Square 1 announces acquisition

Jan. 02, 2014 @ 05:41 PM

The Durham-based commercial bank Square 1 Bank announced Thursday it has acquired “substantially all” of the assets and hired all employees of a provider of financing solutions for emerging growth companies that’s based in California’s Silicon Valley .

According to a news release by Square 1, Sand Hill Finance specializes in the origination and servicing of accounts receivable financing solutions for emerging growth companies nationwide. 

“We are delighted to have completed the acquisition of Sand Hill Finance, and are happy to have the team join the Square 1 Bank family with expertise that complements our existing suite of loan products,” Doug Bowers, Square 1’s president and CEO, said in a statement.

Square 1 Bank, a commercial bank serving venture capital community and entrepreneurs, has offices in Austin, Boston, Denver, Durham, Los Angeles, New York, San Diego, Seattle, the Silicon Valley of California and Washington D.C.