NEW ORLEANS, LA – April 2, 2009 – Thermo Credit, LLC, a funding company focused exclusively on opportunities in the telecommunications industry, announced today that it has provided IP Networks Inc., a San Francisco-based telecommunications service provider, with $2.5 million in the form of an asset based loan to be used for corporate growth.
Seth Block, Executive Vice President of External Operations for Thermo Credit commented, “We are very excited to be able to work with IP Networks. The quality of the company, assets and the management team have all lent to an ideal funding facility.”
“The breadth of Thermo’s operational and financial experience with full-facilities based telecommunications carriers differentiates them from the majority of other institutions”, added Gary George, President of IP Networks. “Not having to educate your financial partner while growing your business is invaluable which is why Thermo will be part of our long-term capital structure.”
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