Daily News: October 23, 2012

RedRidge Funds $3.5 Million Facility to Cloud Silver Lining


RedRidge Finance Group (RFG) announced the funding of a $1.5 million revolver and $2 million senior term loan facility to Cloud Silver Lining, Inc. This combined facility of $3.5 million will allow the company and management team to take advantage of the current pipeline of opportunities and pursue its growth initiatives.

Cloud Silver Lining, headquartered in Chicago, is an IT Consultancy focused on helping clients in financial services and Fortune 500 organizations assess IT problems to determine the business benefits of Cloud computing. Cloud computing is the practice of using the internet to store, manage, and process data and applications.

“The facility provided to us by RedRidge Finance Group will allow our company to fulfill a significant backlog that has been built in recent months” said Bob Shinn, president of Cloud Silver Lining, Inc. He added “RedRidge Finance Group moved at a rapid pace to ensure that the company received the funding in a timely manner. All of the individuals that we worked with were professional, efficient and knowledgeable of our business.”

Randy Abrahams, president and CEO of RedRidge Finance Group stated, “RedRidge looks forward to supporting the extraordinary growth of Cloud Silver Lining, Inc. and we are excited to be a part of their continued success.”

RedRidge Finance Group is a provider of specialty opportunity capital and asset-based lending as well as due diligence services and advisory services.