Space Micro Expands its Operating Line of Credit
San Diego, CA – November 15, 2013 Space Micro Inc, a manufacturer of radiation hardened electronics subsystems for space applications, announced today that it has received an expansion of its operating line of credit with California Bank and Trust, of San Diego, CA.
Marina Phillips, Vice President at California Bank and Trust said “California Bank & Trust has worked with Space Micro since July 2009 and has seen the company experiencing double digit growth. We look forward to our continued relationship with Space Micro and to helping the company grow and achieve its goals.”
This credit facility is important to Space Micro as the company moves into more fixed price, hardware deliverable, space products. These products meet the needs of many military, NASA, and commercial space programs and significantly reduce the long lead times commonly experienced in satellites. Space Micro is leveraging their existing heritage space electronics hardware used for NASA IRIS, NASA LADEE, TacSat2, 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 in the space and missile electronics marketplace.”