Thermo Credit has extended a $1,150,000 line of credit to 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, a leading provider of cloud communications and broadband solutions in Southwest Florida.
Thermo Credit 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 [Smith] and his team on future acquisitions.”
Digerati 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 knows 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.”
