FOR IMMEDIATE RELEASE
CONTACT: Linda Hemingway
Director of Market Development & Communications
Sirti
509-358-2031
lindah@sirti.org
DELTA BUSINESS TRAINING LATEST TO RECEIVE MARKET ACCELERATION LOAN VIA SIRTI TECHNOLOGY GROWTH FUND
Financial infusion to help company meet growing demand from new clients
Spokane, WA – March 19, 2009 – The Sirti Foundation Board and the Business Development Corporation of Eastern Washington announced today that they have completed a loan to Delta Business Training in the amount of $300,000 via the Sirti Technology Growth Fund (TGF). The funds will provide the growth capital needed to satisfy growing demand for the firm’s products. The loan is the third provided by the Sirti Technology Fund in 2009 and brings the total amount of financing provided to $970,000 this year and $2,290,000 since the program’s inception.
Located in Spokane, Delta Business Training creates custom online training solutions for government and corporate clients using a proprietary Learning Management System (LMS). This unique platform allows for the efficient development and delivery of highly interactive, fully customized training courses that enable e-mail communication between students and instructors, uses rich multimedia such as videos and animation, provides detailed course completion reports and certificates, and more.
“Both the Sirti team and the Sirti Technology Growth Fund are critical resources for technology businesses in the Inland Northwest,” said Dave Paquin, CEO of Delta Business Training. “This financing, along with their strategic guidance, will help us continue our growth and meet rising demand for our products.”
“Delta Business Training’s comprehensive training solutions give businesses and government entities the ability to train employees more conveniently and at a lower cost than traditional training”, said Kim Zentz, Executive Director of Sirti. “We believe they’re perfectly positioned to use their technical know-how and extensive knowledge of training techniques to further establish an already strong market position.”
-end-
About Delta Business Training
Delta Business Training is Spokane based provider of professional online training solutions for businesses and government agencies. Using a proprietary Learning Management System, the company creates custom training courses that feature client-specific logos, colors, and content designed to achieve the assigned education goals. Learn more at www.deltabusinesstraining.com.
About Sirti Foundation
The Sirti Foundation is a tax-exempt entity that is privately funded through grants and contributions to help support Sirti’s vision and mission. In particular, the Sirti Foundation pursues funding for special projects which help deliver results under Sirti’s mission. The Sirti Foundation has six independent board members representing executive leadership from various industries and three board members from the Sirti board.
About Sirti
Sirti is an agency of the State of Washington which is a collaboration of business, higher education and government to accelerate the development and growth of technology-based companies in the Inland Northwest, especially in Eastern Washington. Its target clients are innovative technology companies with defensible intellectual property, large market potential, and principals who show a strong desire to grow their business. Sirti offers two state-of-the-art buildings with a total of 40,000 square feet of space with wet labs and light manufacturing potential along with full service offices and a sophisticated IT infrastructure. Sirti offers business coaching and management assistance, as well as access to capital and Sirti IP/BizNet legal services. Sirti’s experienced staff and veteran entrepreneurs provide expertise in technology assessment, market research, strategic planning, marketing, finance and management for both start-ups and high-growth businesses. For more information, visit Sirti online at www.sirti.org or contact us at 509-358-2000.
About Business Development Corporation of Eastern Washington (BDC)
The Business Development Corporation of Eastern Washington (BDC) was created to serve as a community economic development tool providing debt financing to startup, early stage and emerging businesses that demonstrate a high probability for success. Financed by community conscientious investors, and supported by a consortium of regional and community member banks, the BDC provides an innovative way to leverage precious investment capital. Each member bank contributes to a pool of funds which are, in turn, invested downstream to qualified loan applicants. This arrangement provides debt financing to those most promising, growth-oriented businesses are community wants to attract and retain, while distributing the associated credit risk among the consortium’s participating member banks. The BDC is a unique financing vehicle designed to enhance the economic prosperity of our community and its citizens. For more information, contact the BDC at 509-747-1800.