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Avidbank Provides $7.5MM Credit Facilities to Zumasys, Inc.

February 13, 2018, 07:10 AM
Filed Under: Technology

Avidbank Specialty Finance, a Division of Avidbank that specializes in technology and asset-based lending, has provided $7.5 million in credit facilities to Zumasys, Inc. The facilities include a working capital line of credit and term debt that will be used to refinance existing debt and provide ongoing working capital.

Founded in 2000 and headquartered in Irvine, California, Zumasys is a leading provider of cloud computing solutions for business-critical applications. Zumasys helps companies every size achieve computing performance and reliability both on premises and in the cloud.

“From the moment we engaged with Avidbank’s Business Development Officer, it was clear this is a different type of senior lender,” said Paul Giobbi, President of Zumasys. “From the Chief Credit Officer to the CEO, everybody we have met thinks likes a businessperson – not a banker, and it is refreshing. We could not be happier with our decision to work with Avidbank.”

“We are very excited to be chosen by Zumasys to become their long-term financial partner, and are proud that we were able to structure a loan facility that supported their immediate and long-term goals,” said Darryl Karmen, Avidbank Specialty Finance, Senior Vice President, Regional Manager. “We are very impressed with the Company’s management team and the strong corporate culture they have created, and we look forward to building a lasting relationship.”

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