Category Archives: Clients

Patricia Parc: Financing an exciting new rental community

Simi Valley is on track to get 65 much-needed, new rental units, and we’re part of the team making it happen.

Chris Itule, principal of Itule Real Estate Group partnered with Norman Doerges and Randall Gustafson of Aurora Development Company and long-time Grandpoint Bank clients Adrian Stern and Larry Clumeck of Clumeck Stern Schenkelberg & Getzoff, to form 1196 Patricia Avenue Association.

Having earned approval to develop the property, the development team held a groundbreaking ceremony on November 1, where representatives from our bank were on hand to lend support and help celebrate this exciting milestone.

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(l to r) Larry Clumeck, Randy Gustafson, Simi Valley Mayor Bob Huber, Chris Itule and Adrian Stern

With help from our Construction Lending division, bankers in our Encino office were able to provide the construction loan for the project, known as Patricia Parc. The 24-month, interest only loan with a six-month extension option gives the developers time to complete the project before converting to a permanent phase at completion.

“It’s really exciting to work with developers from vision to finished product, literally seeing your work take form,” said Arlet Hur, Senior Vice President at Grandpoint Bank. “This development team really seems to know its target customer and understand the critical need for rental housing in Simi Valley.”

With Simi Valley’s median home prices ranging upwards of $600,000, many people, especially Millennials, face significant financial hurdles to home ownership. High quality rental properties are in great demand.

The three-story Patricia Parc community will offer one- and two-bedroom units and many amenities popular with Millennials. Those include electric vehicle charging stations, free Wi-Fi, bike lockers, a pool and gym, an outdoor kitchen, access to the Arroyo Simi Greenway and a dedicated rideshare drop-off and pickup area, among others. Patricia Parc is located less than one mile from Simi Valley Town Center and less than five miles from the Simi Valley Metrolink Center.

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Five of the units will be designated as affordable for very-low-income tenants, and at least seven units will be handicapped accessible. Project completion is estimated for late fall or winter of 2018. 1196 Patricia Avenue Association has selected McCarthy Companies to construct Patricia Parc.

We’re eager to watch this exciting project take form and to help facilitate new housing options for members of our community.

For more information about construction lending through Grandpoint Bank, please visit the products and services page of our website at grandpointbank.com/product-and-services-commercial-banking-credit-and-financing.

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Moving Mountains for an Organization that Builds Bridges

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When parents can find quality, affordable childcare, it can literally change their lives. No one knows that better in the Los Angeles and San Bernardino area than Child Care Resource Center (CCRC). The organization builds bridges between local families and the services they need.

We are proud to be an integral part of CCRC’s recent purchase of a building in the Antelope Valley. We attended the ribbon cutting on September 27th and celebrated CCRC’s purchase of 250 Grand Cypress Avenue in Palmdale with the CCRC staff and other community supporters. CCRC was already leasing the building to house some of its administrative functions, and watching them transition to owning the building was tremendously rewarding.

Using Municipal Bond financing, CCRC secured a loan through Grandpoint Bank to buy the building and ensure that more than 70 members of its staff could remain at that location. This seamless transition in location means nothing will interrupt their good work to provide child care financial assistance, training, technical assistance and other workforce development opportunities. The CCRC staff at this location also work with the Palmdale School District to offer Head Start preschool and wraparound services.

By using this unique loan structure and transitioning to mortgage payments rather than lease payments, CCRC will reduce its costs. Any boost to the bottom line means an already phenomenal agency can provide even more help to tens of thousands of families each month, such as securing childcare referrals, sending parents back to work, reducing childhood obesity and generally supporting the welfare of children throughout Northern Los Angeles and San Bernardino counties.

“CCRC had some special loan requirements, so we all moved mountains to make sure the organization could rely on Grandpoint to support the type of loan that would best suit the long-term sustainability of the organization and to provide the banking services it needed,” said Arlet Hur, Senior Vice President at Grandpoint Bank.

Grandpoint and its divisions work with many non-profit organizations throughout Southern California, Arizona and Western Washington.

“We genuinely love working with non-profit organizations, and we’ve tailored a lot of our services specifically to them, including our non-profit money market account,” Arlet added.

