Daily News: April 3, 2013

SVB Provides Axesstel with $2.25MM Term Loan

Axesstel announced it has secured a three year $2.25 million term loan with Silicon Valley Bank. The company entered into an amendment of its $7 million accounts receivable credit facility to include provision for

“We are pleased to extend this term loan to support the growth of Axesstel’s business,” said Frederick “Buzz” Kreppel, senior relationship manager for Silicon Valley Bank. “We appreciate that Axesstel has chosen Silicon Valley Bank for its banking needs, and that we have this opportunity to extend our relationship with the company.”

San Diego, CA-based Axesstel is a provider of wireless voice, broadband access and connected home solutions for the worldwide telecommunications market.