Orange County, Calif.-based Pacific Mercantile Bank has launched a solar and renewable energy lending group, which the firm says will offer specialized financing to companies engaged in renewable energy projects across the U.S.
The new lending group will be led by Scott Reising, who previously served as senior vice president and group head of the renewable resources group at Bridge Bank, a division of Western Alliance Bank.
“Renewable energy financing is an excellent fit with our commercial banking platform,” said Tom Vertin, president and CEO of Pacific Mercantile Bank. “We specialize in developing the type of customized, flexible financing solutions required for small-scale renewable energy commercial projects. Capitalizing on the strong demand for renewable energy financing will provide another catalyst for growing our commercial loan portfolio in the years ahead.”
The bank operates a total of nine offices in Southern California – specifically, Orange, Los Angeles, San Diego and San Bernardino counties.