Founded in 1976, CCRC services a 22,500-square-mile area and provides tens of thousands of child care referrals each year. The organization maintains a book/toy/resource lending library; offers programs for combatting obesity; provides preschool education, meals and medical and vision exams for kids; offers training to help childcare providers, other non-profits and families; promotes literacy through various programs; and even provides gifts for kids who may not otherwise receive any.

To learn more about how you can support CCRC and its wonderful programs, visit its website at ccrcca.org.screen-shot-2016-09-13-at-11-07-51-am

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Building a packaging industry leader around an out-of-the-box idea

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Working in banking provides a unique opportunity to learn about many, diverse businesses that help power regional and even national economies. Our client U.S. Merchants Financial Group and Diversified Repackaging (USM), which operates from a corporate office located in Beverly Hills, Calif., and five manufacturing, packaging and distribution facilities throughout North America, is a great example.

USM creates something almost everyone has seen but which most of us take for granted since it has become such a ubiquitous part of the warehouse club and “big box” shopping experience. Think Costco®, Sam’s Club®, B.J.’s® Wholesale Clubs, Walmart® and Target®.

USM pioneered and patented the Pallet Program system in which popular consumer products are packaged and presented for sale on stacked pallets. The store simply removes the exterior wrap, and the product is ready to be merchandised. Beyond the ingenuity of creating this streamlined packaging model, USM’s success was forged in part because the company offers customers a turnkey solution that includes everything from package and graphic design to manufacturing and distribution. This enables them to offer clients a consistently superior level of quality and service, and to remove the worry of managing a multi-company supply chain. Over the years, the company has built strong relationships with retail buyers and executives, who rely upon USM owners Jeff and Marie Green not only for services, but also for advice about nearly every aspect of retailing, packaging and distribution. The Greens also consider manufacturers and warehouse club members as important stakeholders in the success of their business.

In addition to its Pallet Program, the company also manufactures a popular line of plastic consumer storage containers under the Greenmade™ brand name that are sold at major retailers across the United States.

When Jeff and Marie founded USM in 1983, they built the business upon strong customer relationships and exacting standards of quality and integrity. It’s an approach shared by Grandpoint Bank and Jocelyn Pastore, Regional President, who oversees the bank’s Los Angeles region.

The Greens began banking with Grandpoint in 2010. Grandpoint has provided financing for the Greens and their business ever since. The flexible financing offered by Jocelyn and the Grandpoint team has helped the Greens advance their personal and business goals and propagate the “Jeff Green Standard” — a high standard of design, manufacturing and delivery of products to USM’s retail customers. Facilities are immaculate, with meticulous attention to quality and detail that fuels a thriving and expanding operation. The Greens apply this high standard to all that they do, including the management of their personal and business real estate assets.

As successful, self-made business owners, Jeff and Marie are committed to their employees. When it was time to expand their Ontario, Calif. operations, they chose to remain in the community in order to retain the employees who work at that location. In late 2015, Grandpoint provided the financing for the plant expansion at USM’s Ontario location, helping them to add to their 270,000 square-foot operations by purchasing a second, 182,000-square-foot building.

We’re proud to work with the Greens and so many other local business people who are providing products, resources and employment opportunities to our communities.

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Grandpoint Bank Makes $500,000 Equity Investment in Clearinghouse CDFI

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As a community-focused bank, we are committed to helping build strong, stable businesses that create jobs, provide services and support healthy communities. In keeping with that mission, Grandpoint Bank has made a $500,000 equity investment in the Clearinghouse Community Development Financial Institution (Clearinghouse CDFIscreen-shot-2016-09-13-at-11-07-51-am). This investment will help Clearinghouse CDFI continue to provide community development lending in underserved communities in Southern California and Arizona.

“CDFI has the expertise and experience to identify critical needs in low-income and distressed communities and to create responsive and innovative solutions that make a real difference in people’s lives,” says Darlene Esquerra, Senior Vice President and Community Development Officer. “This relationship made perfect sense for Grandpoint, since Clearinghouse CDFI offers economic opportunities in so many of the same markets that we serve. Our investment will benefit these communities while supporting our overall community outreach program.”

