Royal Bank of Pennsylvania has formed a specialty financing division targeting emerging companies.

The Narberth, Pa.-based bank said it will focus its Royal Venture funding division on mezzanine financing-special loans with interest rates determined by the success of the borrower.

"The typical business to be financed might be ones which hold unique patents or licenses, or are involved in an acquisition," said Lee E. Tabas, president of $390 million-asset Royal.

"The important thing is that the businesses demonstrate potential for rapid, profitable growth."

Mr. Tabas said the division will make loans of $250,000 to $1.25 million. - Louis Whiteman

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