Bridge Bank Issues $ 10 Million Asset Line of Credit to Shippabo | national news

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SAN JOSE, California, 28 October 2021 / PRNewswire / – Bridge Bank today announced that its Capital Finance group has issued a $ 10 million asset-based line of credit to Shippabo, a cloud-based supply chain management platform serving the shipping and logistics industries.

Shippabo, based in Los Angeles, will use the line of credit on assets to support working capital needs and finance its growth. Shippabo is a logistics technology company that has developed an online freight management application that helps import and export companies control their shipping process. It partners with domestic and foreign logistics companies such as carriers, freight forwarders, customs clearance operators, freight warehouses, and trucking and billing companies. The company’s customers include QVC, Cornerstone Brands, Golf Gift Gallery and JR286.

“Bridge Bank is pleased to support a wide range of technology and innovation companies nationwide with customized financing and banking solutions,” said Roger klarmann, senior vice president of Bridge Bank. “Shippabo is precisely the kind of innovative company that Bridge Bank is proud to work with.

“We are proud to work with such a skilled team of bankers at Bridge Bank,” said Nina luu, Managing Director of Shippabo. “Their expertise in working with growing innovative companies like ours gives us an additional level of confidence. “

Bridge Bank’s Capital Finance group offers a range of asset-based and factoring solutions, including accounts receivable, inventory and invoice financing, to provide lines of credit and working capital. The group’s expertise supports companies in manufacturing, professional services, retail, technology and more that experience unusual market conditions that may hamper their ability to meet covenants and debt structures. traditional credit.

About Bridge Bank

Bridge Bank, a division of Western Alliance Bank, a member of the FDIC, helps corporate clients achieve their ambitions. Founded in 2001 in Silicon Valley, Bridge Bank offers a better way to bank for small and medium businesses across many industries, as well as for emerging technology companies and the private equity community. Aimed at serving both venture capital and non-venture capital funded businesses, Bridge Bank offers a wide range of financial solutions, including credit facilities for capital, equipment and working capital. , risk debt, cash management, asset lending, SBA and commercial real estate. loans, ESOP financing and a full range of international products and services. Situated at San jose, Bridge Bank has 16 offices in major markets across the country as well as Western Alliance Bank’s powerful portfolio of specialized financial services. Western Alliance Bank is the main subsidiary of Phoenixbased at Western Alliance Bancorporation, with over $ 50 billion in assets. Western Alliance is once again # 1 of the 50 largest US public banks in the new S&P Global Market Intelligence list for 2020 and tops the Forbes list of “America’s best banks” year after year. For more information visit bridgebank.com.

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SOURCE Bridge Bank


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