Daily News: November 4, 2013

Intellicheck Mobilisa Renews $2M Credit Line from SVB

Intellicheck Mobilisa 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, PhD, 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.”

Intellicheck Mobilisa is a technology company providing wireless technology and identity systems for various applications, including mobile and handheld access control and security systems for the government, military and commercial markets.