SIMI VALLEY, Calif., Oct. 17, 2012 (GLOBE NEWSWIRE) -- InterMetro Communications, Inc. (Ticker: IMTO) today announced a new $3 million senior credit facility through a multi-year agreement with Transportation Alliance Bank ("TAB Bank"). This new facility will provide additional working capital for increasing customer sales and the roll-out of new products and services.
"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."
TAB Bank, an FDIC insured bank with assets in excess of $800 million, specializes in providing working capital solutions to small- and medium-sized commercial businesses across a wide range of industries.
"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."
About InterMetro Communications:
InterMetro Communications is a leading facilities-based IP communications provider of enhanced voice and data communication services. 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. InterMetro's experienced team has a customer-centric approach with a proven track record of success.