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Square 1 Bank Announces Credit Facility to Orbis Education

CHICAGO, Oct. 7, 2014 (GLOBE NEWSWIRE) -- Square 1 Bank, the premier banking partner to entrepreneurs and the venture capital community, today announced that it has provided a $5 million credit facility to new client Orbis Education, an education solutions company bridging the gap between academic and healthcare communities. Proceeds of the credit facility will provide working capital to support the company's future growth.

Founded in 2003, Orbis set out to examine the root causes of the nursing shortage and to develop a company and business model that would help address the issues it identified. Through collaborations with leading education institutions, hospitals, and nursing programs, Orbis created innovative nursing education solutions such as curriculum building, online instruction and accelerated degree opportunities.

"From the first conversation with us, Square 1 understood our business and our industry, which allowed it to create a flexible credit facility that will help Orbis attain its growth plans," said Dan Briggs, CEO and president of Orbis Education. "Square 1 Bank will be a great partner for us for the long term."

Ryan Dammeyer, managing director of Square 1 Bank's Midwest practice, added, "With strong backing from investors and leading medical universities across the country, Orbis Education has established itself as a pioneer for modern healthcare education solutions. We're very pleased to partner with a company committed not only to building a sustainable, educated workforce for future generations, but also to quality patient care."

About Square 1 Bank

Square 1 Bank is a full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion. Square 1's expertise, focus and strong capital base provide flexible resources and unmatched support to meet our clients' needs. Square 1 has offices coast-to-coast in Austin, the Bay Area, Boston, Denver, Durham, Los Angeles/Orange County, New York, San Diego, Seattle, Silicon Valley and Washington, DC. For more information, visit www.square1bank.com.

About Orbis Education

Founded in 2003, Orbis Education creates, markets, and manages collaborative healthcare education solutions that help alleviate workforce shortages for hospitals and healthcare systems. Orbis Education enables the growth of existing educational programs by pairing an academic institution with a healthcare system to offer high quality programs. For more information, visit http://www.orbiseducation.com.

CONTACT: Media Contact: Square 1 Bank Dee McDougal 919.597.7479 dmcdougal@square1bank.com Orbis Education Jill Hungsberg jill.hungsberg@orbiseducation.com

Source:Square 1 Financial