Grandpoint Bank and 49 other financial institutions are “impact partners” whose investments increase Clearinghouse CDFI’s capacity to continue meeting unmet credit needs. At September 30, 2016, the institution had total assets of $339 million under management.

“We are thrilled to welcome Grandpoint Bank to our list of strong community partners,” said Douglas Bystry, Clearinghouse CDFI President and CEO. “We appreciate their significant investment in Clearinghouse CDFI and their mutual commitment to revitalizing our local communities.”

Over the course of 20 years, Clearinghouse CDFI has funded $1.4 billion in loans for over 1,780 projects, which have created or retained more than 16,000 jobs and benefit over 1.4 million individuals.

“This partnership is exciting, and it is a perfect fit with our bank’s community reinvestment act (CRA) strategy to give back to our communities in ways that are truly meaningful,” says Cynthia Mendoza, Senior Vice President and Compliance & CRA Officer.

Recipients of Clearinghouse CDFI financing include community facilities, affordable housing, commercial real estate, and small businesses. Additionally, Clearinghouse CDFI is one of largest participants in the New Market Tax Credit (NMTC) Program, with over $473 million of NMTC allocation deployed throughout California and Nevada. The NMTC Program helps economically distressed communities attract private capital by providing a Federal tax credit to investors.

Visit the Clearinghouse CDFI website here.screen-shot-2016-09-13-at-11-07-51-am

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Abramson Teiger Architects’ Haute Feline Design

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Abramson Teiger’s winning design

Congratulations to our client, Abramson Teiger Architects,↗ for winning fan favorite and the associated bragging rights at this year’s Architects for Animals↗ “Giving Shelter” benefit for FixNation.↗

Abramson Teiger’s entry, its second in two years of participation with Architects for Animals, was the product of an inner-office competition that turned into a team building exercise and turned out a very cool-looking cat abode.

Twelve prominent Los Angeles-area architecture firms designed and constructed high-design structures for outdoor cats, which were displayed before a sold-out crowd at the Herman Miller showroom in Los Angeles.

This year’s teams included: Abramson Teiger Architects; CallisonRTKL; DSH // architecture; the team of Formation Association, Arktura, BuroHappold; HOK; Knowhow Shop; Lehrer Architects; Perkins and Will; RNL; Pfeiffer Partners Architects; Standard Architecture | Design; and the team of Warren Office + Schmidt Designs.

Each firm donated its structure to FixNation after the event to eventually be placed in an area of the city that is home to a feral cat colony. FixNation has established a model for trap-neuter-return and cat population management utilized across the country.

Kudos to Abramson Teiger Architects for helping to support such a wonderful cause and for the firm’s continued success.

We’re proud to have maintained a banking relationship with Abramson Teiger since its inception in 2000, when the now-25-person firm included just five members. The firm grew steadily over the years as residential clients wanted the same design panache for their places of business. They gradually diversified from residential into multiple disciplines.

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Doug Teiger, AIA

Firm principal Doug Teiger tells us they’re excited about their newest project to debut, Platform,↗ at the intersection of Washington and National in Culver City, which, incidentally, is also the firm’s hometown. Platform is a 200,000-square-foot retail center, and Abramson Teiger provided architecture for the development, as well as for each store in the center.

The firm is also taking on several other Culver City projects, including a mixed-use project that just began design phase.

Teiger describes the firm’s design style as modern and human-focused, with an eye toward creating delightful experiences that evoke a sense of balance, curiosity and joy.

The firm just received another honor when its recently-launched interior design department, led by Janice Francois and Kate Balfour, was invited to be one of 60 designers from across the country and around the world to present a window at La Cienega Design Quarter’s↗ Legends event. Abramson Teiger was paired with Natural Curiosities,↗ an art gallery, so its designers expanded a small portion of a painting displayed at the store into an eight by ten foot window backdrop and then themed the displayed furniture accordingly.

