Pacific Mercantile Bank Provides $2.3 Million in Financing to Direct Edge Media
COSTA MESA, CA — December 15, 2016 — Pacific Mercantile Bank, the wholly owned subsidiary of Pacific Mercantile Bancorp, extended $2.3 million in financing to Direct Edge Media consisting of a $1.7 million term loan for acquisition financing and $600,000 in equipment financing. In addition to the financing, Direct Edge Media will utilize a full suite of Pacific Mercantile Bank's cash management services.
Based in Orange, Calif., Direct Edge Media, Inc. is a full service print media shop offering high-end graphic design services and all types of printing services from digital to large format, along with fulfillment and mail house services. Over the past 15 years, Direct Edge Media has become one of the largest print companies in Southern California working with a broad customer base including corporations, non-profits, advertising agencies, and graphic designers. In March 2016, Direct Edge Media completed the acquisition of Great Big Color, a large- and grand-format printing company based in Denver, Colo. which advanced the company's goal to develop a nationwide production footprint to better serve its clients.
"We were not happy with our prior relationships with larger national and regional banks," says Ryan Brueckner, CEO of Direct Edge Media. "We have built Direct Edge Media by exceeding our clients' expectations and providing them with expertise that enables their businesses to succeed, and we were looking for a banking partner that could do the same for us. We felt very comfortable with Pacific Mercantile Bank, their commitment to understanding our business, and their ability to support our financial needs as we continue to grow our business."
"Direct Edge Media has built a sterling reputation for industry leading quality and proprietary client solutions with innovative graphic design, printing and fulfillment," says Tom Vertin, President and Chief Executive Officer of Pacific Mercantile Bank. "With the recent expansion of its production capacity and capabilities, Direct Edge Media is entering an exciting new phase of growth, and we look forward to helping the company continue to build its franchise."
Source: Pacific Mercantile Bank