Daily News: August 30, 2012

Horizon Technology Finance Closes $5 Million for SimpleTuition

Horizon Technology Finance Corporation, a specialty finance company that provides secured loans to venture capital and private equity backed development-stage companies in the technology, life sciences, healthcare information and services, and clean-tech industries, announced that it has closed a $5 million venture loan to SimpleTuition, Inc., a provider of tips, advice and interactive tools that help students save on college-related expenses. The funds provided to SimpleTuition will support its continued growth.

“SimpleTuition is a unique and exciting company, providing significant value to students and their families seeking to address the rising costs of college tuition,” stated Gerald A. Michaud, president of Horizon. “The company has developed a wide range of innovative tools and offerings with a focus on affordable higher education. Horizon is pleased to provide this venture debt financing to SimpleTuition as the company continues to grow its interactive platform and help meet a critical need for millions of college students.”

Kevin Walker, co-founder and CEO of SimpleTuition, stated, “This venture loan from Horizon has increased our liquidity as we continue to expand our tools and services to assist college students in managing the costs of higher education. We appreciate this new partnership with Horizon, a highly respected direct originator of venture loans. Their ability to seamlessly provide our company with a customized financing solution has strengthened our position to drive future growth.”