REGION'S BOOMING TECH FIRMS LURE BANK.

Byline: Ben Sullivan Daily News Staff Writer

Silicon Valley Bank, one of the top lenders to California start-ups, said Tuesday that it has opened a branch in Westlake Village to service technology firms along the Ventura Freeway corridor.

The office is the Santa Clara-based bank's fourth in Southern California and will service firms from Burbank to Goleta, the company said. Other Silicon Valley branches are located in Irvine, West Los Angeles and San Diego.

``The impetus here is to get staff closer to our clients,'' said Terry Bess, a senior vice president who will oversee the new office. Bess said the bank already has about 35 clients in the region who previously had been serviced by the bank's Orange County and West Los Angeles branches.

Industry participants say the new branch reflects a heating up of the region's technology-driven economy. ``The bottom line is that people think there's an opportunity here,'' said Cliff Numark, program director at the Los Angeles Regional Technology Alliance. ``The 101 corridor has a reputation that is quickly developing, so the location makes sense.''

Bess said most of the bank's lending will be to start-up companies wanting to expand with loans typically between $500,000 and $3 million.

In addition to bank lending, LARTA released a study in December that found venture capital is flowing into the region faster than ever, with spending up 290 percent since 1995, to more than $722 million invested in Greater Los Angeles annually.

``It's all just another sign about where the region is headed,'' Numark said.