Small Business Development Corporation of Orange County congratulates Mega Bank, Chairwoman Marina Wang and Julian Fong, President/CEO on its recent designation as a member institution of the California Infrastructure and Economic Development Bank (IBank). We welcome Mega Bank 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.
Mega Bank is a Chinese American bank established in 2008 and headquartered in San Gabriel, CA. The bank operates four banking offices located strategically throughout Los Angeles and Orange Counties. Asset footings (2020) total $380 million with a strong capital base of $42 million.
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. IBank has financed more than $55 billion in infrastructure and economic development projects.
