Company Profile

Grand Pacific was formed in 1983 to provide financing to small and medium sized businesses of Taiwan and local descent. Initially located in Los Angeles, it opened a New York office in 1985 and a San Francisco office in 1987. Following a business model that prioritized smaller loans to local businesses and long term relationships, Grand Pacific have grown continuously to become a major nationwide lender.

At the inception of operations in 1984, small-ticket lease financing was primarily provided to customers. Over half of the lease portfolio was in the manufacturing sector with the remainder widely diversified in the printing, food service, textile, medical, hospitality and construction sectors. As the business grew, small business loans were offered. In 1987, construction loans primarily on small, infill residential developments were made. Often, construction of just single-family houses was financed.

In the early 1990’s, the Company decided to narrow the focus of its product base to small business loans backed by real estate and broaden the focus of its customer base to businesses of all descents. Until the mid-nineties, leasing still accounted for nearly half of the Grand Pacific’s portfolio, but commercial mortgage lending has gradually assumed a greater emphasis and presently accounts for nearly 70.0% of Grand Pacific’s total earning assets. The existing portfolio of mortgage loans is indicative of the philosophy of maintaining a diversified asset base and has an average loan size of $1.3 million.

Today, Grand Pacific’s strategy is to originate and securitize small business loans secured by commercial or rental real estate. The Company still employs the conservative and disciplined credit culture that was instilled during its inception.

As of March 31, 2005, Grand Pacific’s total serviced real estate portfolio equaled approximately US$446 million.