LOS ANGELES, Feb. 9, 2016 /PRNewswire/ -- Pacific Mercantile Bank ("the Bank"), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ: PMBC), announced today that its Entertainment Industries Division (EID) has provided Das Films with financing for its dance film set in India and directed by Duane Adler, who wrote and created the first two STEP UP films. Pacific Mercantile's production financing package consists of gap financing and cash-flowed pre-sales.
"Pacific Mercantile Bank not only provided customized financing for the film, but have been invaluable advisors throughout the process," said Sriram Das, Producer of HEARTBEATS.
"We are thrilled to provide financial services for Das Films," said Adrian Ward, Senior Vice President, Entertainment Industries Division, Pacific Mercantile Bank. "Sriram Das and his team have developed a very entertaining film with global potential."
Principal filming began in late January on location in India. HEARTBEATS tells the story of a feisty American hip hop dancer who travels to India with her family for a wedding and falls in love – with both a new style of dance and the determined young man who introduces it to her.
HEARTBEATS is produced by Sriram Das for Das Films with Karine Martin for MediaBiz along with Andrea Chung, and Dileep Singh Rathore for On The Road India. Myriad Pictures is handling domestic and international sales and will launch outreach at the upcoming Berlin Film Festival.
Pacific Mercantile Bank is one of the premier lenders to independent film and television producers, distributors and other entertainment-related companies. Since 2009, Pacific Mercantile's EID has extended more than $275 million in financing to independent film and television production companies. Collectively, the EID team has more than 50 years of exclusive entertainment-related experience and has financed more than 750 film and television productions with budgets ranging from $1 million to $65 million.
ABOUT DAS FILMS
Das Films was founded in 2007 by producer Sriram Das. Recent projects include THE NOVEMBER MAN, directed by Roger Donaldson and starring Pierce Brosnan, which was distributed by Relativity Media; INTO THE FOREST which premiered at the Toronto International and Pusan film festivals and was acquired for US release by A24; and SOME KIND OF BEAUTIFUL, which was released domestically by Lionsgate and stars Pierce Brosnan, Salma Hayek and Jessica Alba. The company is currently in production on THE BLEEDER, starring Liev Schreiber and Naomi Watts, and Duane Adler's HEARTBEATS.
About Pacific Mercantile Bank
Pacific Mercantile Bank opened for business March 1, 1999. The Bank is FDIC insured and a member of the Federal Reserve System, provides a wide range of commercial banking services to businesses, business owners and business professionals through its combination of traditional banking financial centers and comprehensive, sophisticated electronic banking services.
The Bank, headquartered in Orange County, operates a total of nine offices in Southern California, located in Orange, Los Angeles, San Diego, and San Bernardino counties. In addition, the Bank offers comprehensive online banking services accessible at www.pmbank.com. Pacific Mercantile Bancorp (NASDAQ: PMBC) is the parent holding company of Pacific Mercantile Bank.
Firefly Media /Penny Guyon Email 323-874-0776
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SOURCE Pacific Mercantile Bank