Pacific Premier Ranked #2 Among All California Rural Development Business Lenders
January 1, 2018
IRVINE, California (January, 2018) – At Pacific Premier Bank, one of our core guiding principles involves a deep immersion and enduring connection with the communities we serve.
When this commitment to our communities results in official accolades, we become even more assured and confident in our mission. We’re also grateful for the opportunity to make a real difference – in real lives and businesses.
The Rural Development division of the United States Department of Agriculture (USDA) recently announced that they guaranteed 407 loans for a total of $1.4 billion to rural business lenders across the United States in 2017. In California, where agriculture development and operation (along with the ever-present threat of natural disasters) remains a vital part of everyday life in many communities, USDA Rural Development guaranteed 23 business loans for a combined $67 million. This figure placed California in the top five in the nation for the Business & Industrial Loan Guarantee Program.
Pacific Premier Bank secured its own top-five ranking in 2017, coming in second overall in the entire state of California in terms of total dollars in guaranteed USDA Rural Development business loans.
Our backing of the USDA Business & Industry Loan Guarantee Program plays a vital role in the realization of so many rural dreams today.
As USDA Rural Development stated in their notification announcing the 2017 totals and rankings:
“We know the success of the program comes from the lenders who are funding California’s rural businesses, and giving them the resources to grow, thrive and succeed*.”
The success, confidence, and outreach of our USDA Business & Industrial Guaranteed Loan division is just one of the ways we demonstrate that for us, community involvement and service is so much more than mere talk. We look forward to enjoying continued success with our partners and clients in all our California communities in 2018 – and beyond.
*USDA Rural Development. January 2017.