DataTrade announces new financing arrangement with Commerce Bank, Springfield, MO
New facility restructures debt and adds revolving line of credit for business expansion.
March 19, 2007
DataTrade announced today that it had reached agreement with Commerce Bank, Springfield, MO, to restructure its long term debt and to add a line of credit to enable to company to take full advantage of the competitive advantages it is currently experiencing in the financial software marketplace.
For the past three years, DataTrade's revenue and profitability have been growing between thirty and forty percent. "This line of credit will enable us to accelerate our growth even more in 2007," said Colin D. McAllister, DataTrade's CEO. "Our new software products, particularly Remote Deposit, Remittance and CheckScan, are really gaining traction, and this line will allow us to take full advantage of our market potential,'' he added.
About DataTrade
DataTrade, LLC, develops innovative software and technology solutions for automating financial processes. Since 1990, the company has earned the trust and loyalty of more than 1,000 clients worldwide ranging from community banks to Fortune 100 companies. The company's proprietary software solutions serve the financial services, general business, not-for-profit, governmental and other industries where automated financial processing is needed. DataTrade's products include solutions for: automated check processing, remote deposit capture, remittance/lockbox processing, voice and speech response, Internet banking and document/report management. With a history in digital-to-digital conversion, DataTrade also specializes in providing document, check, statement, report and data image conversion and migration services.
For more information, please contact: Scott Russell, Goldleaf Financial Solutions, Inc.: 3653 South Avenue, Springfield, MO 65807; phone 417-882-1576 or 800-450-3502; fax 417-882-8423; www.datatrade.com.
Media Contact
Delia Croessmann
417-882-1576, ext. 37
delia.croessmann@goldleaf.com