SVBusiness Capital provided a $1 million revolving line of credit to related software consulting companies. The co-borrowers have similar ownership, but are separately located on both the East Coast and West Coast.

The line of credit was designed to help absorb the acquisition costs associated with their newly combined businesses as well as to supplement the working capital needs of their joint entities. The credit facility assisted the financial needs of this assemblage, which combines both the world’s largest and third largest vendors for their specialized software platform.

Kevin O’Hare, president of SVBusiness Capital, said, “The bank worked closely with the surviving management team as they negotiated and navigated the legal and financial arrangements necessary to appease the selling party’s interests, related to their earn-out provisions. Our ability to provide additional funding by creating a secondary borrowing base was an important ingredient in the success of the overall financing plan.”

San Jose, CA-based SVBusiness Capital, a division of Scott Valley Bank, is a direct lender that specializes in asset-based lending services.