Abramson Teiger also participates with Spark,↗ an organization that arranges apprenticeships for at-risk, low-income middle school students to match their professional interests. The firm has mentored two Spark kids each semester, and the staff was thrilled to learn that one of their mentees from six years ago was just accepted to the prestigious Brown University. Marco Marraccini, an associate principal at Abramson Teiger, even serves on the advisory board of Spark.

Teiger says his company likes to push design forward; to be bold and sophisticated and to elevate the human soul. We think this philosophy reaches beyond just their designs. Abramson Teiger is clearly a company that is making a difference to our cities as well as to the humans and creatures inhabiting them.

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Mychal’s Learning Place – Seeing Opportunity in Developmental Challenges

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When Grandpoint Bank’s Senior Vice President Ed Myska was asked to be on the board of Mychal’s Learning Place↗, he thought, ‘oh no, not another board position.’ Three years of board membership later, Ed raves about the work, leadership and vision of Mychal’s, as well as its founder, Ed Lynch, whom he credits and jokingly blames for convincing him to join the board.

Ed Myska says Mychal’s Learning Place has a fantastic, cohesive board that really cares about the students who are served and a skilled leader in board chair Suzanne Curtin. “I had a vision to start Mychal’s,” said Ed Lynch, “but you have to surround yourself with people who can make it happen.”

Ed Lynch founded Mychal’s Learning Place after losing his daughter, Mychal, who had physical and developmental challenges. Mychal was the light of Ed’s life, but one thing he could not give her was a program where she could have access to the same friendships, skills development and independence that so many people take for granted. Sadly, Ed never found somewhere he was comfortable leaving Mychal to spend time.

After Mychal passed, Ed devoted his life’s work to creating a place where individuals with developmental disabilities could fit in; a place that’s nurturing and caring and doesn’t see the disability. Now with two locations and more than 100 individuals enrolled in the learning centers’ programs, Mychal’s Learning Place has a sizable waiting list for its services. While the will and vision exist to offer resources to everyone, the organization is hampered only by the lack of funding necessary to expand.

“We receive 60 percent of our funding from the State of California,” said Ed Lynch, “but the rest comes from donors and our fundraising events.”

Next up for Mychal’s fundraiser events is the annual poker tournament↗ on the evening of October 17. Anyone can participate in the tournament, which is held at Mychal’s Hawthorne facility and is expected to attract approximately 80 to 90 players trying to outwit and outplay each other for a good cause. Mychal’s Learning Place art show↗ on December 5 is another popular fundraiser.

kitty-perch-logoWhile the kindness of friends and strangers is tremendously important to rounding out the Mychal’s Learning Place budget, Ed Lynch and his board got creative in finding a way to generate additional revenue for the organization while also helping to fulfill part of its mission: to teach useful life skills to the students enrolled in its programs. This is how Kitty Perch↗ was born.

After securing help from a professional designer who volunteered his time to refine the design of Kitty Perch and securing donations for plywood and carpet, Mychal’s Learning Place was able to integrate Kitty Perch – a double-platform climbing and clawing structure for cats – into its life skills classes. Students at Mychal’s learn a marketable skill in constructing and packaging the Kitty Perches, and the revenues help fund programs at Mychal’s.

People living in the Los Angeles environs might want to follow Mychal’s Learning Place’s Facebook page↗ to be among the first to see and track the soon-to-debut mobile coffee cart – made from a transformed VW bus. The coffee cart, which will travel to farmer’s markets, festivals, parks and more, will be staffed by two shifts of developmentally-challenged students from Mychal’s Learning Center, seven days a week, creating eight to 14 jobs.

The Mychal’s Learning Place founder envisions a world where developmentally disabled people are fully integrated into the community and workforce. At Mychal’s Learning Place, students ranging from school age to 30 learn useful life and employment skills like cooking, shopping, navigating transportation systems, managing finances, computing and more. Students even have access to job placement services.

A parent of one of Mychal’s Learning Place’s students supplied the following testimonial:

“All of these activities are doors that have opened to my son that are normally closed to special needs kids. What is even better, his mom and dad aren’t taking him to all of these places and hovering over him, which gives him the sense of independence teens of any ability crave and need.”

