California Bank of Commerce Provides $4MM Credit Facility with Porcelain Wholesale Reseller

California Bank of Commerce (CBC) announces the completion of a $4 million asset-based revolving credit facility with a wholesale reseller of porcelain cookware and dinnerware. CBC was initially engaged as the business sought to establish a relationship with an Asset Based Lender better suited to help it navigate its current credit needs and future plans. The credit facility will be used to pay off an existing facility with an incumbent lender and to support accounts receivable and inventory.

The Northern-California based company was founded in the 1950s, at a time when many kitchen tools used in gourmet cooking were unavailable in the U.S. The company’s French founder sought to bring the best of French ovenproof porcelain, traditional tin‐lined copper cookware, professional bakeware, cutlery and many other kitchen necessities to the U.S. West Coast.

Today, the business continues to grow, serving the gourmet marketplace and foodservice industry with a comprehensive selection of porcelain and ceramic cookware, as well as kitchen tools and gadgets.

About California Bank of Commerce

California Bank of Commerce offers a broad range of commercial banking services to closely held businesses and professionals located throughout Northern California. The stock of its parent company, California BanCorp, trades on the Nasdaq Global Select Market under the symbol CALB. For more information on California BanCorp and California Bank of Commerce, call us at (510) 457-3751, or visit us at www.californiabankofcommerce.com.