Monday, May 23, 2022

Friendly Hills Bancorp forms truck lending group

Friendly Hills Bancorp in Whittier, Calif., has created a specialty lending group focused on financing commercial trucks and vehicles. 

The parent of the $292 million-asset Friendly Hills Bank said in a press release Monday that its truck lending group will provide capital for buying or refinancing on-road medium duty and heavy duty vehicles. 

The division will provide direct funding, including grants from the California Air Resources Board and support under the California Capital Access Program. The group is accepting credit applications for up to $250,000. 

Marc Merino joined the company as director of specialty lending. 

The new group “represents a significant step in Friendly Hills Bank’s strategic plans to better serve California’s underserved market and make a lasting impact on the community,” Nathan Rogge, the company’s president and CEO, said in the release.

"Our new line of business is just one of our many areas of expertise and we look forward to better serving the banking needs of small [and midsize] businesses throughout Southern California,” Rogge added.

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