SG Credit Partners Provides $6.5 Million to SaaS Company

Sep
16
2019

The Company: Venture-backed, cloud-based software platform primarily targeting outbound sales organizations.

The Financing Situation: The Company experienced significant year-over-year growth but the Company’s existing credit facility was maturing and the incumbent lender did not want to extend its maturity date. Additionally, the Company was seeking non-dilutive growth capital to execute on its sales pipeline and increase ARR to improve its valuation prior to raising additional equity.

The Solution: SGCP was able to quickly get comfortable given the rapid growth, contracted recurring revenue, enterprise customer base and strong management team to provide a $6.5 million senior secured credit facility that was bifurcated into a $3.5 million interest-only loan and $3 million term loan. SGCP provided this structure to close the deal quickly and to bridge the Company to a new senior lender. The new senior lender will refinance SGCP’s $3.5 million interest-only loan and SGCP will then subordinate its $3.0 million term loan under its typical second lien structure.

This transaction highlights SGCP’s ability to write larger checks as a result of its recent capital raise as well as our ability to provide a one-stop solution.


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California loans are made pursuant to SG Credit Partners, Inc.'s California Department of Corporations Finance Lender License No. 60DBO-87290. Credit approval is subject to SG Credit Partners, Inc.'s credit standards, and actual terms (including actual loan amount) may vary by applicant. SG Credit Partners, Inc. requires certain supporting documentation with each new application. Complete disclosures of APR, fees, and payment terms are provided with each loan and are available from SG Credit Partners, Inc. at 23 Corporate Plaza, Suite 100, Newport Beach CA 92660, telephone 1-800-631-2423.