Boston – December 1, 2010 – Crystal Financial, LLC, announced today it closed a $25 million, five-year term loan with ShopNBC (NASDAQ: VVTV), an interactive multi-media retailer across TV, online, mobile and social platforms. ShopNBC is broadcast live via cable and satellite TV in 76 million homes nationwide. Steven Migliero, Managing Director of Crystal Financial, stated: “We are pleased to provide this financing to ShopNBC to support their highly talented management team in executing their growth plan. This new loan is a good example of Crystal Financial’s commitment to provide innovative debt capital solutions to middle-market companies.” Commenting on the new loan, Bill McGrath, CFO of ShopNBC, stated: “We are pleased to enter into this new term loan led by Crystal Financial. The Crystal team, in particular Steve Migliero and Josh Franklin, worked closely with us and took the time to understand our business in structuring a loan that helps us finance our general working capital needs.”
About Crystal Financial
Crystal Financial is a commercial finance company, which originates, underwrites and manages secured term loans up to $150 million per transaction. Crystal Financial’s seasoned team of debt-structuring experts have made over $20 billion in loans to companies across a wide array of industries. For additional information about Crystal Financial, please visit www.crystalfinco.com.
ShopNBC is a multi-media retailer operating with a premium lifestyle brand. Over 1 million customers benefit from ShopNBC as an authority and destination in the categories of home, electronics, beauty, health, fitness, fashion, jewelry and watches. As part of the company’s “ShopNBC Anywhere” initiative, customers can interact and shop via cable and satellite TV in 76 million homes (DISH Network channels 134 and 228; DIRECTV channel 316); mobile devices including iPhone, BlackBerry and Droid; online at www.ShopNBC.com; live streaming at www.ShopNBC.TV; and social networking sites Facebook, Twitter and YouTube. ShopNBC is owned and operated by ValueVision Media (NASDAQ: VVTV). For more information, please visit www.ShopNBC.com/IR.