Funding company Thermo Credit LLC has pumped another round of money into the telecom industry.
The New Orleans-based firm said late Thursday it has given IP Networks Inc. $2.5 million in asset-based loans to fuel growth.
IP Networks is headquartered in San Francisco and specializes in metro Ethernet, WANs and direct Internet services.
“Not having to educate your financial partner while growing your business is invaluable, which is why Thermo will be part of our long-term capital structure,” said Gary George, president of IP Networks, in a prepared statement.
IP Networks marks the third major company within the past six months Thermo Credit has funded.