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.
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
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.
a portfolio company ofAccel-KKR
Undisclosed
Recurring Revenue
Software for EMS Agencies
Firefighters, and Hospitals
a portfolio company ofMarlin Equity Partners
Undisclosed
Recurring Revenue
No-code Application
Development Platform
a portfolio company ofSpotlight 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
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.
Alejandro Castillo
Director, Western U.S. Originations
Technology Finance Group
PNC Business Credit
Alejandro Castillo is Director, Western U.S. Originations for PNC Business Credit’s Technology Finance group. He is responsible for originating transactions in the Western region.
Castillo joined PNC Business Credit in 2019 as a senior underwriter and has more than ten years of industry experience. He most recently served as a team leader within the Technology Finance underwriting group. Prior to joining PNC, Castillo spent ten years with Wells Fargo in underwriting, originations, and relationship management roles.
He received a B.A. in Finance from Pepperdine University.
Ankur Gupta
SVP & Group Head
Technology Finance Group
PNC Business Credit
Ankur Gupta is a Senior Vice President and Group Head for 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.
Gupta joined PNC Business Credit in 2016 and has more than 20 years of industry experience. He most recently served as a senior business development officer at PNC, where he was responsible for originating, screening and structuring asset-based, recurring revenue, and cash flow loans to support private equity and strategic backed transactions. Prior to joining PNC, Gupta was Western Region Team Leader at Antares Capital LP and held roles within the Investment Banking Division at Lehman Brothers.
He received his B.S. from Northwestern University and his MBA, with a concentration in Finance and Accounting, from the University of Chicago.
J.P. Seminario
Senior Managing Director, National Originations Manager
jp.seminario@pnc.com | 626-432-6135
Important Legal Disclosures & Information
PNC is a registered mark of The PNC Financial Services Group, Inc. ("PNC"). PNC Business Credit is a senior secured lending division of PNC Bank, National Association ("PNC Bank") and its subsidiaries, and is part of PNC. In Canada, the Canadian federally regulated branch of PNC Bank, PNC Bank Canada Branch provides various bank products and services. Deposits with PNC Bank Canada Branch are not insured by The Canada Deposit Insurance Corporation. In the UK, lending products are provided by PNC Financial Services UK Ltd., which is an indirect wholly-owned subsidiary of PNC Bank. Lending and leasing products and services, as well as certain other banking products and services, require credit approval.
*A portion of the funding provided by Steel City Capital Funding, a division of PNC Bank. Steel City Capital Funding provides Cash flow-based senior debt, junior secured, and second lien loans for sponsored and non-sponsored transactions.
BBVA is a registered trademark of BBVA, S.A. and is used under license.
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