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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
I.D. Systems Closes $7.5MM With Siena Lending Group
Monday, December 28, 2015
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Lenders/Participants
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Siena Lending Group LLC [Lender]
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Structure
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Revolver
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Amount
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$7.500
Million
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Borrower(s)
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I.D. Systems, Inc.
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Description
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The Revolver provides a revolving credit facility in an aggregate principal amount of up to $7.5 million and a maturity date of December 18, 2017 (which date may be accelerated in certain cases). The Company intends to use borrowings under the Revolver for a variety of purposes, including working capital and general corporate purposes. In general, borrowings under the Revolver bear interest at a rate equal to the sum of 2.00% per annum plus the base rate as it is defined in the loan and security agreement governing the Revolver. In addition, the Company is charged an unused line fee equal to 0.50% per annum on unused amounts of the revolving credit facility and a minimum borrowing fee equal to the excess, if any, of (i) interest which would have been payable in respect of each month if, at all time during such month, the principal balance of the Revolving Loans (as defined in the Revolver) was equal to $2,000,000 over (ii) the actual interest payable in respect of such month on the Revolving Loans.
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Industry
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Technology
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| Related Tags |
Siena Lending Group
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ABL Advisor
Deal Tables
2025
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