Metro Phoenix Bank (OTCPink: MPHX) (“MPB”) announced a sizable credit facility to Greyline Outdoor Advertising, further solidifying itself as a national leader in outdoor media lending. Greyline Outdoor Advertising is the second-largest outdoor advertising company in the greater Western New York region and is now expanding into New York City. Their latest project currently underway includes the construction and installation of a digital board in Times Square, ideally situated above a prime retail store. This is Metro Phoenix Bank’s initial outdoor media transaction in the State of New York.
“These are exciting times for Greyline Outdoor Advertising as we expand into one of the world’s most visited tourist attractions – Times Square,” said Linda Scritchfield, Greyline Outdoor Advertising, Managing Partner. “Obtaining financing from Metro Phoenix Bank was a critical component throughout our expansion process. Not only did they have a dedicated outdoor media lending program, but their staff was efficient, billboard savvy, and a pleasure to work with. MPB is now our billboard lender of choice.”
Stephen P. Haggard, president and CEO of Metro Phoenix Bank, stated that, “MPB has been serving the Outdoor Media market since 2009. Although we initially focused on the Arizona outdoor media market, this lending program has expanded its footprint into numerous states…and we are not stopping there. We have a fine-tuned program with in-house expertise and substantial capacity to lend in this exciting space. Our dedicated team, led by SVP Rickard Strom, is well versed in the unique variables of the industry. Ultimately, working in partnership with Greyline Outdoor Advertising and other successful mid-sized outdoor media companies has been the building block for a mutually beneficial program.”