Daily News: July 27, 2012

Comerica Provides $5 Million Facility for Rainmaker

Rainmaker Systems announced that it has entered into a $5 million loan and security agreement with Comerica Bank.

The maximum amount of credit available to the company under the credit facility is $5 million, composed of a $3 million 36-month term loan and a $2 million 18-month revolving line of credit.

“Completing this credit agreement with Comerica Bank is another positive step forward in the company’s transformation to become a leading global provider of B2B e-Commerce solutions,” said Timothy Burns, Rainmaker’s CFO. “This credit agreement is a strong indication of the bank’s confidence in our ability to continue to improve our financial performance.”

Campbell, CA-based Rainmaker Systems is a global provider of B2B e-commerce solutions that drive online sales and renewal for products, subscriptions and training for its clients and channel partners.