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Farmington specialty lender Horizon Technology finance Corp. says it signed with Ohio's KeyBank for a five-year, $100 million revolving credit line to continue funding venture loans to technology, life-sciences, health-information and data, and clean-technologies startups.
Horizon Tech Chief Financial Officer Daniel R. Trolio said Tuesday the Cleveland lender extended Horizon's revolving period to April 6, 2021, and set a maturity date of April 6, 2023.
An "accordion feature'' of the credit line could push KeyBank's total loan commitment to $150 million, Trolio said.
In 2012, Horizon inked a $75 million term-loan facility, good for three years, plus extensions, with Fortress Credit Co. LLC.
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