Eyewitness Surveillance Secures $15 Million Line of Credit
The new financing will bolster enhancements to the video-monitoring solutions provider’s existing product line and pave the way for strategic growth and market penetration.
HANOVER, Md. — Eyewitness Surveillance, a remote interactive video-monitoring solutions provider specializing in mid- and large-sized automotive dealerships, has secured new financing to fuel its continued expansion and business growth.
This new financing, a $15 million facility from The PrivateBank, will be particularly valuable to Eyewitness as it continues to realize its strategic future growth goals within key automotive dealers and metal recycling organizations.
“We are thrilled to announce this new financing,” said RT Arnold, president of Eyewitness. “Partnering with The PrivateBank will enable us to continue our nationwide footprint and further invest in innovative service offerings to deliver maximum value and return-on-investment to our customers.”
Founded in 2004, the company plans to continue pushing West, having picked up new clients in the Midwest. They include Acura of Columbus (Ohio), Superior Auto Group, Hare Chevrolet, Bettenhausen Automotive, Currie Motors, Gary Lang Auto Group and Nickelson Industrial.
The company also plans to add three new products to its product line, which currently includes Sales Direct and Service Lane Kit 2.0. Securing the new financing will also allow the firm to achieve its strategic goals through its ‘zero-down’ model, which covers the cost of new equipment and installation.
“We are pleased to provide this financing to support Eyewitness and its future growth and evolution,” Mark Melendes, Managing Director of The PrivateBank noted. “Eyewitness Surveillance is a leader in security
More Showroom
California Sees Quarterly Gains
California’s new-vehicle market saw a boost in hybrids in the third quarter and its first overall quarterly market gain of the year.
Read More →
New-Vehicle Prices Stay Put
Affordability pressures and model availability shaped new-vehicle sales in September, according to an analysis by Kelley Blue Book.
Read More →
EV Buyer Consideration Shifts
What drives American consumers to purchase an electric vehicle is shifting as the question moves away from Should I?' to 'Which features and experience do I want to have?'
Read More →
Year-to-Date Auto Sales Holding Their Own
A forecast through August shows that automakers have shifted strategies to keep deliveries and revenues up despite tariffs and other economic challenges.
Read More →
Slow to Robo
Ten years of polling consumers shows autonomous vehicles’ profiles have risen considerably, but even more people now want at least some level of control if they go that route.
Read More →
Dealers a Little Down
A third-quarter Cox Automotive survey finds them in a mixed mood, bummed by fallen customer traffic but encouraged by better profits, costs and EV interest.
Read More →
European EV Sales Skyrocket
The EV market on the continent held strong in July with almost 25% of new-car sales being fully electric units, a stark contrast to the U.S., where EV sales declined about 42%.
Read More →
Mitsubishi Unveils U.S. Plan
The automaker announced a strategy that includes an expanded lineup and dealership presence, along with more ‘rugged’ and electric models.
Read More →
Used Lots Getting the Business
Many consumers are seeking out the units to save money, and the demand – higher in July than normal – is keeping supply limited and prices up.
Read More →
Used Market Stabilizes
The Carfax Used Car Index noted a major drop in used-vehicle price increases in July after several months of hikes.
Read More →