WANdisco entered into a new debt facility provided by Silicon Valley Bank. The facility replaces an existing HSBC facility due to expire on June 30, 2017.

The facility comprises an up to $5 million term loan facility, with an interest-only period to May 31, 2018, followed by a three-year maturity at a floating interest rate of prime + 1.5% per annum, capitalizing on current low interest rates. In addition, there will be up to $3 million available through a revolving credit facility secured by qualified accounts receivable. The new facility will mature on April 1, 2021.

“We are delighted to announce this new facility, with a term debt component to support our growth capital needs in a non-dilutive way, as well as a revolving line of credit that should improve operational cash flow as our revenues continue to grow,” said Erik Miller, WANdisco CFO.

WANdisco’s patented WANdisco Fusion technology enables the replication of continuously changing data to the cloud and on-premises data centers with guaranteed consistency, no downtime and no business disruption.