Opus Bank’s Commercial Banking division provides Prosum, Inc. with a $3,000,000 credit facility to position the company for growth
Overview of Transaction
- Prosum, Inc. (“Prosum”) was founded in 1996 and is currently headquartered in El Segundo, CA.
- Prosum works with medium to large-sized U.S.-based companies to provide Microsoft® Solutions, SAP® Solutions, Managed Services, and Staffing Services. Prosum is a managed Gold Microsoft Partner® and SAP Partner™. Prosum has offices in the Los Angeles, Orange County, and Denver areas.
Significance of Transaction
- Prosum was looking to replace its previous lender with a banking partner that could support the company's growth effectively.
- Opus Bank provided $3 million of additional working capital through a formula-based line of credit to Prosum to support its planned future growth, which includes moving into a new facility as well as geographic expansion.
Opus Bank's Role
- Opus Bank worked closely with Prosum’s executive management to structure a 2-year facility that would meet the company’s near term growth plans and close quickly as its prior credit facility was nearing expiration.