Space Micro Expands Operating Line of Credit to Enable Rapid Growth
San Diego, CA – October 20, 2016 Space Micro Inc, a manufacturer of radiation hardened electronics subsystems for space and missile applications, announced today that it has received an expansion of its operating line of credit with California Bank and Trust, of San Diego, CA.
Ms. Marina Phillips, Vice President at California Bank and Trust said “California Bank & Trust has worked with Space Micro since July 2009 and have seen the company experience annual double digit revenue growth. We look forward to our continued relationship with Space Micro and to assist the company grow and achieve its business goals.”
This credit facility is important to Space Micro as the company moves into more fixed price, hardware-deliverable, space and missile subsystem products. These products meet the needs of many military, NASA, international, and commercial space programs and significantly reduce the long lead times previously experienced in traditional space programs. Space Micro is leveraging their existing heritage space electronics hardware used for NASA IRIS, NASA LADEE, Air Force TacSat2, Navy TacSat4, NASA LWS, and the Air Force ORS-1 satellites.
David J. Strobel, CEO at Space Micro, said “our expanded line of credit will enable Space Micro’s continued rapid growth to meet the demand from the space and missile electronics marketplace.”