SAN JOSE, Calif.--(BUSINESS WIRE)--
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.
About Avidbank
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 http://www.buzztime.com or
follow us on Facebook or Twitter @buzztime.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181120005048/en/
Avidbank
Steve Leen, Chief Financial Officer
(408) 831-5653
www.avidbank.com
Source: Avidbank Holdings, Inc.