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BRIDGE BUSINESS BANCORP PROVIDES $5.25 MILLION FINANCING PACKAGE TO HELP CHERRY BLOSSOM, LLC REDUCE DEBT COSTSCHICAGO, IL - DECEMBER 5, 2007 - Bridge Business Bancorp, an operating division of Bridge Finance Group, provided Cherry Blossom, LLC of Williamsburg, Michigan with a $3,000,000 USDA Term Loan, a $2,000,000 SBA Term Loan and a $250,000 conventional line of credit. The proceeds from the funding were used to refinance existing debt from multiple lenders and resulted in a substantial decrease in annual debt service charges. Additionally, the transaction paved the way for the Company to receive a $5,000,000 forgiveness of debt from its main vendor. Cherry Blossom, LLC is a cherry transportation, receiving, pitting and brining station that produces cherries for the ice cream and confectionary markets. Christopher Hubbell, President and CEO of Cherry Blossom, LLC, stated that "Bridge Business Bancorp has helped us improve our financial position by understanding the needs of our company. We are now able to take our business to the next level by expanding our market and increase customer relationships." Matt Smith, Director of Bridge Business Bancorp, commented, "We are happy to have provided Cherry Blossom, LLC with a comprehensive loan package that will allow them to meet current and future needs and continue the company's success." ABOUT BRIDGE BUSINESS BANCORP Bridge Business Bancorp, an operating division of Bridge Finance Group, offers a combination of comprehensive loan products, decades of financial expertise and an unparalleled service approach unique to the lending industry. Through accounts receivable, cash flow and real estate based term loan lending products, Bridge is able to address the differing capital needs of its customers. Bridge is based in Chicago, Illinois with offices in the Northeast, Southeast, Midwest and West Coast. CONTACT Matt Smith, Director |