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Super G Provides $1.5MM Bank Exit Financing for SaaS Company

September 21, 2018, 07:15 AM
Filed Under: Software

Super G provided a $1.5 million exit facility to a venture-backed SaaS provider for content management and digital publishing.evenue:

The Company was placed in the Bank’s special assets division due to a covenant violation. Although the Company continued to perform, the Bank wanted to exit the credit. Super G was brought in to offboard the client and provide additional working capital.

Super G was able to quickly get comfortable with the business due to the contracted recurring revenue and equity support. Super G provided a $1.5mm highly structured, nonformula-based, senior secured loan. The Bank successfully offboarded the client as desired and the Company received additional working capital.

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