Daily News: February 27, 2014

Avidbank Provides November Research Group Facilities

Avidbank Corporate Finance provided November Research Group $1.5 million in various senior debt facilities. Proceeds will be used to help the company fund its continued growth.

“I am pleased we were able to put these facilities in place for November Research Group,” stated Mike Hansen, Avidbank Corporate Finance EVP. “As a leader in their industry, they are the type of business our corporate finance division is looking to fund. We look forward to a long and mutually beneficial relationship.”

Seth Warhaftig, president of November Research Group, commented, “The ability to establish these types of credit facilities signals the progress that November Research Group has made and the sustainability of our growing business. These facilities will provide us with the flexibility to meet any potential liquidity needs as we continue to aggressively grow our business. We are excited to establish this partnership and are looking forward to a long-term relationship with Avidbank.”

November Research Group provides software products and professional services for medical product safety to life science organizations.