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NWP Services Signs On New Venture Debt Funding

Monday, June 16, 2008 5:58:00 AM PDT | VentureDeal Staff

Irvine, California -- Financial services company NWP Services announced that it has received $11.5 million in venture debt commitments from two venture lenders.

NWP is a provider of utility billing, energy management, customer care and information services for multifamily real estate and utility related industries.

ORIX Venture Finance provided a $7.5 million venture term loan commitment and Comerica Bank provided a $4 million line of credit facility. 

The company said the new financing would enable it to reduce costs through preferred rates strengthen its overall financial position and gain access to additional resources in preparation for future growth and acquisitions.

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