Daily News: October 25, 2012

Birch Communications Receives Financing From Wells Fargo Bank

Birch Communications, Inc., an IP-based telecom and managed services provider to small- and medium-sized businesses, announced that Wells Fargo Bank is now a syndicated lender in Birch’s senior secured credit facility. Wells Fargo’s commitment of $17 million will increase the capacity of the company’s credit facility by $8 million.

“Wells Fargo Bank is the fourth largest bank (by assets) in the country and we’re excited to begin a partnership with such a well-respected organization,” noted Edward James, Birch’s chief financial officer. “Having now three of the largest financial institutions in America demonstrate their confidence in Birch and our leadership team is a tremendous compliment and affirmation of our business model. We’re well-positioned to continue to execute our growth strategy.”

“We are pleased Wells Fargo has joined our senior secured credit facility Syndication Group,” said Vincent M. Oddo, Birch’s president and chief executive officer. “The progress in our financing initiatives underscores the fact that the financial markets continue to be confident in Birch’s fundamental stability and growth potential.”

Headquartered in Atlanta, Ga., Birch Communications provides managed communications and information technology services to a target market of small and medium-sized businesses in select metropolitan areas within 38 states across the United States.