Communications World International receives $1 million line of credit.DENVER--(BUSINESS WIRE)--Jan. 26, 1995--Communications World International, Inc. (CommWorld) (NASDAQ-CWII), a provider of telecommunications systems, peripherals and services, today announced it has received a $1 million line of credit from Republic Acceptance Corporation, a unit of First Bank Systems. First Bank Systems owns Colorado National Bank and is a $25 billion financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company based in Minneapolis. The financing was arranged for CommWorld by JMW JMW Junior Maine Woodsman Capital Partners. The new credit facility replaces a $400,000 line of credit from another firm, and is indicative of the improved financial strength of CommWorld, said Richard D. Olson, president. Olson added that the Company may now utilize its accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying and inventory for financing while the previous credit facility was available for accounts receivable financing Accounts Receivable Financing A type of asset-financing arrangement in which a company uses its receivables - which is money owed by customers - as collateral in a financing agreement. The company receives an amount that is equal to a reduced value of the receivables pledged. only. He said the new line of credit also carries the benefit of a higher advance rate on receivables. "This new credit facility represents a 150% increase over our previous credit facility," Olson said. "We are now better positioned to meet the growing demand of our nationwide network of franchises and Company-owned locations." CommWorld provides telecommunications systems, peripherals and services to 50,000 businesses through a nationwide network of 63 franchise dealers, a national accounts division and four Company-owned locations. The Company is positioning itself in the open market between AT&T and the Bell operating companies on one end, and the more than 10,000 small interconnect product providers across the United States on the other. CONTACT: Communications World International, Inc. Richard Olson, president, 303/721-8200 or INVESTOR RELATIONS Investor relations The process by which the corporation communicates with its investors. CONTACT: Lee Skoblow, 212/338-0610 or MEDIA CONTACT: Pfeiffer Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most , Inc. Lillian Craze, 303/393-7044 |
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