Timothy Martin founded Neoscope, LLC, in 2006 to serve the information technology needs of businesses, municipalities, and nonprofits on the Seacoast. The company set a new standard in collaborative IT management by offering security services and consulting to help its clients defend their systems from hacking and online threats. By 2015, Neoscope had reached more than $2 million in revenue, and needed to quickly add more sales staff to keep up with the increasing demand.
Martin had a good relationship with his senior bank creditor, but needed a lender with a greater risk appetite to take Neoscope to the next level of growth.
Why the Community Loan Fund made the loan
Neoscope had a record of performance and a solid reputation. We believed in Martin’s leadership abilities and we knew that his strong chief financial officer would have the right controls in place to remain on a sustainable growth path.
We extended Neoscope a term loan to hire and train sales staff. The company also recently hired an inside sales manager. Neoscope was included in Business NH Magazine’s “Top 10 companies to watch” for 2016.