SaaS Capital Provides $3.5 Million Line of Credit to iModules Software
July 31, 2012 – Overland Park, KS – iModules Software announced today that SaaS Capital, the pioneer provider of debt financing for SaaS businesses, has provided them with a $3.5 million credit facility.
iModules Software chose SaaS Capital’s growth financing over more traditional technology lenders and equity sources because the availability of the facility automatically increases as iModules Software continues to grow.
“We looked at many different financing alternatives to fund iModules’ growth including venture capital, venture debt, and commercial banks,” said Thomas Palmer, Executive Chairman of iModules. “SaaS Capital's approach was truly unique. It allows us access to the greatest amount of capital with a line-of-credit that provides us flexibility on when we borrow and when we re-pay.”
“We are pleased to be partnered with iModules Software to assist in their continued growth.” said Todd Gardner of SaaS Capital. “They have very high customer satisfaction and retention rates and are the clear leader in their space.”
About iModules Software
iModules Software provides technology solutions and services to help organizations achieve their missions and build meaningful relationships through member engagement and online communication. With more than 600 clients reaching more than 50 million constituents, iModules Software delivers Encompass with easy-to-use tools for website management, data management, email marketing, event management, online giving, membership management, volunteer fundraising, and social networking integration. An industry leader since 2002, iModules Software partners with organizations worldwide to make a difference. For more information, visit www.imodules.com.
About SaaS Capital
Founded in 2006, SaaS Capital is the pioneer provider of debt-based growth capital for SaaS companies. By leveraging the predictable revenue streams and of the SaaS business model, SaaS Capital’s debt facilities allow SaaS companies to accelerate future cash-flow streams to fund operations today. SaaS Capital’s products provide more availability than traditional bank financing, and are structured with flexible terms to meet the needs of growing SaaS businesses. Through its partnership with DH Capital, SaaS Capital can also assist with a variety of M&A and capital raising advisory services. To learn more about SaaS Capital, visit www.saas-capital.com.