Avidbank Provides NTN Buzztime, Inc. With $4 Million Term Loan Refinance
SAN JOSE, Calif.--(BUSINESS WIRE)--Nov 20, 2018--Avidbank Specialty Finance, a Division of Avidbank that specializes in technology, sponsor finance and asset-based lending, has refinanced a $4 million term loan for NTN Buzztime, Inc. (Buzztime) to provide the company with a more flexible financing structure.
Founded in 1984 and headquartered in Carlsbad, California, Buzztime licenses interactive entertainment, performance analytics, customized menus and self-service dining features including secure payment EMV®, Apple, Android, and Samsung Pay for use in casual dining, bars, senior living, and other business services.
“Our team was pleased to help Buzztime adapt their loan structure to allow them more flexibility,” said Larry LaCroix, Executive Vice President and Head of Avidbank’s Specialty Finance Division. “We look forward to building this relationship long-term and being a strategic banking partner for Buzztime.”
“We are happy to enter into this relationship with Avidbank, and the transition has been very smooth. The bankers understand our business goals, and we feel they are a great partner to help us accomplish them,” said Allen Wolff, Buzztime’s Chief Financial Officer and Executive Vice President.
Avidbank Holdings, Inc. (OTC Pink: AVBH), headquartered in San Jose, California, offers innovative financial solutions and services. We specialize in commercial & industrial lending, technology and 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 NTN Buzztime
Buzztime (NYSE American: NTN) delivers interactive entertainment and innovative technology, including performance analytics and secure payments. Most frequently used in bars and restaurants in North America, the Buzztime tablets and technology offer engaging solutions to establishments such as casinos, senior living, and more. Casual dining venues license Buzztime’s customizable solution to offer guests trivia, card, sports and arcade games, customized menus and self-service dining features. For more information, please visit or follow us on or @buzztime.
View source version on businesswire.com:https://www.businesswire.com/news/home/20181120005048/en/
Steve Leen, Chief Financial Officer
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE
SOURCE: Avidbank Holdings, Inc.
Copyright Business Wire 2018.
PUB: 11/20/2018 06:00 AM/DISC: 11/20/2018 06:01 AM