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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
STERLING WEST BANCORP
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
859728-10-7
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(CUSIP Number)
Farhad Motia
President
Preferred Business Credit, Inc.
300 N. Lake Avenue, Suite 1115
Pasadena, CA 91101
Telephone: (818) 432-5625
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 31, 1995
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(Date of Event which Requires
Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box / /.
Check the following box if a fee is being paid with this statement /x/.
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
(Continued on following pages)
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CUSIP No. 859728-10-7 13D Page 2 of 7 Pages
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1. NAME OF REPORTING PERSON Preferred Business Credit, Inc.
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON 95-3924989
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) / /
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3. SEC USE ONLY
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4. SOURCE OF FUNDS OO
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e) / /
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6. CITIZENSHIP OR PLACE OF ORGANIZATION California
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NUMBER OF 7. SOLE VOTING POWER 87,722
SHARES -----------------------------------------------------------------
BENEFICIALLY
OWNED BY 8. SHARED VOTING POWER -0-
EACH -----------------------------------------------------------------
REPORTING
PERSON 9. SOLE DISPOSITIVE POWER 87,722
WITH -----------------------------------------------------------------
10. SHARED DISPOSITIVE POWER -0-
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 87,722
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES / /
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.1%
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14. TYPE OF REPORTING PERSON CO
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CUSIP No. 859728-10-7 13D Page 3 of 7 Pages
Item 1. Security and Issuer.
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This statement relates to the Common Stock (the "Common Stock") of Sterling
West Bancorp, a California corporation. The principal executive offices of
Sterling West Bancorp are located at 3287 Wilshire Boulevard, Los Angeles, CA
90010.
Item 2. Identity and Background.
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This statement is filed on behalf of Preferred Business Credit, Inc., a
California corporation (the "Company"), whose business address is 300 N. Lake
Avenue, Suite 1115, Pasadena, CA 91101. The officers and directors of the
Company are set forth on Appendix A hereto. The Company's principal business is
the making commercial loans. During the last five years, neither the Company
nor any officers of the Company has been (a) convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors), or (b) a party to a
civil proceeding of a judicial or administrative body of competent jurisdiction
and as a result of such proceeding was or is subject to a judgment, decree or
final order enjoining future violations of, or prohibiting or mandating
activities subject to, federal or state securities laws or finding any violation
with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration.
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Contributed to the Company by Farhad Motia and Fred Bae.
Item 4. Purpose of the Transaction.
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The shares of Sterling West Bancorp stock are being contributed to the
Company by two of its officers and
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CUSIP No. 859728-10-7 13D Page 4 of 7 Pages
shareholders. The Company is holding the shares for investment purposes.
Depending on market conditions and the availability of exemptions for resale,
the Company may decide to sell the stock, retain the stock or acquire additional
stock in the future.
Item 5. Interest in Securities of the Issuer.
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According to the most recently available quarterly report on Form 10-Q of
Sterling West Bancorp, there are 1,710,429 shares of Common Stock issued and
outstanding.
(a) Amount beneficially owned by the Company: 87,722
Percent of class: 5.1%
(b) The number of shares as to which the Company has:
(i) Sole power to vote or direct the vote: 87,722 shares;
(ii) Shared power to vote or direct the vote: None;
(iii) Sole power to dispose or direct the disposition of:
87,722 shares;
(iv) Shared power to dispose or direct the disposition of:
None.
(c) Except as described above, there have been no transactions in shares
of the Common Stock of Sterling West Bancorp by the Company within the past 60
days.
(d) No other entity is known to have the right to receive or the power to
direct the receipt of dividends from, or the
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CUSIP No. 859728-10-7 13D Page 5 of 7 Pages
proceeds from the sale of, the securities to which this Statement relates.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
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to Securities of the Issuer.
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The Company is not a party to any contracts, arrangements, understandings
or relationships with respect to any securities of Sterling West Bancorp,
including but not limited to the transfer or voting of any of the securities of
Sterling West Bancorp, finder's fees, joint ventures, loan or option
arrangements, puts or calls, guarantees of profits, division of profits or loss,
or the giving or withholding of proxies.
Item 7. Materials to be Filed as Exhibits.
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Not applicable.
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CUSIP No. 859728-10-7 13D Page 6 of 7 Pages
SIGNATURE
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After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated as of January 10, 1996.
PREFERRED BUSINESS CREDIT, INC.
By /s/ Farhad Motia
-----------------------------------
Farhad Motia,
President
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CUSIP No. 859728-10-7 13D Page 7 of 7 Pages
APPENDIX A
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The following is a list of directors and officers of the Company:
Principal
Name Address Occupation
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Directors
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Farhad Motia 300 N. Lake Drive #1115 President, Preferred
Pasadena, CA 91101 Business Credit, Inc.
William C. Kuhns 300 N. Lake Drive #1115 Secretary, Preferred
Pasadena, CA 91101 Business Credit, Inc.
Fred Bae 300 N. Lake Drive #1115 Executive Vice President,
Pasadena, CA 91101 Preferred Business Credit,
Inc.
Officers
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Farhad Motia 300 N. Lake Drive #1115 President, Preferred
Pasadena, CA 91101 Business Credit, Inc.
William C. Kuhns 300 N. Lake Drive #1115 Secretary, Preferred
Pasadena, CA 91101 Business Credit, Inc.
Fred Bae 300 N. Lake Drive #1115 Executive Vice President,
Pasadena, CA 91101 Preferred Business Credit,
Inc.
Michael Murphy 300 N. Lake Drive #1115 Vice President, Preferred,
Pasadena, CA 91101 Preferred Business Credit,
Inc.
