This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

DecisionPoint Systems Secures Improved Terms Through New Line Of Credit Arrangement From Silicon Valley Bank





IRVINE, Calif., March 5, 2013 /PRNewswire/ -- DecisionPoint™ Systems, Inc. (OTCBB: DPSI), a leading provider and integrator of Enterprise Mobility and Wireless Applications, announced today that it has secured a new $10 million line of credit arrangement from Silicon Valley Bank (SVB).

The new financing arrangement extends the existing $10 million line of credit with SVB through February 2015 with improved terms.  The improved terms include a lower interest rate than the predecessor line of credit, which interest rate may be further decreased based upon future performance metrics.   In addition, the new arrangement also includes provisions for a $1 million term loan with a three-year amortization and a lower interest rate than prior term loans, further increasing the Company's cash availability and financial flexibility.

"This enhanced credit line is a two-year facility which will be used as a key tool in our working capital management program to continue funding the Company's growth," said DecisionPoint CEO Nicholas R. Toms. "Silicon Valley Bank has been a great partner to us and we are pleased to be expanding our relationship with them."

"As DecisionPoint continues to grow, we are pleased to offer the financial resources, products and services that will help the company reach its goals," said Victor Le, Vice President of Silicon Valley Bank in Irvine, CA. "Our innovative clients keep pushing the boundaries of what is possible and we're proud to have the opportunity to help the team at DecisionPoint succeed."

About Silicon Valley Bank Silicon Valley Bank is the premier bank for technology, life science, cleantech, venture capital, private equity and premium wine businesses. SVB provides industry knowledge and connections, financing, treasury management, corporate investment and international banking services to its clients worldwide through 28 U.S. offices and six international operations.  (Nasdaq: SIVB) www.svb.com.

Silicon Valley Bank is the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB Financial Group is also a member of the Federal Reserve System.

About DecisionPoint™ Systems, Inc. DecisionPoint Systems, Inc. delivers improved productivity and operational advantages to its clients by helping them move their business decision points closer to their customers.  The Company does this by making enterprise software applications accessible to the front-line worker anytime, anywhere utilizing the latest wireless, mobility, and RFID technologies.

For more information on DecisionPoint Systems visit  www.decisionpt.com

Contacts:

DecisionPoint Systems, Inc. Nicholas R. TomsChief Executive Officer(973) 489-1425

Silicon Valley Bank Carrie MerrittPublic Relations Director(503) 574-3705

Allen & Caron, Inc.  Rudy Barrio (investors) r.barrio@allencaron.com(212) 691-8087

Len Hall (media) len@allencaron.com(949) 474-4300

SOURCE DecisionPoint Systems, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,979.13 +59.54 0.35%
S&P 500 1,986.51 +4.91 0.25%
NASDAQ 4,526.4820 -1.0320 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs