SAN JOSE, Calif.–(BUSINESS WIRE)–Avidbank Specialty Finance, a Division of Avidbank that specializes in technology, sponsor finance and asset-based lending, has provided Envoy Group with combined credit facilities of $5.5 million to provide working capital.
Based in Irvine, California, and founded in 2010, the Envoy Group is a full-service design and innovation consultancy. The credit commitment totaling $5.5 million will be used to support the Company’s growth.
“We are very excited about our new banking and lending partnership with Envoy Group,” said Darryl Karmen, Senior Vice President of Avidbank. “We look forward to seeing our new client build on its success and enter its next phase of growth in the fast-paced and dynamic digital media industry.”
“We value the relationship we have developed with Avidbank,” said Kevin Bauer, Envoy Group’s President. “This new partnership will enable Envoy to implement the growth and innovation plan we’ve put into place.”
Avidbank Holdings, Inc. (OTC Pink: AVBH), headquartered in San Jose, California, offers innovative financial solutions and services. We specialize in commercial & industrial lending, venture lending, structured finance, asset-based lending, sponsor finance, real estate construction and commercial real estate lending. Avidbank provides a different approach to banking. We do what we say.
About The Envoy Group
The Envoy Group offers full-service creative solutions consultation for businesses looking to establish, improve, or overhaul their brand’s perception to customers. The Company focuses on brand management, strategy, marketing, and technology in addition to website development and digital marketing services. The secret-sauce in Envoy’s approach is the aim of connecting brands with consumers and integrating their design and use of technology with the clients’ business strategy.
Steve Leen, Chief Financial Officer