Comerica Provides $2.75 Million Credit Facility to netDecide.Business Editors/High-Tech Writers Comerica (NYSE NYSE See: New York Stock Exchange :CMA CMA - Concert Multithread Architecture from DEC. ), a leading financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company, and netDecide Corp., a leading developer of web-based wealth management systems for the financial services industry, announced today that Comerica's Technology and Life Sciences Division has provided the Tysons Corner company with a $2.75 million revolving line of credit Revolving line of credit A bank line of credit on which the customer pays a commitment fee and can take and repay funds at will. Normally a revolving LOC involves a firm commitment from the bank for a period of several years. . The funds will be used for general working capital. "netDecide is a great addition to our portfolio and we look forward to a long relationship with this innovative company," said April Young, senior vice president and managing director of Comerica's Mid-Atlantic Technology and Life Sciences Division. "We consider ourselves technology specialists and we are committed to working with the most promising companies in this region, both those that are just emerging and others that are more established." netDecide provides financial service firms with enterprise-wide wealth management software, facilitating their ability to deliver advice profitably to their clients. The company's award-winning technology allows users to answer day-to-day questions, create baseline plans and deliver comprehensive plans that encompass complex wealth management strategies. "We place great value on working with a financial institution that understands the challenges technology companies face and has the ability to respond appropriately," said John Calnan, netDecide's CFO See Chief Financial Officer. . "We have found that in Comerica, which is also a bank that has the resources to meet our needs as we grow." About netDecide netDecide Corp. provides financial services institutions with the platform to help their clients, from emerging affluent to ultra-high net worth, intelligently manage wealth. The solution drives down the time and cost to deliver financial advice and focuses on the key business drivers of a financial institution -- asset growth and advisor productivity. netDecide's customers include firms such as Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , Legg Mason Founded in 1899, Legg Mason, Inc. (NYSE: LM) is a leading Global Asset Management Firm that serves the institutional, mutual fund and wealth management markets. The firm is headquartered in Baltimore, Maryland, and is located on Lombard and Charles Streets in the Legg Mason Wood Walker, Robert Walker, Robert, d. 1658?, English painter, a follower of Van Dyck and favorite portraitist of Oliver Cromwell. His portraits of Cromwell and his family and followers are convincing studies of Puritan temperament. W. Baird, and Morgan Keegan. Based in Tysons Corner, Va., netDecide was established in 1996 and is a privately held corporation Noun 1. privately held corporation - a corporation owned by a few people; shares have no public market close corporation, closed corporation, private corporation . About Comerica'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 in the computer products, Internet services, telecommunications, life sciences and e-commerce industries. From 19 offices located across the U.S., Comerica's Technology and Life Sciences Division serves all major technology centers. Comerica is among the 20 largest banking companies in the nation, with $50 billion in assets. For more information, visit www.comerica.com. |
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