BizCap Facilitates CodeScience's Multimillion-Dollar Line of Credit

SAN FRANCISCO--(BUSINESS WIRE)--May 24, 2023--

BizCap®, a commercial finance firm established in 2002, is proud to announce its successful collaboration with CodeScience, an independent software development and services vendor specializing in developing bespoke, top-performing Salesforce applications and enterprise solutions since 2008. Despite the tightening credit markets and increasing uncertainty within the software industry, BizCap secured CodeScience a multimillion-dollar asset-based line of credit, exemplifying its commitment to assisting businesses in achieving their financial objectives.

CodeScience had experienced difficulties in securing cost-effective financing independently. BizCap effected a rapid turnaround within one month and CodeScience received multiple debt offers, each with significantly lower costs of capital. The partnership with BizCap provided the company superior financial solutions which will allow them to continue delivering cutting-edge software solutions while fueling its expansion plans.

"The support we received from BizCap was a game-changer for us,” said Michael Witherspoon, Founder, and President of CodeScience. “Their expertise and dedication secured us financing with highly favorable terms and saved us valuable time and resources, I only wish we had engaged with BizCap earlier in our financing journey."

Cooper Brown of BizCap expressed his enthusiasm for the successful partnership, stating, "The BizCap team is thrilled that CodeScience trusted us to deliver a credit facility on their behalf allowing them to optimize capital structure and unlock new growth opportunities. It was a pleasure collaborating with goal-oriented and customer-focused counterparts,” he said.

About BizCap

BizCap® (Business Capital since 2002) is a time-tested national commercial finance and advisory firm specializing in securing customized non-dilutive credit-based solutions for rapidly growing as well as challenged middle market companies nationwide who require unique, timely and tailored financing structures to address their particular needs, especially when conventional sources of capital are not an option. BizCap is a proud supporter of Team IMPACT, a national nonprofit that connects children facing serious and chronic Illnesses with local college athletic teams, forming life-long bonds and life-changing outcomes.

View source version on businesswire.com:https://www.businesswire.com/news/home/20230524005244/en/

CONTACT: Media Contact: Kylie Whetsel,[email protected]

Business Inquiries: Chuck Doyle,[email protected]

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: TECHNOLOGY FINANCE SECURITY OTHER TECHNOLOGY PROFESSIONAL SERVICES SMALL BUSINESS SOFTWARE DATA MANAGEMENT OTHER PROFESSIONAL SERVICES

SOURCE: BizCap

Copyright Business Wire 2023.

PUB: 05/24/2023 09:32 AM/DISC: 05/24/2023 09:30 AM

http://www.businesswire.com/news/home/20230524005244/en

 

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