GetBusy PLC said Monday it has signed a 2 million pound ($2.5 million) loan facility with Silicon Valley Bank to execute its accelerated investment plans for SmartVault, and that trading has been robust since the half year. The AIM-listed developer of document-management and productivity software said it has secured the three-year facility for general working capital purposes, and to further develop its SmartVault document management and portal software. It carries covenants based on recurring revenue levels and liquidity coverage, and is secured against the company's assets and intellectual property in the U.S., U.K. and Australia.

Source: Wall Street Journal September 28, 2020 06:33 UTC