Avidbank Corporate Finance Provides $1,500,000 in Senior Debt Facilities to November Research Group

  Avidbank Corporate Finance Provides $1,500,000 in Senior Debt Facilities to
  November Research Group

Business Wire

PALO ALTO, Calif. -- February 27, 2014

Avidbank Corporate Finance, a Division of Avidbank that specializes in
technology and asset-based funding, has provided November Research Group, LLC,
$1,500,000 in various senior debt facilities. These facilities will be used to
help the company fund its continued growth.

November Research Group delivers software tools and professional services for
medical product safety that enable life science organizations, from the
largest global pharmaceutical companies to emerging biotech and contract
research organizations, to improve patient and public safety. With a presence
in the US, India and Japan, they are commonly recognized as a leader in the
drug safety and pharmacovigilance field.

“I am pleased we were able to put these facilities in place for November
Research Group,” stated Avidbank Corporate Finance Executive Vice President,
Mike Hansen. “As a leader in their industry, they are the type of business our
corporate finance division is looking to fund. We look forward to a long and
mutually beneficial relationship.”

Seth Warhaftig, President of November Research Group, commented, “The ability
to establish these types of credit facilities signals the progress that
November Research Group has made and the sustainability of our growing
business. These facilities will provide us with the flexibility to meet any
potential liquidity needs as we continue to aggressively grow our business. We
are excited to establish this partnership and are looking forward to a
long-term relationship with Avidbank.”

About Avidbank

Avidbank Holdings, Inc. (OTCBB: AVBH), headquartered in Palo Alto, California,
offers innovative financial solutions and services. We specialize in the
following markets: commercial & industrial, corporate finance, asset-based
lending, real estate construction and commercial real estate lending, and real
estate bridge financing. Avidbank advances the success of our clients by
providing them with financial opportunities and serving them as we wish to be
served – with mutual effort, ingenuity and trust – creating long-term banking
relationships.

About November Research Group

November Research Group provides software products and professional services
for medical product safety to life science organizations. Their mission is to
enable the global health science industry to improve public and patient
safety.

Contact:

Avidbank
Steve Leen, 650-843-2204
Chief Financial Officer
www.avidbank.com
 
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