Pinnacle Capital Finance issued a $5 million accounts receivable line of credit for a semiconductor design and manufacturing company that specializes in digital microwave technology.
The Pinnacle Capital Finance loan is structured with the ability to deem eligible account debtor concentrations up to 75% as a result of large orders related to their military and aerospace customer base. This funding flexibility enables the company to leverage its accounts receivable and preserve other dilutive forms of capital to fund its R&D efforts.
“It was a pleasure to work with such a seasoned team of professionals who are building their second start-up tech company after successfully having founded and sold a prior business,” Kevin O’Hare, president of the Pinnacle Capital Finance, said. “The prior being VC funded and the latter being capitalized via a waterfall of sophisticated private capital, which made for some lengthy and elaborate intercreditor negotiations.”
