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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.

We Get the Deal Done

We deliver consistent and reliable capital in all phases of the business cycle. It’s more than confidence of execution. It’s a Done Deal.

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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

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.
ESO logoa portfolio company of

Accel-KKR

Undisclosed

Recurring Revenue

Software for EMS Agencies
Firefighters, and Hospitals

Skuid logoa portfolio company of

Marlin Equity Partners

Undisclosed

Recurring Revenue

No-code Application
Development Platform

 

Identity Automation logoa portfolio company of

Spotlight Equity Partners

$32,500,000

Recurring Revenue

Identity & Access Management Software Solutions 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

Read Bio »

Scott Denniston 

SVP & National Portfolio Manager

j.denniston@pnc.com   |   415-733-1602
 
Read Bio »

 

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
SVP & Group Head
Technology Finance Group
PNC Business Credit

David Mengel is Senior Vice President & Group Head for PNC Business Credit's Technology and 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. Scott Denniston
SVP & National Portfolio Manager
Technology Finance Group
PNC Business Credit

Scott Denniston is Senior Vice President and National Portfolio Manager for PNC Business Credit’s Technology Finance group. Based in San Francisco, he is responsible for managing the group’s portfolio of sponsor-backed software-based companies.

Denniston joined PNC Business Credit in 2001 as a senior field examiner, and has held roles in Business Credit in risk management and underwriting. He has also held various roles within PNC’s Corporate Bank. Denniston opened the Technology Finance group’s San Francisco portfolio office in 2016. He most recently served as Regional Underwriting Manager for PNC Business Credit’s Western region and the Technology Finance group.

A veteran of the US Army’s 10th Mountain Division, Denniston studied General Studies and Organizational Leadership & Development at College of DuPage and Penn State University.

Denniston serves on the board of directors of multiple youth sports nonprofits and the Family Sports Center in Butler, PA. 

J.P. Seminario

Senior Managing Director, National Originations Manager

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

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David Mengel

SVP & Group Head, Technology Finance

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

Read Bio »

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