|[June 19, 2018]
Thermo Credit, LLC Provides Facility to Digerati Technologies
Thermo Credit (News - Alert), LLC announced that it extended a $1,150,000 line of
credit to Digerati Technologies, Inc. ("Digerati").
Thermo Credit was able to utilize its flexible funding solutions and
offer a combined financing structure in order for Digerati to complete
the first of a series of acquisitions. The facility includes a $500,000
revolving line of credit as well as a $650,000 term note.
Digerati is a Texas-based provider of technology and communications
services to small, medium, and enterprise businesses nationwide.
Digerati used the financing provided by Thermo Credit to complete the
acquisition of T3 Communications, Inc. ("T3"), a leading 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."
Digerati's CEO Art Smith stated, "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 kows our industry. 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."
About Thermo Credit, LLC
Thermo Credit is a privately held funding company that provides asset
based loans, accounts receivable financing and factoring services
primarily to the communications industry. Thermo Credit serves
established, well-run companies that need capital to expand their
business, improve their operations or fund an acquisition. For more
information, visit www.thermocredit.com
or contact Seth Block at 504-620-3101.
About Digerati Technologies Inc.
Digerati is a publicly-traded holding company, with a track record of
launching and managing successful subsidiary operations and is a
multi-year recipient of Deloitte's (News - Alert) Fast500 and Fast50 Awards, for
recognition as one of the fastest growing technology companies in North
America. Through its subsidiaries, Synergy Telecom and T3
Communications, the Company is meeting the global needs of businesses
seeking simple, flexible, efficient, and cost-effective communication
and network solutions, including cloud PBX (News - Alert), Internet broadband, SD-WAN,
SIP trunking, and customized VoIP services, all delivered on its
carrier-grade network. Former subsidiaries have included ATSI
Communications, Inc., an international telecommunications operator
serving emerging markets throughout Mexico and Latin America, as well as
GlobalSCAPE, Inc., an Internet software company trading on the NYSE that
specializes in secure file transfer through its popular utility,
CuteFTP. For more information about Digerati Technologies, please visit www.digerati-inc.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180619005007/en/
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