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Business

Pacific Premier Bank Gets High Rating From USDA

At Pacific Premier Bank, one of the guiding principles involves an immersion and enduring connection with the communities it serves, the bank said.

"When this commitment to our communities results in official accolades, we become even more assured and confident in our mission," the bank said. "We’re also grateful for the opportunity to make a real difference, in real lives and businesses."

The rural development division of the U.S. Department of Agriculture (USDA) recently announced that it guaranteed 407 loans for a total of $1.4 billion to rural business lenders across the country in 2017.

In California, where agriculture development and operation (along with the ongoing 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, Pacific Premier Bank said.

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.

Pacific Premier's backing of the USDA Business & Industry Loan Guarantee Program plays a vital role in the realization of so many rural dreams today, the bank said.

As USDA Rural Development stated in 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," the bank said.

— Ondar Tarlow for Pacific Premier Bank.

 

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