SGCP Provides $2.0 Million to Cloud Storage Provider


The Company:
Non-VC/sponsor backed cloud-based video storage provider for smart home devices.
Revenue: $10mm+ run rate | EBITDA: Break-even

The Financing Situation:
The Company was searching for a non-dilutive capital solution to help finance continued growth – customer acquisition costs and new data center facility capex.  Bank financing was not an option given a combination of the Company’s non-institutional ownership and current financial performance.  ABL financing was not an option given the Company’s direct-to-consumer model.

The Solution:
SGCP was able to get comfortable with the Company’s lack of historical profitability given the growing monthly recurring revenue, data center assets, and dedicated entrepreneur. SGCP provided a non-dilutive $2.0 million senior secured loan that will enable the Company to continue rapid growth while preserving existing shareholder equity.


Copyright © 2020 SGCP. All rights reserved.

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 1-800-348-0232.