Avidbank Specialty Finance refinanced a $4 million term loan for NTN Buzztime. The funds will be used to provide the company with a more flexible financing structure.
Founded in 1984 and headquartered in Carlsbad, CA, Buzztime licenses interactive entertainment, performance analytics, customized menus and self-service dining features, including secure payment EMV, Apple, Android and Samsung Pay, for use in casual dining, bars, senior living, and other business services.
“Our team was pleased to help Buzztime adapt their loan structure to allow them more flexibility,” said Larry LaCroix, executive vice president and head of Avidbank’s Specialty Finance Division. “We look forward to building this relationship long-term and being a strategic banking partner for Buzztime.”
“We are happy to enter into this relationship with Avidbank, and the transition has been very smooth. The bankers understand our business goals, and we feel they are a great partner to help us accomplish them,” said Allen Wolff, Buzztime’s chief financial officer and executive vice president.
Headquartered in San Jose, CA, Avidbank offers innovative financial solutions and services, specializing in commercial & industrial lending, technology and asset-based lending, sponsor finance, real estate construction and commercial real estate lending.
