Preferred Bank

Preferred Bank provides various banking products and services to small and mid-sized businesses, entrepreneurs, real estate developers, professionals, and high net worth individuals. The company offers a range of deposit accounts, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity retail and non-retail certificates of deposit, and individual retirement accounts. Its lending services include real estate mortgage loans secured by retail, industrial, office, special purpose, and residential single and multi-family properties, along with real estate construction loans. Preferred Bank also provides commercial loans, which encompass lines of credit for working capital, term loans for capital expenditures, and commercial and stand-by letters of credit. Additionally, it offers Small Business Administration (SBA) loans for various business purposes such as owner-occupied commercial real estate, business acquisitions, start-ups, franchise financing, working capital, improvements and renovations, inventory and equipment, and debt-refinancing. The bank's trade finance services include commercial and export letters of credit, import lines of credit, documentary collections, international wire transfers, acceptances/trust receipt financing, export financing, and bills purchase programs. Furthermore, Preferred Bank provides cash management services and internet, mobile, and tablet banking services. The company was incorporated in 1991 and is headquartered in Los Angeles, California.