SLR Digital Finance Closes $5 Million Credit Facility for Engine Vision Media, owners of Los Angeles magazine, Orange Coast magazine, Pasadena magazine, and Los Angeles Magazine Studios
SLR Digital Finance announces the funding of a $5 million working capital facility for Engine Vision Media.
The facility will support the company’s working capital needs and to fuel growth as they expand their publication footprint nationwide along with their increased efforts in digital, podcasts and long-form content.
Engine Vision Media formed in 2021 to acquire the popular magazine publications Los Angeles magazine (LAMag.com), Orange Coast magazine (orangecoast.com), Pasadena magazine (pasadenamag.com), and launched Los Angeles Magazine Studios. The Engine Vision Media team has transformed the publications’ digital presence and expanded the magazines’ 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 (SLRDF) 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; NASDAQ: SLRC).
About Engine Vision Media
Engine Vision Media was founded by Mark Geragos and Ben Meiselas to acquire unique media properties and invest in media assets that seek to make a positive difference in our world.