Innovectra gets $2M loan from MMV Financial - Washington Business Journal:

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The company said it will use the financing fromthe Toronto-basexd specialty finance company to invest in and market its newly-launched program for Yellow Pageas publishers. “We were looking at what traditional bankes weredoing -- cutting back and not investingf more. We were approached by [MMV] becausde we had some changes in our businessa model and are making some investments in ourtechnolog platform. They were lookingv at and callingon venture-backed said Tom Lewis, chief executive of Innovectra, who came on boardx 10 months ago and instilled a new business platform that includinvg outsourcing to India.
“We consideredx raising an equity round but this marker is just terrible for that so Ithought we’d do a debt round and then equity rounds next year,” said Lewis. The 20-persobn company, founded in received its first venture moneyin 2004. It’ss backed by the Edison Venture Fund and Longworth Its directory publisher clients include LocalInsighr Media, Metro Directories, Ross Yellow Pages, Director y Plus, LocalTel, RH Donnelley, Communitt Yellow Pages, USA Northland and SureWest Directories.