Snipp Interactive, a global provider of digital marketing promotions, rebates and loyalty solutions, entered into a new $2 million credit facility with Bridge Bank. The credit facility consists of an accounts receivable line of credit for up to $2 million and provides Toronto-based Snipp with additional working capital.
“Adding a credit facility to our financial structure is another tangible sign of the growth of Snipp as a company and a vote of confidence in our future,” said Snipp CEO Atul Sabharwal. “Although we are debt free, we realize that access to additional funds will ensure our ability to maintain our growth without interruption. Financial flexibility has become particularly important as the size and volume of our contracts continues to increase.”
