Deal Announcements

Akeena Solar Increases Credit Line Capacity

Thursday, December 27, 2007 6:14:00 AM PDT | VentureDeal Staff

LOS GATOS, CA -- Solar design company Akeena Solar, Inc. (Nasdaq: AKNS) announced that it has come to an agreement with its existing lender, Comerica Bank, to increase its credit line from $7.5 million to $25 million.

A large portion of the additional funding capacity will be available for borrowing on a non-formula basis, with a smaller portion reserved for borrowing against accounts receivable and inventory levels.

Akeena designs and installs residential and small commercial solar power systems in the United States.  The company was founded in 2001.

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