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Silicon Valley Bank Renews $2MM Facility for Intellicheck Mobilisa

November 04, 2013, 07:44 AM
Filed Under: Security Systems

Intellicheck Mobilisa, Inc., a global leader in identity solutions and wireless security systems, has signed a new one-year revolving credit facility for $2 million with Silicon Valley Bank, replacing its previous credit facility with that bank. The new credit line gives Intellicheck Mobilisa more flexibility to move forward with growth initiatives.

Brian Boatman, Managing Director of Silicon Valley Bank’s Seattle office, stated, “Two years ago we granted our original credit facility to Intellicheck Mobilisa and since then the company has developed several new technologies and products that help secure vital government facilities and service commercial establishments. We are pleased to continue to partner with the team and offer the range of financial services they need as the company grows.”

Nelson Ludlow, Ph.D., President and CEO of Intellicheck Mobilisa, said, “Having Silicon Valley Bank as our banking partner is key in advancing the development of our world-class identity solutions. SVB is a leader for banking needs for high-tech software companies, and we are grateful for their continued support of our company.”

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