Microcoating Technologies Secures $2 Million Line of Credit2/14/2003 02:00:00 AM Client News
ATLANTA, GA, February 14, 2003 — MicroCoating Technologies, Inc., an industry leader providing open atmosphere, thin film coatings used in components of electronics and advanced energy, announced today it secured a $2 million credit facility from Silicon Valley Bank, a subsidiary of Silicon Valley Bancshares (SIVB). The new line of credit will be used to finance equipment.
"Silicon Valley Bank was a logical financier for a company in our complex industry, given its expertise and history in the technology arena," said Dr. Andrew Hunt, CEO of MicroCoating Technologies. "Embarking on a new financial relationship with SVB was easier than we could have anticipated, thanks to the bank's understanding of MCT and particularly its goals and challenges."
"One of the best things about banking technology companies is the opportunity to work with the developers of incredible inventions, such as MicroCoating Technologies," said Alan Spurgin, senior vice president, Silicon Valley Bank. "We look forward to a long-term relationship in which we can support MCT with our full suite of banking services as its business continues to expand."
About MicroCoating Technologies
MicroCoating Technologies, headquartered in Atlanta, GA, is an intellectual property company and a manufacturer of products with advanced thin film coatings and nanomaterials. Combustion Chemical Vapor Deposition (CCVD) technology along with the Nanomiser ® device, for nanopowders and coatings, were invented by founder Andrew Hunt. The CCVD process is an open atmosphere, environmentally friendly thin film process. Based on the strength of the patented CCVD technology and over 200 additional patents issued and pending, MCT has formed relationships with multiple corporate and governmental partners. For more information contact Sales at 877-628-7253 (877-MCT-SALE) or visit MicroCoating Technologies' Web site at http://www.microcoating.com.
About Silicon Valley Bank
Silicon Valley Bank serves emerging growth and mature companies in the technology and life sciences markets, as well as other targeted industries. Through its focus on specialized markets and extensive...Read More