Horizon Technology Finance Corp., a specialty finance company that provides capital in the form of secured loans to venture capital backed companies, announced today it has closed a $7.5 million venture loan to Medsphere Systems, CNN Money reports.

In a statement, Irv Lichtenwald, president and CEO of Medsphere, stated: "By providing our company with a customized financing solution that meets our immediate capital needs and increases our ability to grow our customer base and enhance our product offerings," he continued, "we are well positioned to take advantage of our strong pipeline of potential opportunities."

Read the CNN Money story here.