SLR Digital Finance Closes $5MM Credit Facility for Engine Vision Media
SLR Digital Finance announced the funding of a $5 million working capital facility for Engine Vision Media.
The facility will support the company’s working capital needs and fuel growth as it expands its publication footprint nationwide and increases its efforts in digital, podcasts, and long-form content.
Engine Vision Media was formed in 2021 to acquire the popular magazine publications Los Angeles Magazine (LAMag.com), Orange Coast Magazine (orangecoast.com), and Pasadena Magazine (pasadenamag.com) and launched Los Angeles Magazine Studios. The Engine Vision Media team has transformed the publications’ digital presence and expanded their print distribution nationwide through a partnership with Barnes and Noble.
Jeffrey Austin, SVP of Business Development at SLR Digital Finance, said, “We were able to structure a facility that provides Engine Vision Media with the upside and flexibility they need to carry out the digital transformation of their publications and to scale their print publications with retail partnerships nationwide. We’re thrilled to work with Mark Geragos, Ben Meiselas, and the rest of the Engine Vision team.”
“SLR Digital Finance has extensive experience financing digital media companies,” said Ben Meiselas, cofounder of Engine Vision Media. ”In our first year of ownership, we invested millions in transforming these historic publications. As we look to 2024, our partnership with SLR Digital will accelerate our growth potential in the digital space and development of long-form content through LA Mag Studios.”
About SLR Digital Finance
SLR Digital Finance is the leading asset-based lender serving digital media companies looking for an alternative to traditional bank financing. SLRDF offers factoring and asset-based loans up to $100 million and finds ways to provide borrowers with maximum availability and flexibility. SLRDF serves advertising technology companies, publishers, ad networks, creative studios, agencies, and digital platforms.
SLRDF is a wholly owned subsidiary of SLR Business Credit, an SLR Investment Corp. company