Square 1 Bank Announces Credit Facility to DirectScale
14 August 2018 - 3:00PM
Square 1 Bank, a division of Pacific Western Bank, today announced
that it has provided a $2 million credit facility to new client
DirectScale, a cloud-based software platform that supports direct
and social selling companies and their salesforce. Proceeds from
the facility will support continued growth initiatives.
Based in Lindon, Utah, DirectScale’s platform
provides direct and social selling businesses ecommerce tools to
drive sales, communication solutions to keep teams connected and
reporting capabilities to track KPIs and sales commissions. The
user-friendly technology offers users the ability to extend
functionality through third party customizations and integrations.
Other features include social media management, training modules
and resource libraries, and prospecting tools. DirectScale is
backed by several leading investors including Grotech Ventures,
Kickstart Seed Fund and Origin Ventures.
“We’re working to transform the way companies do
business in the industry and offer them the type of solution that
simply hasn’t been available in the past,” said Rodger Smith, CEO
of DirectScale. “We are thrilled to have Square 1 as a financial
services partner that shares our vision to succeed in our mission
and are looking forward to many great things to come as a
result.”
“We are excited to support DirectScale and its
mission to provide a fully customizable, intuitive solution for the
rapidly growing direct and social selling space,” added AJ Dye,
vice president of Square 1’s technology banking practice.
“DirectScale joins a growing list of companies Square 1 works with
in Utah, a market that is booming with innovation and activity. We
look forward to working with DirectScale’s impressive team and
investors and continuing to expand our footprint in the area.”
About Square 1 BankSquare 1 Bank
is a division of Pacific Western Bank, a Los Angeles-based
commercial bank with over $24 billion in assets. A full service
financial services partner to entrepreneurs and their investors,
Square 1 provides clients flexible resources and attentive service
to help their companies grow. Square 1 offers a broad range of
venture debt, treasury and cash management solutions through
offices in top innovation centers: Atlanta, Austin, the Bay Area,
Boston, Chicago, Denver, Durham, Los Angeles, Minneapolis, New
York, San Diego, Seattle, and Washington, DC. Pacific Western Bank
is a wholly-owned subsidiary of PacWest Bancorp (NASDAQ:PACW). For
more information, visit www.square1bank.com.
About DirectScaleBased in Lindon,
Utah, DirectScale is a software solution designed to be the
‘everything business’ platform of the direct and social sales
industry. With a focus on intuitive user-experience, and a full
suite of configurable, cloud-powered business management tools,
they are committed to helping organizations drive and plan for
growth. Their experience in software and marketing, from
distributor to corporate, means they truly understand what it takes
to help clients succeed. To learn more, please visit
www.directscale.com.
Media Contact: Square 1 Bank, a
division of Pacific Western Bank Laura Piggott919.597.7466
lpiggott@square1bank.com
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