Technology Finance  

Supporting sponsor-backed technology firms with recurring revenue streams.

The Technology Finance group at PNC Business Credit offers creative capital solutions tailored around the intrinsic value of recurring revenue streams of SaaS, On-Premise Delivery and other technology firms.

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Our Approach

Software-as-a-Service and subscription delivery models are a proven and viable option for technology companies. They can secure long-term customer relationships and a dependable revenue stream. As your private equity group builds solid software companies, you need a capital provider that is familiar with your investment needs. 

The Technology Finance group at PNC Business Credit has developed capital solutions that can help meet the growth and financial objectives of companies with recurring revenue. If your firm backs an enterprise software or technology-enabled company, we may be able to offer senior debt based on the intrinsic value of established recurring revenue streams. We deliver solutions consistently throughout the economic cycle with a relationship-based model that takes intangibles into consideration.

Lending Criteria

Delivering capital solutions for technology firms with recurring revenues through the cycles with a relationship-based model that takes intangibles into consideration.

Company Profile

  • Highly recurring and visible revenue streams
  • Sponsor-backed
  • Traditional software, technology enabled, data analytics and information services companies
  • Own your own IP
  • Offer mission-critical solutions
  • Hold a prominent position in the market

Financing Offered

  • Senior secured revolvers and term loans
  • Unitranche facility (first out tranche)
  • Agency or participation
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We Get the Deal Done

At PNC Business Credit and Steel City Capital Funding, “Done Deal” is not a tagline. It’s who we are.

Consistent, creative, reliable capital in all phases of the business cycle delivered by leading dealmakers who are experts in their field. With us, it's more than confidence of execution. It’s a done deal.

Forecast5 Analytics logoa portfolio company of

Riverwood Capital

Undisclosed

Senior Credit Facility

Decision Support
Solutions Provider

Pricespider logoa portfolio company of

Frontier Capital

Undisclosed

Recurring Revenue

E-Commerce Analytics
Software Platform

Banker's Toolbox logoa portfolio company of

Accel KKR

Undisclosed

Recurring Revenue

SaaS Based Banking
Software Provider

 

Our Team  

Industry focused dealmakers with leading experience.

Thomas Burkes

Managing Director, Eastern U.S. Originations, Technology Finance Group
PNC Business Credit

thomas.burkes@pnc.com   |   
212-210-9963

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Christopher P. Duranto

Director, Western Originations

christopher.duranto@pnc.com   |   
415-733-1616

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Thomas Burkes
Managing Director, Eastern U.S. Originations
Technology Finance Group
PNC Business Credit

Thomas Burkes is Managing Director, Eastern U.S. Originations for PNC Business Credit’s Technology Finance group. He is responsible for sourcing, structuring and executing on recurring revenue credit facilities used for buyouts, leveraged recapitalizations and refinancings by enterprise software companies.

Burkes joined PNC Business Credit in 2006, providing senior debt financing for companies in traditional industries in Atlanta and Toronto. Prior to PNC, Burkes was a management consultant for BearingPoint Consulting in their World Class Finance Group, and a senior lender for SouthTrust Bank, NA (now part of Wells Fargo).

Burkes received his B.S. from Louisiana State University and his M.B.A. from the Georgia Institute of Technology.

J.P. Seminario
Senior Managing Director, National Originations Manager
Technology Finance Group
PNC Business Credit

J.P. Seminario is Senior Managing Director, National Originations Manager for PNC Business Credit’s Technology Finance group. He is responsible for oversight of Technology Finance group originations nationwide.

Seminario is an original member of the Technology Finance group and has worked in various roles, including underwriting and originations. Previously, he worked for Wells Fargo Capital Finance’s Technology Group and Ernst & Young, LLP.  Seminario’s experience includes over $2.0 billion in financing LBO, M&A, recapitalization and restructuring transactions in the technology space.

He received his B.S. from California State University Northridge and his master’s degree from the University of Notre Dame.

David Mengel is Executive Vice President and Head of PNC Business Credit’s Technology Finance group.

He is responsible for oversight of all new business development and portfolio management for the Technology Finance group nationwide.

Mengel joined PNC in 1998 as Segment Executive for the Energy, Metals & Mining group. He subsequently held a series of leadership positions across PNC, including portfolio management, and was National Head of Originations for Steel City Capital Funding. Prior to joining PNC, Mengel held positions of increasing responsibility for U.S. Steel, Chase Manhattan Bank and Armco, Inc.

Mengel received his B.S. from Lehigh University and his MBA from the University of Pittsburgh.

Christopher P. Duranto
Director, Western U.S. Originations
Technology Finance Group
PNC Business Credit

Christopher P. Duranto is Director, Western U.S. Originations for PNC Business Credit’s Technology Finance group. He is responsible for assisting in covering originations across the western region.

Duranto previously served as portfolio team leader, responsible for over $800 million in Technology Finance commitments, and supported the build out of the dedicated PNC Business Credit Technology Finance portfolio team. Prior to PNC, Duranto worked at Comerica Bank and Western Alliance Bank, where he focused on the execution and origination of both asset-based and leveraged cash flow structures to middle market borrowers in the western United States. 

Duranto received his B.S. in Finance from Arizona State University.

J.P. Seminario

Senior Managing Director, National Originations Manager

jp.seminario@pnc.com   |   626-432-6135

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David Mengel

EVP & Head, Technology Finance Group

david.mengel@pnc.com   |   415-733-1601

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Contact Us

For mid-sized companies and private equity firms looking to secure working capital and term financing ranging from $10 million to $1 billion and beyond for business growth, connect with one of our leading dealmakers today.