Bridge Bank Extends $2MM Credit Facility to Miva, Inc.
September 03, 2020
Costa Mesa, Calif.
Bridge Bank today announced it has extended a credit facility to Miva, Inc., a San Diego-based e-commerce software and service provider for mid-size and enterprise merchants, offering flexible, agile solutions that drive online sales. The new credit facility will be used to fund working capital needs and support growth initiatives.
“The team at Bridge Bank understands our business model and what we needed to help stoke the next stage of our growth,” said Rick Wilson, chief executive officer of Miva. “They delivered a customized financial solution that met our needs and will assist with our growth.”
“Miva’s mission is to empower independent sellers to control their destiny and thrive,” said Mark Breneman, senior vice president in Bridge Bank’s Southern California Technology Banking Group. “Their vision aligns with the entrepreneurial spirit of Bridge Bank and we were able to craft a specialized credit facility giving Miva the tools needed to remain in control as they move forward in their continued growth.”
Since 1997, Miva has delivered expertly-designed ecommerce solutions to help high-growth businesses serve their customers in the most innovative, forward-thinking ways possible. Miva stores deliver superior online shopping experiences and support sophisticated back-end ecommerce workflows. Miva is the only cloud-based platform that provides a reliable and expandable enterprise ecommerce solution from a single source. Miva owns and maintains the Miva Merchant software and cloud-based hosting environment. Visit miva.com for more information.
Bridge Bank, a division of Western Alliance Bank, Member FDIC, helps business clients realize their ambitions. Founded in 2001 in Silicon Valley, Bridge Bank offers a better way to bank for small to mid-market businesses across many industries, as well as emerging technology companies and the private equity community. Geared to serving both venture-backed and non-venture-backed companies, Bridge Bank delivers a broad scope of financial solutions, including startup banking, capital, equipment and working capital credit facilities, venture debt, treasury management, asset-based lending, SBA and commercial real estate loans and a full line of international products and services. Based in San Jose, Bridge Bank has 16 offices in major markets across the country, along with Western Alliance Bank’s powerful array of specialized financial services. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation, with more than $50 billion in assets. Western Alliance is again #1 best-performing of the 50 largest public U.S. banks in the S&P Global Market Intelligence listing for 2020 and ranks high on the Forbes “Best Banks in America” list year after year.