US Capital Provides Bridge Loan for CloudSmartz Facility
US Capital Partners Inc. has provided a bridge loan to a multi-million dollar facility for CloudSmartz, headquartered in Rochester, New York.
“We are extremely pleased with this timely bridge financing,” said Jeff Luchetti, CFO at CloudSmartz. “Known for artfully applying technology as the empowering force behind the transformation of both start-ups and Fortune 500 companies, CloudSmartz plans to continue the strategic expansion of its Application Development and Managed IT Services offerings. To that end, we approached US Capital Partners to secure additional working capital and to put in place well-structured bridge financing that meets our strategic needs. We are very pleased with the result.”
“We are delighted to have provided bridge financing for this expanding IT and cloud service provider,” said Jeffrey Sweeney, chairman and CEO at US Capital Partners. “US Capital Partners has a proven track record in securing innovative financing alternatives for small and medium-sized businesses. Within one week of receiving the required information, US Capital Partners was able to close a subordinate term loan facility for CloudSmartz. The facility was customized to provide CloudSmartz with the liquidity and flexibility it needed while the company explored and executed on its first step in refocusing the business on its growth strategy.”
CloudSmartz is a managed IT and cloud solutions provider with a vision to use artfully applied technology as the empowering force behind the transformation of start-ups and Fortune 500 companies alike.