Thermo Credit extended a $1.15 million line of credit to Digerati Technologies. The facility included a $500,000 revolving line of credit as well as a $650,000 term note and supported a series of acquisitions by the company.
Those acquisitions included the purchase of T3 Communications, a provider of cloud communications and broadband solutions in Southwest Florida.
Thermo’s Executive Vice President Seth Block commented, “Thermo is pleased to be able to help Digerati accomplish its business goals by providing a revolving line of credit as well as a term note. This structure is a fit based on the company’s cash flow, strong collateral base and seasoned management. We feel that this acquisition greatly improves the company and we look forward to working with Art and his team on future acquisitions.”
“We are pleased that the best financing solution turned out to be a trusted funding source that we have worked with for many years and knows our industry,” said Digerati’s CEO Art Smith. “Seth and his team took a very hands-on approach and rolled up their sleeves to assist us with getting this key transaction funded and closed. We look forward to continue working with Thermo Credit on future transactions.”
Digerati is a Texas-based provider of technology and communications services to small, medium and enterprise businesses throughout the country.
Thermo Credit is a privately held funding company that provides asset based loans, accounts receivable financing and factoring services primarily to the communications industry.
