.”
Founded in 1999 and headquartered in Orange County, CA, Pacific Mercantile Bank provides a wide range of commercial banking services to businesses, business professionals and individual clients. It has seven locations in Southern California, located in Orange, Los Angeles, San Diego and San Bernardino counties.
