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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.
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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.
a portfolio company ofRiverwood Capital
Undisclosed
Senior Credit Facility
Decision Support
Solutions Provider
a portfolio company ofFrontier Capital
Undisclosed
Recurring Revenue
E-Commerce Analytics
Software Platform
a portfolio company ofAccel 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
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
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.
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