Small Business Development Corporation of Orange County congratulates Nano Banc on its recent designation as a member institution of the California Infrastructure and Economic Development Bank (IBank). We welcome them 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 is dependent upon such resources. The involvement of community lenders in IBank’s programs is paramount to the success of small businesses and nonprofits, which in turn supports the state’s economy. It’s a win-win scenario for all involved.
Headquartered in Irvine, CA., Nano Banc is a two-year-old $1 billion regional commercial banking institution meeting the needs of businesses across Orange, Riverside and Los Angeles counties. “Nano Banc is honored to be accepted as a member institution of IBank. We look forward to leveraging our membership to continue our support of small business growth in California,” said Mark Troncale, Nano Banc President.
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. Its multiple programs include those 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.
