ICU Eyewear Receives $5 Million in Credit Facilities From Avidbank

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PALO ALTO, Calif.—Avidbank Corporate Finance, a division of Avidbank that specializes in technology and asset-based funding, has provided $5 million of financing to ICU Eyewear, Inc. of Berkeley, Calif. The facilities will be used for working capital flexibility and growth.

"ICU Eyewear is delighted with our new partnership with Avidbank," said Rich Conti, CEO of ICU Eyewear. "ICU needed a partner who understands the needs of a high growth company, and Avidbank clearly fits the bill. We look forward to growing together."

ICU Eyewear designs reading glasses with fun styles, bright colors and unique patterns at affordable prices for the everyday customer.

"Avidbank is delighted to be a part of ICU Eyewear's success and views this company as a great addition to our corporate finance portfolio," said Larry LaCroix, executive vice president and division manager of the corporate finance division. "ICU Eyewear, Inc. is a solid company with exciting growth plans, as well as great business discipline."

Avidbank Holdings, Inc. specializes in commercial and industrial, corporate finance, asset-based lending, real estate construction and commercial real estate lending, and real estate bridge financing.