Bridge Bank Extends $2MM Credit Facility to Miva, Inc.
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, delivers relationship banking that puts clients at the center of everything. Founded in 2001 in Silicon Valley, Bridge Bank offers a full spectrum of tailored business banking solutions throughout the Bay Area and has specialized expertise focused on life sciences and technology and innovation companies, at every stage in their life cycle, through its offices in major tech hubs across the country. Bridge Bank also serves the private equity and venture capital communities and provides business escrow services. Bridge Bank is part of Western Alliance Bancorporation, which has more than $65 billion in assets and ranked #1 among top-performing large banks with assets greater than $50 billion in 2021 by both American Banker and Bank Director. As a regional bank with significant national capabilities, Bridge Bank delivers the reach, resources and local market expertise that make a difference for customers.