CommerceWest Bank Announces the Funding of Its First SBA Payroll Protection Program (PPP) Loan

CommerceWest Bank (CWBK) announced the funding of its first Payroll Protection Program loan made available through the recently approved CARES Act. Mr. Ivo Tjan, Chairman and CEO commented, “We are here to help. We are ready and able to assist the local business community during these challenging times. Our team has worked tirelessly to set up this program in preparation for funding loans today. We want our clients and other businesses in Southern California to be able to keep paying their employees during this unprecedented event.”

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CommerceWest Bank Corporate Headquarters (Photo: Business Wire)

CommerceWest Bank is a California based full service commercial bank with a unique vision and culture of focusing exclusively on the business community. Founded in 2001 and headquartered in Irvine, California. The Bank serves businesses throughout the state with an emphasis on clients in Orange County, San Diego, Los Angeles, and Riverside Counties. We are a full service business bank and offer a wide range of commercial banking services, including concierge services, remote deposit solution, online banking, mobile banking, lines of credit, working capital loans, commercial real estate loans, SBA loans, and cash management services.

Mission Statement: CommerceWest Bank will create a complete banking experience for each client, catering to businesses and their specific banking needs, while accommodating our clients and providing them high-quality, low stress and personally tailored banking and financial services.

Please visit www.cwbk.com to learn more about the bank. “BANK ON THE DIFFERENCE”

Statements concerning future performance, developments or events, expectations for growth and income forecasts, and any other guidance on future periods, constitute forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to, loan production, balance sheet management, expanded net interest margin, the ability to control costs and expenses, interest rate changes, financial policies of the United States government and general economic conditions. The Company disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any forward-looking statements contained in this release to reflect future events or developments.

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Bank Contact
CommerceWest Bank
Mr. Ivo A. Tjan, CEO
Ms. Leeann M. Cochran, CFO
Telephone: (949) 251-6959
Facsimile: (949) 251-6957
E-mail: [email protected] or [email protected]
Website: www.cwbk.com