T/R Systems Secures $2 Million Credit Facility from Silicon Valley Bank
Press release from the issuing company
NORCROSS, Ga. & SANTA CLARA, Calif.--Feb. 12, 2003--T/R Systems, Inc. (TRSI), a leader in developing innovative solutions for the management and production of digital documents, and Silicon Valley Bank (SVB), a subsidiary of Silicon Valley Bancshares (SIVB), announced today that SVB extended a $2 million line of credit to T/R Systems. The credit facility will be used as additional working capital in support of T/R Systems' growth objectives.
"Silicon Valley Bank's continued relationship with T/R Systems is a valued endorsement of our strategies and our financial strength," said Lyle Newkirk, Senior Vice President and Chief Financial Officer of T/R Systems. "Although we have no anticipated need, this credit facility gives us added flexibility for growth in a challenging economic environment."
"It's exciting to work with a technology company like T/R Systems that is on the leading edge of its industry and is helping a variety of customers worldwide to alter the way they do business," said Alan Spurgin, senior vice president, Silicon Valley Bank. "Through our ongoing relationship with T/R Systems, we are able to provide financing of this nature in addition to our full range of banking products and services specifically tailored for up-and-coming as well as established technology companies."
WhatTheyThink is the global printing industry's leading independent media organization with both print and digital offerings, including WhatTheyThink.com, PrintingNews.com and WhatTheyThink magazine versioned with a Printing News and Wide-Format & Signage edition. Our mission is to provide cogent news and analysis about trends, technologies, operations, and events in all the markets that comprise today’s printing and sign industries including commercial, in-plant, mailing, finishing, sign, display, textile, industrial, finishing, labels, packaging, marketing technology, software and workflow.