Small Business Development Corporation of Orange County congratulates EverTrust Bank on its recent designation as a member institution of the California Infrastructure and Economic Development Bank (IBank). We welcome EverTrust to the family of lenders who are able to make a significant difference within the small business community by offering IBank’s capital access programs to companies whose growth and sustainability is dependent upon such resources.
EverTrust Bank, a subsidiary of O-Bank is headquartered in Pasadena, CA. The bank’s asset footings (2018) totaled $887 million operating eight branches throughout Santa Clara, Los Angeles and Orange counties. Established in 1995, the bank was organized by a group of overseas Chinese bankers and entrepreneurs. The bank prides itself as a community development lender focusing on commerical and industrial lending, trade finance, commercial real estate and construction loans.
The IBank was created by the state legislature in 1994 to finance public infrastructure and private development that promote a healthy climate for jobs, contribute to a strong economy and improve the quality of life in California communities. It is a self-supporting entity financed through service fees and interest earnings. Programs include those administered through its Small Business Finance Center, namely the Jump Start Loan Program, Small Business Loan Guarantee Program, Farm Loan Program and the California Disaster Relief Loan Guarantee Program. As of October 2019, IBank had financed more than $55 billion in infrastructure and economic development projects.
