Avalara repays $30 million term loan via Silicon Valley, Ally banks

By Susanna Moon

Chicago, Aug. 17 – Avalara, Inc. repaid its $30 million term loan facility on Wednesday, according to an 8-K filing with the Securities and Exchange Commission.

The term loan was established under the loan and security agreement dated June 6, 2016 with Silicon Valley Bank and Ally Bank as lenders, which also included a $50 million revolving credit facility.

As of Aug. 15, there were no borrowings outstanding under the revolver.

Avalara is a Seattle-based provider of cloud-based tax compliance solutions.

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