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Heritage Bank of Commerce Inks $5MM A/R Line of Credit with Spectrum Global Solutions

October 15, 2018, 07:00 AM
Filed Under: Telecom

Spectrum Global Solutions, Inc., a single-source provider of end-to-end next-generation wireless and wireline network services and staffing solutions to the service provider (carrier) and corporate enterprise markets, has entered into a $5 Million revolving asset based line of credit with Heritage Bank of Commerce.  This facility is an accounts receivable line of credit that will support the growth of our ADEX Corporation subsidiary.

Roger Ponder, CEO said, "Adding a revolving bank credit facility to our financial structure is another tangible sign of our growth as a company and a third-party vote of confidence in our future. Access to reasonable bank interest rates and commercial paper insures our ability to maintain our growth, at a reduced cost and without interruption".

Mike Hansen, Senior Vice President and Manager of Heritage Corporate Finance stated: "Heritage Bank of Commerce is pleased to be a financial partner with Spectrum Global Solutions helping them with their future growth. We are looking forward to continue working with their management team, and establishing a successful, long-term partnership."

ThinkEquity, A division of Fordham Financial Management, Inc., acted as exclusive advisor to the company on the financing.

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