York Telecom and Citibank Team Up
EATONTOWN, NEW JERSEY— 9/22/2011-York Telecom Corporation, the global provider of visual communications services and solutions, announced that they have partnered with Citibank.-N.A. to be their business and financial bank. The financing from Citibank, ($10 million revolving line of credit and $2 million term loan) is in addition to financing received from New Spring Capital and Petra Capital that was raised in the past several years and is firmly directed to our ongoing working capital and expansion needs.
Judi Pulig, Acting CFO for York Telecom, commented, “Despite a great relationship with our former bank, we felt the time to change was now. York is heading toward dramatic changes with the presence of new company President& COO, David Phillips, and it was important that we had a bank that was capable of keeping pace with us.”
David Phillips, President& COO of York, said, “Citibank quickly recognized that York was an aggressive and progressive company and wanted to be part of that new direction. It is comforting to know that there is a company out there ready to back our dreams and our direction.”
Ron Gaboury, CEO of York, noted, “The fact that a world class bank like Citibank supports our vision in such a tangible way simply reinforces our creditability and provides the requisite financial muscle to carry out our plans effectively.”
“We are pleased to provide York Telecom with the financial resources to support its ongoing operations and strategic growth. Through the partnership with our Commercial Banking team, York Telecom can access our subject matter experts in the U.S. and around the world who can help them drive their business toward its new goals,” said Bob Koar, Citibank, Commercial Banking, Eastern Region President.
About York Telecom
York Telecom is a leading provider of visual communication services and solutions for Commercial, Education, Medical and Public Sector clients. Founded in 1985, the company is headquartered in Eatontown, New Jersey. The company offers total managed conferencing services, consulting, integration and operational services, professional video production and postproduction for visual communication solutions such as Videoconferencing, Streaming Media, Video on Demand, Custom Media Studio and Room Design and Multimedia Network Management. York Telecom has worldwide branch offices, a multi-lingual VNOC and help desk and a worldwide integration, production and support force. For more information, visit York Telecom online at www.yorktel.com or email at info@yorktel.com.