SAN FRANCISCO, Sept. 03, 2019 (GLOBE NEWSWIRE) — Business Capital (BizCap) structured and delivered a credit facility to Innominds Software, Inc., (Innominds) a provider of convergent design, technology and engineering solutions that accelerate digital transformation and growth for its enterprise clients, which include large blue chip technology companies. Innominds is the only product engineering services company capable of integrating devices, applications and analytics. The Company has been in business since 1998 with engineering operations and strategic partnerships spanning the globe. “This engagement was challenging, as we effectively navigated issues associated with international and domestic expansion on behalf of Innominds and operated within tight timelines,” said Chuck Doyle, Managing Director of Business Capital.
The new financing facility provided more aggressive advance rates, as well as a less restrictive structure which will supply ample working capital to drive profits and growth. “This transaction has allowed our company to continue to invest for growth,” commented Divakar Tantravahi, Chairman and CEO, Innominds Software. “BizCap efficiently navigated a complex process and provided timely support with a network of relationships.”
Financial terms of the transaction were not disclosed.
Business Capital is a leading commercial finance firm specializing in securing customized non-dilutive credit based solutions for rapidly growing as well as challenged middle market companies nationwide who require a unique, timely and tailored financing structure to address their particular needs, especially in special situations.