Avalara pays down, terminates loan with Silicon Valley, Ally banks

By Sarah Lizee

Olympia, Wash., June 26 – Avalara, Inc. paid down all outstanding amounts and terminated its loan and security agreement on Wednesday with Silicon Valley Bank and Ally Bank as lenders, according to an 8-K filing with the Securities and Exchange Commission.

The agreement was originally established in 2016 and provided for a $30 million senior secured term loan facility, which was previously repaid in full last August, and a $50 million revolver.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.