Commercial lender CapitalSource announced this week that it has closed a $12.5 million loan extension with Electric Guard Dog, bringing the company’s total line of credit to $42.5 million.
Based in Columbia, S.C., Electric Guard Dog makes a solar-powered perimeter security system that integrates multiple technologies including non-lethal electric fencing, perimeter breach detection and monitoring, video security services, wireless communication, and integrated interior intrusion products.
According to a statement, the company will use the loan extension to refinance existing debt and provide working capital to support additional growth in the future.
"We have been a CapitalSource customer since 2007 and this additional financing will enable us to meet the rising demand for our services," said Jack DeMao, CEO of Electric Guard Dog. "In this economy, more customers are coming to us to cut their security costs while improving security at the same time."