MTBC entered into a $5 million secured line of credit to support growth initiatives with Silicon Valley Bank.

“We’re pleased to partner with MTBC during this exciting time in the company’s growth,” said Scott McCarty, director at Silicon Valley Bank. “MTBC is driving important advancements to healthcare administration. Our goal is to provide the best financing, connections and global services to support the company’s success.”

“MTBC has a repeatable business model, and we appreciate Silicon Valley Bank’s flexibility to structure a line of credit that supports continued organic growth, potential acquisitions and enables us to achieve our corporate objectives” said Bill Korn, chief financial officer of MTBC. “We are pleased to be collaborating with Silicon Valley Bank and look forward to a long-term relationship.”

MTBC’s revolving line of credit provides up to $5 million of capital to be used for growth and general corporate purposes. The agreement contains additional covenants, terms and conditions including obtaining SVB’s approval of potential acquisition opportunities.

MTBC is a healthcare information technology company that provides a fully integrated suite of proprietary web-based solutions, together with related business services, to healthcare providers throughout the U.S.