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San Diego’s Overland Storage Arranges Accounts Receivables Financing

San Diego’s Overland Storage (NASDAQ: OVRL) says it has closed a two-year deal with Marquette Commercial Finance that will help Overland’s liquidity by enabling it to finance as much as $9 million of its accounts receivables. The deal allows Overland to get cash more quickly from sales of its data storage hardware and software products, instead of waiting for payments from its mostly commercial customers.

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Running Near Empty, Overland Storage May Be a Sign of The Times | Venture Capital Bloggers Network
12/3/08 10:29 am

[...] Protection Bruce V. Bigelow wrote: I thought it was unusual when San Diego’s Overland Storage said Friday it had closed on a $9 million receivable financing agreement. All it means is that a finance [...]