Daily News: May 8, 2013

Veritas Provides $2.8MM to Cell Tower Service Provider

Veritas Financial Partners provided a $2 million senior secured revolving line of credit and an $800,000 term loan for a U.S. cell tower service provider.

The company has provided services for cell towers throughout the country since 1997. Operating from six regional locations the company can provide a full range of engineering services including fuel cell, router and radio installation and replacement services. Prior to receiving financing from Veritas, the company growth was hampered by a loan facility that could not meet its working capital needs. With the addition of the new Veritas loan facility the Company can now capitalize on sales previously turned away.

The $2 million senior secured revolving line of credit is secured by the company’s accounts receivables and inventory, and the $800,000 term loan secured by equipment.

Veritas Financial Partners is a national financial services firm that provides senior secured credit facilities to small and medium-sized businesses.