Members Only receives a capital infusion with a DC CAPCO investment.

Friday, July 30, 2010

(Members Only Software, Inc.)
Members Only Software Inc today signed on a significant round of financing to support the development of our next generation browser-based software applications. The investment, made by Wilshire DC Partners, LLC, and Newtek Business Services Inc, will provide us with resources to build these new applications while we continue to support our existing products and users. "User-funded development has been great for the development of a feature set that serves the need of our clients. But we realized we'd need external funding to move to tomorrow's computing platforms, and this relationship will move us a long way towards that goal", according to Members Only Software president Michael Stein.

The investment was made under the auspices of the District of Columbia CAPCO program, a program designed to make $50 million of additional capital resources available as debt and/or equity investments to new and expanding DC-based businesses. Members Only CFO Doria Howe says "We're excited to have been able to close this deal in today's tight capital market. And we're grateful for the role the DC Chamber of Commerce played in introducing us to our new partners."

Newtek Business Services (Nasdaq:NEWT) is one of the premier providers of business services and financial products to small and medium-sized businesses throughout the United States.  Wilshire DC Partners LLC is a wholly owned subsidiary of Newtek.

For more information contact Doria Howe:


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