Opus Bank announced that the Small Business Administration (“SBA”) has issued a “Green Light” letter inviting Opus to continue its application process to obtain a license to form and operate a Small Business Investment Company (“SBIC”).

“The SBIC will have an investment strategy of focusing on making non-controlling, growth equity investments in lower middle-market companies located in the Western region. Opus Bank is sponsoring the fund, and it is expected that Stephen H. Gordon, Michael Allison, and Dale Cheney will act as the fund managers.”

The SBA issued a “Green Light” letter to Opus after reviewing preliminary application materials and interviewing the proposed SBIC investment team. Receipt of a “Green Light” letter from the SBA does not assure an applicant that the SBA will ultimately issue an SBIC license, and Opus Bank has received no assurance or indication from the SBA that it will receive an SBIC license, or of the timeframe in which it would receive an SBIC license, should one be ultimately granted.

Stephen H. Gordon, Founding Chairman, Chief Executive Officer and President of Opus Bank, stated, “Since Opus’ inception, we have adhered to an entrepreneurial approach to partnering with our clients by providing the capital funding and strategic advice necessary to enable their vision to expand and grow. The establishment of a bank-sponsored SBIC is a meaningful differentiator that will enable Opus to not only commit its balance sheet by providing senior debt solutions, but also to further address a company’s capital needs by committing equity.” Gordon added, “The SBIC will have an investment strategy of focusing on making non-controlling, growth equity investments in lower middle-market companies located in the Western region. Opus Bank is sponsoring the fund, and it is expected that Stephen H. Gordon, Michael Allison, and Dale Cheney will act as the fund managers.”