Advantage Capital finances digital scoreboard company in Mississippi
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Capturion Network scores funding through Mississippi New Markets Development Program
Laurel, Miss., December 2, 2009 - Advantage Capital Partners and its small business lending division BizCapital provided Mississippi New Markets Development program financing to Capturion Network, LLC, an innovative company which sells, installs and services digital scoreboards for sports and entertainment venues nationwide. The funding will be used to support the company’s continued growth, including the retention of 24 employees, with more jobs expected in the coming months.
“The Mississippi New Markets Development program serves as a crucial economic development tool to help promote the expansion of businesses in underserved communities like ours,” said Mississippi State Auditor, Stacey Pickering. “Capturion is a prime example of how this program is working in the state. I’m pleased to see this funding go to a local company that is committed to growing its business in Laurel.”
Capturion Network provides indoor and outdoor stadium scoreboards in a full range of sizes. The company’s state-of-the-art scoreboards incorporate video screens along with a vast digital signage network that includes LED or static advertising options and custom signage. The company offers a full product line of LED solutions including true High Definition video boards for replays, graphic, live video feed and crowd interaction. In 2008, Capturion installed the scoreboard for Mississippi State University’s football stadium - the second largest scoreboard in college sports, and the fourth largest in the world.
“We’re thrilled to have the support from our investment partners at Advantage Capital,” said Leonard Busby, president and founder of Capturion Network. “With this new funding in place, we are now in an excellent position to expand our presence in the scoreboard industry.”
Advantage Capital’s investment in Capturion Network was made in connection with the federal New Markets Tax Credit and Mississippi New Markets Development programs. Both programs are designed to stimulate economic growth in communities that historically have been underserved by traditional sources of capital.
About Advantage Capital Partners and BizCapital
Advantage Capital Partners is a venture capital and small business finance firm focused on investing in promising companies in connection with federal, state and local economic development efforts. With offices and partners in New Orleans, St. Louis, Austin and other U.S. cities, Advantage has raised more than $1 billion since 1992 and invested in companies located in geographic areas underserved by traditional capital. BizCapital is Advantage Capital’s non-depository financial institution offering competitive loans to small and mid-sized companies. In partnership with the federal government, BizCapital is licensed to make government-guaranteed SBA and USDA loans.