SOURCE: Security Pacific Bank

March 22, 2007 09:00 ET

Security Pacific Bank Announces New Smart Loan Program

Don Sonsma Heads New Division

LOS ANGELES, CA -- (MARKET WIRE) -- March 22, 2007 -- Security Pacific Bank has announced the introduction of a new commercial real estate loan program called Smart Loans, focusing on $250,000 to $1,500,000 transactions.

With accelerated closing capabilities, no appraisal and environmental fees and a broad range of terms, the new program is targeting a burdgening segment of the marketplace seeking smaller financings for income properties.

Security Pacific's Senior Vice President, Philip Powers, also announced the creation of a new lending division, dedicated to the Smart Loan Program, to be headed up by Don Sonsma, a respected lending professional with over 25 years experience in small commercial loans.

"Don Sonsma brings an extraordinary, career-long history of helping investors secure commercial real estate loans," Powers explained. "He, and his team, will be a tremendous asset to our efforts as we roll-out the program via loan brokers and investors."

Sonsma can be reached at 888-634-6174, or by email at

Security Pacific Bank has offices in Los Angeles, West Los Angeles, Orange County and in the Inland Empire. The bank provides loans up to $20 million on a broad spectrum of commercial real estate projects, including 3- to 5-year fixed rate multi-family, floating rate bridge and construction loans and leveraged, subordinate financing.

Contact Information

  • Editors Note: For more information or to arrange interviews with Security
    Pacific Bank executives, contact:
    Scott Regberg
    (310) 475-5735