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Short Take: SyQuest hits credit crunch

SyQuest is hitting a credit crunch, according to a recent Securities and Exchange Commission filing. A SyQuest lender has cut its line of credit from $30 million to $10.45 million, due to falling out of compliance with its lending requirements. Investors appear reluctant to extend $13 million in financing unless the company can secure additional substantial lines of credit or debt financing, according to the filing.

Dawn Kawamoto Former Staff writer, CNET News
Dawn Kawamoto covered enterprise security and financial news relating to technology for CNET News.
Dawn Kawamoto
is hitting a credit crunch, according to a recent Securities and Exchange Commission filing. A SyQuest lender has cut its line of credit from $30 million to $10.45 million, due to falling out of compliance with its lending requirements. Investors appear reluctant to extend $13 million in financing unless the company can secure additional substantial lines of credit or debt financing, according to the filing.