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SVBusiness Capital Provides A/R Credit Line to Mobile Solutions Provider

February 05, 2016, 07:43 AM
Filed Under: Telecom

Scott Valley Bank’s Asset Based Lending division, SVBusiness Capital, has recently provided a $1.5 million accounts receivable line of credit with a $200,000 inventory sub-feature to an Integrated Mobile Solutions Provider in the San Francisco Bay Area. The company is a mobile solutions provider that develops, manufactures and supports a variety of safety oriented products used by law enforcement agencies as well as public safety organizations throughout the nation. These products are often times utilized within the commercial fleets of these end users and are designed to keep field personnel well informed, efficient and safe.

The line of credit was procured by the borrower in order to replace their prior bank lender’s more rigid credit structure by allowing for more flexible borrowing base eligibility requirements. The added cash availability will enable this twenty year plus woman owned business to best leverage their assets in order to optimally supplement their working capital financing needs and smooth their cash flow cycles.

Kevin O’Hare, President of the Asset Based Lending arm said, “Now that the bank offers Asset Based Lending services it gives us great pleasure to be able to assist a long-time bank depositor with a more flexible and nimble form of working capital financing. We are especially delighted to partner with such a cutting edge company that serves and protects our law enforcement agencies across the United States.”

SVBusiness Capital, Scott Valley Bank’s Asset Based Lending division offers a variety of elastic credit facilities designed to assist growing companies. These revolving lines of credit and term loans range in size from $250,000 to $7.5 million. SVBusiness Capital also offers its innovative SVBusiness Excelerator, an incubator-style program designed to reward growing businesses that achieve certain financial milestones and provide them with a clear path toward conventional bank financing.

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