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SVBusiness Capital Provides $1MM Credit Line to Solar Company

March 25, 2015, 07:53 AM
Filed Under: Energy

SVBusiness Capital announced the issuance of a $1 million revolving line of credit to a California-based solar company.  The proceeds were used to refinance existing debt and to support the growing revenue base.

As a result of limited financial arrangements with their existing lender, this sixteen-year-old company had been unable to take full advantage of growth opportunities in the rapidly expanding solar and alternative energy generation sectors. SVBusiness Capital was able to provide a solar financing solution that enabled the borrower to accelerate sales and operations in order to scale their platform. 

Kevin O’Hare, SVP and group manager of SVBusiness Capital remarked, “the prospective borrower was seeking a financial partner that could become comfortable with their business model, despite a prior year loss, as well as possessing the ability to underwrite a unique account debtor base. In the end, our efforts produced a flexible and fairly- priced credit facility that was very attractive to our borrower.”

SVBusiness Capital, a division of Scott Valley Bank, is a direct lender that specializes in asset-based lending services designed to support the growth of American companies.

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