Services at Mychal’s Learning Place are provided free of charge to the students. “Probably 80 to 90 percent of our students’ families wouldn’t be able to afford these services,” said Ed Lynch. “It’s so important for all of our students to have access to our program, because too many developmentally-challenged people just sit in front of the television for lack of other resources instead of having the chance to become the independent people they want to and can be.”

With help from a Grandpoint Bank loan, Mychal’s Learning Place has a permanent 10,000-square-foot facility↗ in Hawthorne, complete with a gym, music room, art studio, kitchen and more. Ed Lynch and his board hope to find a permanent home for their Culver City facility as well, which is currently housed in space rented from a church.

Both Eds feel like their work with Mychal’s is “incredibly gratifying.” Ed Lynch says that he and his board are committed to solidifying the legacy of the Mychal’s Learning Place family and making sure it’s available to many generations of students to come.

As for our Ed Myska, well, he says that when it comes to fundraising and board member recruitment, he’s good at getting people to say yes.

If you want to make the Eds’ jobs a bit easier, you can find out how to donate or get involved with Mychal’s Learning Place here.↗

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ONEgeneration – Meeting the Needs of Our Community’s Children and Seniors

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You can help by shopping at the Encino Farmer’s Market (and More!)

Longtime Grandpoint Bank client ONEgeneration is transforming the lives of children and seniors in the West San Fernando Valley area of Los Angeles by connecting them in ways that teach compassion and provide purpose. ONEgeneration’s unique, intergenerational programming combines a daycare serving approximately 100 children from six weeks to six years old and an adult day center under one roof. For part of the day, the preschoolers work on tasks and projects with the seniors, and the seniors can come into the nursery to rock or play with the babies.

“For the children, this interaction teaches them compassion and about differences at an early age,” said Jennifer Davine, Director of Community Relations and Fund Development at ONEgeneration. “For our seniors, many of whom have a brain-impairing condition or other difficulties, interacting with the children makes them smile with joy while giving them a sense of purpose and of being needed.”

ONEgeneration also maintains a Senior Center further on Victory Boulevard for active seniors who want a place to gather and socialize. They can choose from a variety of health promotion and disease prevention classes, yoga and dance classes, as well as educational programs about fraud and scams targeting seniors, Medicare, and other important current issues. Many also come to the center for a hot lunch, which is donation-based and free to those who cannot afford to pay. ONEgeneration also serves these hot lunches at three different sites in our area and for 220 homebound adults.

Although some funding is provided by the City of Los Angeles Department of Aging, ONEgeneration’s ability to provide these many services relies on grants, sponsorships and donations, as well as proceeds from the Encino Farmer’s Market. The brainchild of former ONE Generation board member, the late Harry Vickman, the year-round Encino Farmer’s Market↗  donates a portion of its proceeds each week to support ONEgeneration and its programs. The popular market, open every Sunday from 8 a.m. to 1 p.m., just celebrated its 20th anniversary and features food from over 30 farms from all over central and southern California.

Arlet Hur, who manages Grandpoint Bank’s relationship with ONEgeneration, has led the charge in garnering sponsorship support from our bank for ONEgeneration. She also works with their staff to provide the banking and credit support they need to keep their organization moving forward.

“ONEgeneration does a lot for our community, and people can help them by spreading the word about their services to seniors and to their caregivers, to farmer’s market fans and to anyone who might be able to support the organization through volunteer services or financial donations,” said Arlet.

The ONEgeneration intergenerational model is a forward-thinking approach to meeting the needs of the community’s young and elderly and providing a way for them to help each other. Furthermore, ONEgeneration is the only organization providing free services for seniors in this part of the San Fernando Valley. We are proud to do business with and to support ONEgeneration.

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Never Give Up On A Child – The Good Work of Child Development Institute

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Passing the 20-year mark is a milestone for any business, especially a nonprofit. Child Development Institute’s↗ (CDI) 20th anniversary this year is an especially big milestone for the thousands of San Fernando Valley-area families who have benefited from CDI’s relationship-based early intervention and therapeutic services for children and their families. Grandpoint Bank and its staff have maintained relationships with CDI over the 20 years of this organization’s important work, and our Senior Vice President Arlet Hur, who works in our Encino office, is a strong supporter and CDI board member.

