Affinity Bank
FOR IMMEDIATE RELEASE
January 5, 2001

Affinity Bank Introduces New Construction Loan

Ventura, CA - Affinity Bank is introducing new construction, renovation and rehabilitation loan products to the commercial real estate community. Target projects include multi-use investment properties and tract residential homes. Up to $120 million is available for lending through 2001.

"We can lend up to $5 million per project for a variety of construction," said James Barnett, Affinity Bank’s Loan Vice President National Sales Manager, "everything from single family home tract developments to apartments, office, retail, industrial, and light industrial, including expansion space and renovation.

"These are great loans," Barnett said, "because they’re flexible. We don’t take the standard, rigid off-the-shelf loan approach. Many of us at Affinity Bank have worked on the development side of the business. We see the vision and know the dreams. We also know how projects can change a lot between inception and completion. It can be grueling as a builder or developer to have to work with inflexible loans. So we’ve taken a more individualized approach -- every loan at Affinity Bank is designed to suit the unique needs of the developer or builder’s project."

This approach means you won’t be a "number" in the loan process, according to Barnett. "We’re offering an invaluable blend of experience, personal attention, up front flexibility, and ongoing flexibility over the life of the project. We also offer borrowers the option, at the end of the project, to convert their construction loan to a permanent loan without any further costs. That should save them a lot of money."

For more information about the new construction loan or other Affinity Bank commercial lending products, call Toll Free 888-573-2944. Affinity Bank is a privately-held financial institution headquartered in Ventura, California with more than $360 million in assets. Expected to be at $440 million in assets by March 2001 as a result of a recent acquisition of the Irvine, California branch of First Plus Bank, Affinity Bank offers a variety of commercial loans.

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