Daily News: May 7, 2014

US Capital Provides $1MM Credit Line, $500K Term Loan

US Capital Partners has provided a $1.5 million credit facility for November Research Group, headquartered in Oakland, CA. US Capital Partners is a private investment bank that makes direct debt investments, participates in debt facilities, and arranges equity placements for small to lower middle market companies.

“US Capital Partners successfully provided a $1 million line of credit together with a $500,000 term loan to support the company’s ongoing domestic and international expansion,” said US Capital Partners CEO and Managing Director Partners Jeffrey Sweeney.

“We are extremely pleased with this well-structured debt financing, which is designed to support our ongoing expansion,” said Seth Warhaftig, president of November Research. “Last year, the FDA’s Center for Devices and Radiological Health selected November Research’s PRIMO software platform as the product vigilance software solution to replace its aging MAUDE system. Recently, we launched an aggressive campaign to expand our products and services into the Japanese market. As we move into the next phase of our business expansion, this new credit facility will provide the additional working capital we need to support our growth plans.”

November Research is a professional services firm that provides software and services in pharmacovigilance to the pharmaceutical and life science industry.