Opus Bank’s Commercial Banking division provides a $3,500,000 line of credit to PlanNet Consulting, LLC to support the company’s continued growth
Overview of Transaction
- Founded in 2001 and based in Brea, CA, PlanNet Consulting, LLC (“PlanNet”) is a professional services and construction firm that provides advisory, design, engineering, project management, and construction services supporting critical IT infrastructure.
- PlanNet has developed a diverse and rapidly growing clientele, which includes hundreds of large and middle-market companies and institutions across the United States and abroad.
Significance of Transaction
- Due to a significant expansion of services, including the establishment of PlanNet as a construction firm, PlanNet has experienced 100% growth over the last four years. As a result, PlanNet was looking to establish a partnership with a bank that would be responsive to their continued projected growth.
- Opus Bank (“Opus”) was able to provide an Asset-Based Line of Credit with a larger borrowing base.
- The expanded credit facility will allow PlanNet to continue the growth of their team and establish new offices in Dallas, Texas and Northern Virginia to better serve PlanNet’s clients.
Opus Bank's Role
- Opus worked with PlanNet’s management team to quickly determine the best financing structure that would allow for the most flexibility to support the company’s continued growth.