Daily News: August 28, 2019

Thermo Credit Closes $1.5MM Factoring Facility with Process Cellular

Thermo Credit completed a $1.5 million factoring facility with Process Cellular, subsidiary of Bettwork Industries.

The Southern California based company offers general contracting services to the telecommunications industry, specializing in cellular tower construction and maintenance. Thermo Credit successfully negotiated multiple intercreditor agreements to provide the funds which will be used to manage cash flow needs in anticipation of continued growth.

“We anticipate tremendous activity in the tower modification arena in 2019 and beyond. We appreciate the faith that Bob and his team have in entrusting Thermo Credit to be their financial partner moving forward,” said Thermo’s Executive Vice President Seth Block.

ProCell’s CEO Bob Harden commented, “Seth has made the whole process clean and easy, not only getting the account set up but maintaining our ongoing process. The Thermo team is very responsive to our requests and makes sure everything is balanced and correct. It is like having a big THERMO blanket in a blizzard!”

ProCell is a turnkey general contractor that specializes in the telecommunications industry & structural engineering/design.

Bettwork has become a provider of turnkey network solution in the telecommunications infrastructure market.