Spectrum Global Solutions entered into a $5 million revolving asset based line of credit with Heritage Bank of Commerce. The facility is an accounts receivable line of credit that will support the growth of the company’s ADEX subsidiary
Roger Ponder, Spectrum CEO, said, “Adding a revolving bank credit facility to our financial structure is another tangible sign of our growth as a company and a third-party vote of confidence in our future. Access to reasonable bank interest rates and commercial paper insures our ability to maintain our growth, at a reduced cost and without interruption”.
ThinkEquity, a division of Fordham Financial Management, acted as exclusive advisor to the company on the financing.
Spectrum Global Solutions operates through its subsidiaries AW Solutions and ADEX Corp to provide telecommunications engineering and infrastructure services and solutions across the U.S, Canada, Puerto Rico, Guam and Caribbean.
Founded in 1994, Heritage Bank of Commerce is a community business bank based in the heart of the Silicon Valley, with multiple locations throughout the Greater Bay Area.
