Telovations feels crunch, goes for venture capital

A Tampa-based communications services company is looking to add debt — but won't be asking the bank for a loan.

Telovations, a young company in Tampa's Westshore district, presented at both the Sarasota and Naples chapters' of the Gulf Coast Venture Forum this week. The goal: access to credit.

The company's chief executive officer, Mark Swanson, says shifting markets caused their previous bank to close out their line of credit worth $2 million. As a result, Swanson says, “We're looking for debt.”