Solar Power Inc., a vertically integrated solar energy solution provider, has signed a commitment letter with Bridge Bank N.A., a subsidiary of Bridge Capital Holdings, for a $3 million asset-based line of credit secured by the company's accounts receivable and customer-assigned utility rebates. The funds will be used for general working capital, the company says.
‘We are excited about this partnership with Bridge Bank,’ says Steve Kircher, CEO of Solar Power. ‘This line of credit will help provide the necessary resources for the continued growth of our solar business, and will be used to fund additional factory output to meet anticipated demand.’
SOURCE: Solar Power Inc.
