Bridge Bank Provides $500,000 Financing to Deaf-Owned Convo Communications
San Jose, CA – November 3, 2010 – Bridge Capital Holdings (NASDAQ: BBNK),
whose subsidiary is Bridge Bank, National Association, a full service
professional business bank headquartered in Silicon Valley, announced today
it has extended a $500,000 line of credit to Convo Communications to support
its anticipated growth.
“With this financing, the Company can make capital purchases and spending as
to scale its operations commensurate with anticipated growth, all without
assistance from outside investors,” said Robin Horwitz, who is deaf and the
CEO of Convo. “This loan will allow us to both maintain our independence and
identity as a deaf-owned company and at the same time allows us to better
compete in the market.”
Convo is a provider of 24/7 video relay services (VRS), which enable deaf
and hard of hearing people who use sign language to convo with hearing
people via phone by utilizing true-to-life video connection with specially
trained sign language interpreters. It recently launched Convo Anywhere, a
cloud-based Web application that is a major addition to its product and
service offerings. “Convo Anywhere is a leap forward in accessibility and is
quickly becoming our signature product. Accordingly, we anticipate
tremendous growth in Year 2011 and are grateful to Bridge Bank for their
support and creativity in making this funding possible,” said Horwitz.
“Convo is a one-of-a-kind company in its sector and commands the respect of
industry analysts, customers, and other deaf-owned businesses,” said Lyndon
Conaway, Assistant Vice President, Bridge Capital Finance Group. Convo was
founded in March 2009 and has since grown to four call centers and gross
revenues close to $4 million for 2010.
About Convo Communications
Convo Communications is a deaf-owned provider of 24/7 video relay services,
which enables deaf and hard of hearing people who use sign language to convo
with hearing people over the phone. Its services allow deaf and hard of
hearing people civic and consumer participation and can be accessed via web
browser, videophone or instant messenger. For further information, go to
http://www.convorelay.com or follow via Facebook and Twitter at
convorelay.
About Bridge Capital Holdings
Bridge Capital Holdings is the holding company for Bridge Bank, National
Association. Bridge Capital Holdings was formed on October 1, 2004 and holds
a Global Select listing on The NASDAQ Stock Market under the trading symbol
BBNK. For additional information, visit the Bridge Capital Holdings website
at http://www.bridgecapitalholdings.com.
About Bridge Bank, National Association
Bridge Bank, N.A. is Silicon Valley’s full-service professional business
bank. The Bank is the community business bank of choice for small and middle
market companies, and emerging technology businesses in the markets we
serve. Bridge Bank provides its clients with a comprehensive package of
business banking solutions delivered through experienced, professional
bankers. Visit Bridge Bank on the web at http://www.bridgebank.com.
Daniel P. Myers
President
Chief Executive Officer
408-556-6510
[email protected]
Thomas A. Sa
Executive Vice President
Chief Financial Officer, Chief Financial Officer
408-556-8308
[email protected]
Forward Looking Statements
Certain matters discussed in this press release constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform
Act of 1995, and are subject to the safe harbors created by that Act.
Forward-looking statements can be identified by the fact that they do not
relate strictly to historical or current facts. They often include the words
“believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or words of
similar meaning, or future or conditional verbs such as “will,” “would,”
“should,” “could,” or “may.” Forward-looking statements describe future
plans, strategies and expectations. Forward-looking statements are based on
currently available information, expectations, assumptions, projections, and
management’s judgment about the Company, the banking industry and general
economic conditions. These forward-looking statements are not guarantees of
future performance, nor should they be relied upon as representing
management’s views as of any subsequent date. Future events are difficult to
predict, and the expectations described above are necessarily subject to
risk and uncertainty that may cause actual results to differ materially and
adversely.
Forward-looking statements involve significant risks and uncertainties and
actual results may differ materially from those presented, either expressed
or implied, in this press release. Factors that might cause such differences
include, but are not limited to: the Company’s ability to successfully
execute its business plans and achieve its objectives; changes in general
economic, real estate and financial market conditions, either nationally or
locally in areas in which the Company conducts its operations; changes in
interest rates; new litigation or changes in existing litigation; future
credit loss experience; increased competitive challenges and expanding
product and pricing pressures among financial institutions; legislation or
regulatory changes which adversely affect the Company’s operations or
business; loss of key personnel; changes in accounting policies or
procedures as may be required by the Financial Accounting Standards Board or
other regulatory agencies; and the ability to satisfy requirements related
to the Sarbanes-Oxley Act and other regulation on internal control.
The reader should refer to the more complete discussion of such risks in
Bridge Capital Holdings’ annual reports on Forms 10-K and quarterly reports
on Forms 10-Q on file with the Securities and Exchange Commission. The
Company undertakes no obligation to publicly revise these forward-looking
statements to reflect subsequent events or circumstances.
Source:
http://www.bridgebank.com/news/press_releases/pressrelease211.php