InterMetro Communications Receives $3 Million Financing
SIMI VALLEY, Calif., Oct. 17, 2012 (GLOBE NEWSWIRE) -- InterMetro
Communications, Inc. (Ticker: IMTO) today announced a new $3 million senior
credit facility through a multi-year agreement with Transportation Alliance
Bank ("TAB Bank"). This new facility will provide additional working capital
for increasing customer sales and the roll-out of new products and services.
"We are excited to announce our new credit facility with TAB Bank which
provides InterMetro with additional revenue growth and working capital,"
stated Charles Rice, Chief Executive Officer of InterMetro. "While most
industries have been affected by recent global economic challenges, InterMetro
is proud to have continued our profitability while developing and delivering
new products and services to our customers."
TAB Bank, an FDIC insured bank with assets in excess of $800 million,
specializes in providing working capital solutions to small- and medium-sized
commercial businesses across a wide range of industries.
"We are very excited with our new relationship with InterMetro
Communications," stated Gary Harding, Chief Credit Officer at TAB Bank. He
continues, "The company provides exceptional service and value to their
customer base. We are very much looking forward to working alongside their
experienced team as they work toward bringing their communication solutions to
a larger number of clients and grow their business."
About InterMetro Communications:
InterMetro Communications is a leading facilities-based IP communications
provider of enhanced voice and data communication services. InterMetro owns
and operates a national, private, proprietary voice-over Internet Protocol
(VoIP) network infrastructure powered by state-of-the-art switching equipment
and software. InterMetro's robust network transports carrier-quality,
cloud-based enhanced voice and data services that are packaged into customized
products. This network powers some of the industries' leading providers of
converged communication services such as: wholesale transport carriers,
wireless providers, broadband phone companies, VoIP service providers, prepaid
service providers, and voice-enabled application service providers.
InterMetro's experienced team has a customer-centric approach with a proven
track record of success.
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