Discovery Valley Opening Commercial Loan Office

POWAY, CA-Discovery Valley Bank will open a loan production office here during the first quarter of 2003.

The year-old bank leased a1,500-sf former Wells Fargo location in a Von’s-anchored retail center at 13436 Poway Rd., near the corner of Community and Poway Roads. Bank President and CEO Jim Kelley tells GlobeSt.com the new office will offer commercial real estate, accounts receivable, equipment financing, leases, lines of credit and SBA loans.

The Poway location will be Discovery Valley Bank’s second location. Its main office is in San Marcos. Kelley says the bank was launched by former bank executives who raised $8 million in capital. He says more than 50% of the bank’s lending is real estate related.