Daily News: July 3, 2014

GBCIB Provides WindStream Credit Line

WindStream Technologies announced it received a $2 million working capital line of credit through GBC International Bank of California (GBCIB). Backed by the company’s $4 million exporters insurance policy with the Export-Import Bank of the United States (EXIM Bank), the company can now accelerate its delivery of products to key customers, most notably Jamaica Public Service, which has purchase orders with the company exceeding $22 million dollars. With this line of credit in place, WindStream Technologies can continue to build on its product manufacturing and distribution successes for customers around the world.

“We looked at the technology that WindStream has developed, and the vast marketplace for its products and wanted to be a part of this exciting story,” said GBCIB VP Edward Tang. “We’re proud to be part of the success story that is WindStream Technologies. We are optimistic about their future as evidenced by their recent sales across global markets.”

“There are a lot companies out there with great ideas and great technology, but without strong financial backing it’s next to impossible to succeed. With GBCIB, WindStream Technologies is able to move forward and meet the strong customer demand we are experiencing from our strategic partners and distributors globally and we look forward to a long and successful relationship with GBC,” said Dan Bates, CEO of WindStream Technologies.

North Vernon, IN-headquartered WindStream has a line of hybrid renewable energy solutions.