Paradigm Solutions Secures A $12.5 Million Line of Credit With SVB Silicon Valley Bank
|
| ROCKVILLE, Maryland — April 12, 2007 — Paradigm Holdings, Inc. (OTCBB:PDHO) (Paradigm), a provider of comprehensive information technology and business solutions for government enterprises, announced today it has secured a $12.5 million loan from SVB Silicon Valley Bank. The financing, which closed on March 13, 2007, will be used for working capital and to support Paradigm's growth plans. SVB Silicon Valley Bank is the commercial banking arm of SVB Financial Group (Nasdaq: SIVB).
“As we continue to execute our growth strategy, focusing on the federal government IT solutions marketplace, we need a partner that not only understands our business but is also committed to supporting our growth trajectory — Silicon Valley Bank meets these requirements and is the right partner for us now and into the future,” said Peter B. LaMontagne, President and CEO of Paradigm.
“We are pleased to begin this new relationship with Paradigm,” said Sean Stone, senior relationship manager in SVB Silicon Valley Bank's Northern Virginia office. “Our experience in working with technology companies at all stages will allow SVB to support Paradigm in meeting its most ambitious goals now and in the years to come.” About Paradigm Holdings, Inc.
Paradigm Holdings, Inc., (www.paradigmsolutions.com) parent company of Paradigm Solutions Corporation, is a comprehensive information technology and business solutions provider for government enterprises. Paradigm Solutions Corporation specializes in Enterprise Risk Management, Systems Engineering, Infrastructure Support, and Program Management for government customers. Headquartered in Rockville, Maryland, the company currently employs nearly 300 people across 12 states.
About SVB Silicon Valley Bank SVB Silicon Valley Bank provides commercial banking services to emerging growth and mature companies in the technology, life science, private equity and premium wine industries. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, SVB Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients' success. Founded in 1983 and headquartered in Santa Clara, Calif., the company serves clients around the world through 27 U.S. offices and three international operations. SVB Silicon Valley Bank is a member of global financial services firm SVB Financial Group, with SVB Alliant, SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services. More information on the company can be found at www.svb.com.
SVB Silicon Valley Bank refers to Silicon Valley Bank, the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve. SVB Private Client Services is a division of Silicon Valley Bank. SVB Financial Group is also a member of the Federal Reserve.
Contact: Carrie Merritt SVB Financial Group 503.574.3705 cmerritt@svb.com
Meghan O'Leary SVB Financial Group 408.654.6364 moleary@svb.com |
|