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Bridge Bank Provides $500,000 Financing to Deaf-Owned Convo Communications - MarketWatch
Bridge Capital Holdings /quotes/comstock/15*!bbnk/quotes/nls/bbnk (BBNK 8.85, -0.16, -1.78%) , whose subsidiary is Bridge Bank, National Association, a full service professional business bank headquartered in Silicon Valley, announced today it has extended a $500,000 line of credit to Convo Communications to support its anticipated growth.
"With this financing, the Company can make capital purchases and spending as to scale its operations commensurate with anticipated growth, all without assistance from outside investors," said Robin Horwitz, who is deaf and the CEO of Convo. "This loan will allow us to both maintain our independence and identity as a deaf-owned company and at the same time allows us to better compete in the market."
Convo is a provider of 24/7 video relay services (VRS), which enable deaf and hard of hearing people who use sign language to convo with hearing people via phone by utilizing true-to-life video connection with specially trained sign language interpreters. It recently launched Convo Anywhere, a cloud-based Web application that is a major addition to its product and service offerings. "Convo Anywhere is a leap forward in accessibility and is quickly becoming our signature product. Accordingly, we anticipate tremendous growth in Year 2011 and are grateful to Bridge Bank for their support and creativity in making this funding possible," said Horwitz.
"Convo is a one-of-a-kind company in its sector and commands the respect of industry analysts, customers, and other deaf-owned businesses," said Lyndon Conaway, Assistant Vice President, Bridge Capital Finance Group. Convo was founded in March 2009 and has since grown to four call centers and gross revenues close to $4 million for 2010.
Bridge Capital Holdings /quotes/comstock/15*!bbnk/quotes/nls/bbnk (BBNK 8.85, -0.16, -1.78%) , whose subsidiary is Bridge Bank, National Association, a full service professional business bank headquartered in Silicon Valley, announced today it has extended a $500,000 line of credit to Convo Communications to support its anticipated growth.
"With this financing, the Company can make capital purchases and spending as to scale its operations commensurate with anticipated growth, all without assistance from outside investors," said Robin Horwitz, who is deaf and the CEO of Convo. "This loan will allow us to both maintain our independence and identity as a deaf-owned company and at the same time allows us to better compete in the market."
Convo is a provider of 24/7 video relay services (VRS), which enable deaf and hard of hearing people who use sign language to convo with hearing people via phone by utilizing true-to-life video connection with specially trained sign language interpreters. It recently launched Convo Anywhere, a cloud-based Web application that is a major addition to its product and service offerings. "Convo Anywhere is a leap forward in accessibility and is quickly becoming our signature product. Accordingly, we anticipate tremendous growth in Year 2011 and are grateful to Bridge Bank for their support and creativity in making this funding possible," said Horwitz.
"Convo is a one-of-a-kind company in its sector and commands the respect of industry analysts, customers, and other deaf-owned businesses," said Lyndon Conaway, Assistant Vice President, Bridge Capital Finance Group. Convo was founded in March 2009 and has since grown to four call centers and gross revenues close to $4 million for 2010.