TCA Provides ERF Wireless Debt Facility
ERF Wireless, a provider of enterprise-class wireless and broadband products and services, announced that it closed on an $8 million revolving line of credit debt facility.
Under the terms of the agreement, TCA Global Credit Master Fund has committed to lend a total of $8 million over time through the issuance of senior secured revolving notes, with the initial tranche of $1.5 million. Following the initial draw, the company must meet specific monthly collateral requirements, and receive the approval, of TCA to further draw upon the revolving credit facility.
According to Dr. H. Dean Cubley, CEO of ERF Wireless, “We are pleased to be able to put this new debt facility in place at this particular point in the overall development of the ERF Wireless business plan. We have a number of expansion projects where the availability of such a credit facility will work to our advantage as we utilize it in conjunction with our other sources of capital to continue to grow our business.”