October 19, 2012
InterMetro Raises $3 Million Senior Credit Facility
By Rahul Arora TMCnet Contributor
InterMetro Communications, Inc. (IMTO), a facilities-based IP communications provider of enhanced voice and data communication services, recently announced that it has raised $3 million senior credit facility through a multi-year agreement with Transportation Alliance Bank ("TAB Bank"). The officials from the company said the funds will be used to expand the IMTO’s operations as the company is looking to launch new products and services in the future.
"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."
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.
"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."
In related news, InterMetro recently selected Solarsoft's production monitoring and manufacturing execution system for its injection molding facilities in Acuna and Cuauhtemoc, Mexico. Metro has used Solarsoft's Mattec MES for 20 years. Metro will utilize and transfer its Mattec MES best practices to its facilities in Mexico. In addition to production monitoring, Metro uses Mattec MES for mold and equipment preventative maintenance planning, production scheduling, and automated downtime alerting, the company said.
Edited by Rich Steeves