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Fortran Closes $4MM Revolving Credit Facility With TCA Global Credit Master Fund

March 21, 2014, 07:31 AM
Filed Under: Communications

Fortran Corporation announced that it has closed on a $4 million revolving line of credit. Under the terms of the agreement, TCA Global Credit Master Fund, L.P. committed to lend $4 million through one of the Fund's Senior Secured Revolving Notes, with an initial draw of $900,000. The company meets specific monthly reporting and collateral requirements to further draw on the revolving credit facility.

Douglas Rink, CEO of Fortran Corporation, stated, "We secured this credit facility with TCA Global that will support the company's financing needs throughout the rest of this year.  This facility will assist us with working capital and provide the capital structure needed to further our corporate strategy of continued growth by acquisitions in our Telecom and related divisions."

TCA Global is a short duration, absolute return fund specializing in senior secured lending to small, mainly listed companies in the U.S., Canada, Western Europe and Australia. The firm has a level of domestic and cross-border expertise, long-standing experience and funding innovations, as is reflected in the number of transactions completed.

Fortran is a communications system integrator through its subsidiaries, NTC, B & L Telephone, LLC, CCI-Telecom, Inc., Fortran Communications, Inc. and Wynncom, Inc. Fortran is dedicated to designing, sourcing, implementing and maintaining communications solutions for business and governments. Fortran currently services more than 5,500 clients in 2 states with 4 offices in the Southeast.







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