Arlet was particularly impressed with CDI because she has several family members who have been challenged with autism – one of the many “brain differences” addressed by CDI. Arlet describes the organization as a “one-stop shop” for parents who don’t know how to find the resources they need to help their children.

Joan Maltese, Executive Director for CDI, points out that early intervention, including screening, is the most helpful and economical for families dealing with child development challenges. “You can face a lifetime of stress if you don’t know where the resources are,” she says, adding that parents are often the first to recognize that their child may be struggling.

CDI is unique because of its focus on the whole family – supporting them to provide the social and emotional development tools their kids need in an integrated, whole child and whole family approach. Joan’s message to families is never give up on a child. “Never let a diagnosis stop you from thinking about who a child might really be,” she added.

At CDI’s recent 20th anniversary gala, a 15-year old young man named Dillan, who has autism and is non-verbal, stunned the crowd. Dillan, using a communication board, demonstrated that the early years his parents spent involved with CDI and its services gave them the foundation to keep investing in Dillan’s development. He was able to share his thoughts with the gala crowd, and how important it was to him that CDI staff believed in him and that his parents loved him. Just because Dillan can’t express himself the same way others can doesn’t mean that he isn’t highly aware of himself, others and his surroundings. The 285 people in attendance gave Dillan a standing ovation.

Representatives from a California State Senator have asked Dillan to come to Sacramento to speak with state legislators about resources for child development. Dillan has expressed interest, and CDI plans to help him.

Organizations like CDI demonstrate the importance of community member involvement. Nonprofits serve to fill gaps where not enough market value exists to support a for-profit enterprise but the service is still very much needed. We would like to thank CDI and Arlet for helping to make our community stronger.

We are proud to provide banking services and support for CDI. Please visit CDI’s website↗ for more information about the organization and how you can get involved.

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Grandpoint client helps outfit Kentucky Derby & Preakness winner

According to Larry Sallinger, vice chair and Orange County regional manager of Grandpoint Bank, one of the best things about being a commercial banker is getting to work with so many interesting businesses, including Thoro’Bred Racing Platesscreen-shot-2016-09-13-at-11-07-51-am – the company that made the shoes California Chromescreen-shot-2016-09-13-at-11-07-51-am wore to handily win the 2014 Kentucky Derby and Preakness Stakes.

The Anaheim-based company has been producing horse shoes – also known as racing plates – for 65 years.  Equine legends such as Secretariat, John Henry and Cigar – plus many more – have worn Thoro’Bred shoes as they raced to victory.

Thoro’Bred Racing was started in 1949 by Bruce Kinney, and has been operated for the past 30 years by Edwin (Ed) Kinney.   It is one of many manufacturing companies that Grandpoint serves in Orange County.

“We enjoy going to Thoro’Bred’s place of business,” says Terry Zippwald, an account officer with Grandpoint Bank.  “It’s like stepping back in time and going to the blacksmith’s shop, except this shop is 34,000 square feet.”  The company also has separate shipping and storage facilities.

Thoro’Bred is a specialty industry that manufactures hundreds of different types of horseshoes for customers locally and worldwide. Thoro’Bred makes specialized shoes for all types of horses, miniature horses, quarter horses, thoroughbred horses, police horses and for the family pet. For racing, horses need different shoes for different track conditions, so shoes may need to be changed on a very frequent basis. Aluminum racing plates last up to six weeks, but usually are changed every month.

Thoro’Bred has been a customer of Grandpoint for seven years, using a variety of the bank’s business services. Because Thoro’Bred’s shoes are worn throughout the world, Grandpoint provides international banking services to the company. In addition, Mr. Kinney has attended Grandpoint Bank’s annual economic forecast held in association with Chapman University.

At Thoro’Bred, the goal is “to make the farrier’s* job easier and every horse a winner,” which mirrors Grandpoint’s goal to help make every businessperson’s job easier and every business successful.

Congratulations to Thoro’Bred on its winning association with California Chrome!

And here’s hoping that California Chrome wins the Triple Crown!

*A person who shoes horses

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