Bridge Bank Provides $10 Million Credit Facility to Spark Networks
(firmenpresse) - LOS ANGELES, CA -- (Marketwired) -- 02/09/16 -- Bridge Bank announced today that it has provided Spark Networks, Inc. (NYSE: LOV) with a $10 million revolving credit facility. Spark Networks is a leader in creating communities that help individuals form life-long relationships. Spark's core properties, JDate®.com () and ChristianMingle®.com (), are communities geared towards singles of the Christian and Jewish faiths.
"We're very pleased to have the opportunity to work with the team at Spark Networks," said Mark Breneman, senior vice president in Bridge Bank's Southern California Technology Finance Group. "They have made tremendous strides in a short period of time to re-launch their iconic brands to the market. We look forward to supporting their continued success," added Breneman.
"We're excited by the growth opportunities associated with the re-launch of our iconic brands and it is important to us to partner with a technology-focused bank that understands our situation and can work alongside us," said Michael Egan, chief executive officer at Spark Networks. "Bridge Bank's Southern California team really took the time to appreciate our new business model and delivered a customized financial solution that is a great fit for us," he added.
The Spark Networks portfolio of consumer Web sites includes, among others, JDate®.com (), ChristianMingle®.com (), Spark®.com (), BlackSingles.com® (), and SilverSingles®.com ().
Bridge Bank is a division of Western Alliance Bank, the go-to-bank for business in its growing markets. Bridge Bank was founded in 2001 in Silicon Valley to offer a better way to bank for small-market and middle-market businesses from across many industries, as well as emerging technology companies and the private equity community. Geared to serving both venture-backed and non-venture-backed companies, Bridge Bank offers a broad scope of financial solutions including growth capital, equipment and working capital credit facilities, sustainable energy project finance, venture debt, treasury management, asset-based lending, SBA and commercial real estate loans, ESOP finance and a full line of international products and services. Based in San Jose, Bridge Bank has eight offices in major markets across the country along with Western Alliance Bank's robust national platform of specialized financial services. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation. With more than $14 billion in assets, Western Alliance Bancorporation (NYSE: WAL) is one of the fastest-growing bank holding companies in the U.S. For more information, visit .
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Datum: 09.02.2016 - 11:00 Uhr
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News-ID 449421
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Commercial & Investment Banking
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