LYCOS RETRIEVER 
Bridge: Bridge Bank
built 614 days ago
"At Bridge Bank, I was handed a rare opportunity to build an international banking platform from the ground up," said Ms. Kao. "Bridge Bank's commitment to providing the best international banking solutions to its business clients is significant and will help those clients who depend on overseas sales to stay ahead in an increasingly competitive marketplace."
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"Bridge loans are short-term funds that "bridge" the gap between today's need for immediate cash to pay bills and the final closing of a pending investment deal or long-term financing package. Firm owners can go to banks for such a loan if they have a solid cash-flow position and the bank feels comfortable with the level of monthly sales as sufficient to support the loan for 60, 90 or 120 days. The bridge can ... be provided by a factor, a firm that agrees to provide front-end cash on specific accounts receivable that meet certain credit requirements on the part of the payer. The factor will typically provide 50 to 70 percent of the face value of the invoices upfront, and the balance of the funds will be paid to the entrepreneur at the collection date on the receivables. However, the factor takes a hefty fee or interest charge for this bridge."
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SAN JOSE, Calif., Dec. 20 /PRNewswire/ -- ST. JOHN'S CAPITAL GROUP, the premier financier of undervalued real-estate, announced today that it has received a $1MM credit facility from Bridge Bank (Nasdaq: BBNK). This is following the series A equity financing St. John's Capital received in April from Ligenh Ventures and other Asian investors. The company plans to grow its business by acquiring high yield (cap 8.5 or above) income producing properties, in stable markets least affected by the current turmoil, and continues to locate and fund real-estate operating startup companies.
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"Since joining the bank two years ago, Jeannie has built out a complete platform of international banking products and services for our clients," said Timothy W. Boothe, Executive Vice President and Chief Operating Officer of Bridge Bank. "Bridge Bank can now compete for all aspects of a company's banking and cash management relationship, including international funds transfers, foreign exchange services, and Export-Import financing."
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