Chicago, IL
-- April 25, 2001 -- Silicon Valley Bank, a wholly owned
subsidiary of Silicon Valley Bancshares, announced it granted
Interactive Information Service Inc. (IIS) a $3.5 million line
of credit with $500,000 term loan amortized over 30 months.
IIS, a company integrating interactive voice
response and Internet technologies with media services, will be
using the financing for working capital purposes.
"Interactive Information Service, Inc. is
delighted with our new relationship with Silicon Valley Bank,"
said Jeffrey Williams, CEO of IIS. "This is a substantial
upgrade in the quality of our banking relationship, and we
believe we now have a true financial partner to help advise and
guide our company's future. This significant enhancement in our
credit availability will allow us to self-fund our asset
deployment and organic growth plans."
"Silicon Valley Bank serves emerging growth
companies that are establishing themselves as market leaders,"
said Brent Donnell, manager of Silicon Valley Bank's Chicago
office. "Interactive Information Service is a recognized leader
in the integration of interactive voice response and Internet
technologies with media services. IIS' high quality customer
base and the long-term relationships that IIS had established
with many of those customers impressed us. We have a high level
of confidence in management's ability to execute its growth
strategy."
About Interactive Information Service, Inc.
Interactive Information Service, Inc.
(www.iiserve.com) is a developer of application software that
utilizes both Internet technology and Interactive Voice
Response (IVR) systems to provide solutions for human resource
departments of Fortune 1000 companies worldwide. Specifically,
utilizing its world-class software development facilities and
award-winning, full service recruitment advertising agency, IIS
assists major corporate staffing departments in soliciting,
screening and scheduling candidate interviews for a wide
variety of positions. The Company has a proven track record in
providing its customers a flow of pre-qualified candidates and
related information collected during the recruitment process.
Through its proprietary products, IIS also provides the unique
capability for all companies to centrally manage recruitment
advertising activities and related performance metrics on a
real-time basis. The Company also provides automated employee
benefits election and enrollment services.
About Silicon Valley Bank
Silicon Valley Bank serves emerging growth and
middle market companies in targeted niches, focusing on
technology and life sciences, while also addressing other
specific industries in which it can provide a higher level of
service and better manage credit through specialization and
focus.
The Bank operates throughout the Silicon Valley: Santa
Clara, Palo Alto and Sand Hill, the center of the venture
capital community in California. Other regional offices within
California include: Irvine, Los Angeles, Napa Valley, San
Diego, San Francisco, Santa Barbara, and Sonoma. Office
locations outside of California include: Phoenix, Arizona;
Boulder, Colorado; West Palm Beach, Florida; Atlanta, Georgia;
Chicago, Illinois; Boston, Massachusetts; Minneapolis,
Minnesota; Durham, North Carolina; Portland, Oregon;
Philadelphia, Pennsylvania; Austin, Texas; Dallas, Texas;
Northern Virginia; and Seattle, Washington.
SVB Contact:
Andrea McGhee, (408) 654-3078, amcghee@svbank.com.