York Telecom raises $12 million loan from Citibank

York Telecom
Corporation, a global provider of visual communications services and solutions,
announced that they have partnered with Citibank to be their business and
financial bank.

The financing
from Citibank, ($10 million revolving line of credit and $2 million term loan)
is in addition to financing received from New Spring Capital and Petra Capital
that was raised in the past several years and is firmly directed to our ongoing
working capital and expansion needs.

“Despite a
great relationship with our former bank, we felt the time to change was now.
York is heading toward dramatic changes with the presence of new company
President & COO, David Phillips, and it was important that we had a bank
that was capable of keeping pace with us,” said Judi Pulig, acting CFO for
York Telecom

“We are
pleased to provide York Telecom with the financial resources to support its
ongoing operations and strategic growth. Through the partnership with our
Commercial Banking team, York Telecom can access our subject matter experts in
the U.S. and around the world who can help them drive their business toward its
new goals,” said Bob Koar, Eastern region president Citibank, Commercial

By Telecomlead.com Team

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