Horizon Provides $5MM Venture Loan Facility to Additech
Horizon Technology Finance announced it has closed a $5 million venture loan facility to Additech, a technology company that designs, builds and operates a unique at-the-pump automobile engine maintenance system. Additech will use the funds for working capital purposes.
We are pleased to provide this $5 million venture debt facility to Additech, an innovative technology company that operates a patented software and hardware retail delivery system enabling drivers to choose and access fuel additives at-the-pump, stated Gerald A. Michaud, president of Horizon.
Additech’s high volume retail customer relationships, considerable technology capabilities and predictable business model make them a compelling addition to Horizon’s loan portfolio.