PrimeRevenue Secures $4.3 Million
Comerica Credit Facility
Atlanta, GA and Reston, VA/October 29, 2004
– Comerica Bank (NYSE: CMA), a financial services company,
and PrimeRevenue, Inc. announced today that Comerica’s
Technology and Life Sciences Division has provided PrimeRevenue
with a $4.3 million line of credit.
“We are pleased to provide this credit facility to
PrimeRevenue, a company that provides automated finance solutions
to Global 2000 companies and their suppliers,” said
April Young, senior vice president and mid-Atlantic managing
director of Comerica’s Technology and Life Sciences
Division.
“Comerica’s commitment to the technology sector
is well known,” said Robert Barnes, chief executive
officer of PrimeRevenue. “Our hosted proprietary technology
drives our end-to-end managed service, and this facility will
support our continued product development, sales and marketing,
and corporate initiatives.”
About PrimeRevenue, Inc.
PrimeRevenue is a financial supply chain services company
that provides Supplier Financing, Payables Presentment and
Settlement solutions to Global 2000 companies and their suppliers.
Our program delivers immediate, significant and measurable
bottom-line benefits and working capital improvements. When
PrimeRevenue is part of a company’s financial supply
chain strategy, costs are reduced, profitability is improved
and trading relationships are enhanced. Headquartered in Atlanta,
Georgia, PrimeRevenue has offices and customers throughout
the world. For more information, visit www.primerevenue.com.
About Comerica Bank's Technology and Life Sciences
Division
Comerica's Technology and Life Sciences Division
is one of the nation's leading technology banking practices,
offering a wide range of financial services tailored to corporate
customers, entrepreneurs and professionals. Veteran bankers
provide credit and financial services and products to young,
growing, professionally backed technology and life sciences
companies, as well as their more mature counterparts. The
Technology and Life Sciences Division serves all major U.S.
technology centers from offices coast-to-coast. Comerica is
among the 20 largest banking companies in the nation, with
$53 billion in total assets as of September 30, 2004.
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