SVBusiness Capital announced the issuance of a $1 million revolving line of credit to related software consulting companies. The co-borrowers have similar ownership, but are separately located on both the East and West coasts. 

The line of credit was designed to help absorb the acquisition costs associated with their newly combined businesses as well as to supplement the working capital needs of their joint entities.  The credit facility was helpful in assisting the financial needs of this assemblage, which combines both the world’s largest and third largest vendors for their specialized software platform.

Kevin O’Hare, President of SVBusiness Capital said, “The bank worked closely with the surviving management team as they negotiated and navigated the legal and financial arrangements necessary to appease the selling party’s interests, related to their earn-out provisions. Our ability to provide additional funding by creating a secondary borrowing base was an important ingredient in the success of the overall financing plan.”   

SVBusiness Capital, a division of Scott Valley Bank, is a direct lender that specializes in asset-based lending services designed to support the growth of American companies. Our specialty finance programs can be designed and tailor made for businesses requiring unique borrowing arrangements. Credit facilities range in size from $250,000 to $7.5 million and are typically utilized by businesses with revenues starting at $1MM on up to $50MM+.