Loading
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.”
Swanson says the money won't be used toward any new projects, but rather to support existing operations. Telovations is still growing, having expanded by 50% in 2009.
The company's business centers around “voice over internet protocol” (VoIP) services, which uses internet connections to complete phone conversations. Common examples of VoIP service providers include Skype and Vonage.
Those services are often bundled with e-mail and messaging to create a complete communications system. The company also rents out communications hardware to support its business.
The company obtained $6.5 million in funding in February 2007.
Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.
