| Vertical Communications Secures $10 Million Line of Credit with ...
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Vertical Communications (VRCC.OB) ("Vertical"), a leading provider of next-generation, IP-based phone systems and applications that help businesses better serve their customers, announced today it has secured a $10 million line of credit from SVB Silicon Valley Bank. The financing will be used for working capital and to support Vertical's growth strategies. SVB Silicon Valley Bank is the commercial banking arm of SVB Financial Group (NASDAQ: SIVB). "As we continue to transform Vertical and execute our growth strategy, it is important to establish a banking and lending relationship with a partner familiar with our industry and our business plan," said Bill Tauscher, chairman and chief executive officer. "The new line of credit facility with SVB Silicon Valley Bank allows us to pay off a higher cost short-term obligation and provides us with improved flexibility to manage our working capital requirements into the future." "SVB is proud of Vertical's success thus far," said Irina Case, senior relationship manager, SVB Silicon Valley Bank.
Savvy Real Estate Investors Now Use Unsecured Business Lines of ...
According to real estate financing expert Thomas Kish, "The collapse of the subprime real estate mortgage industry doesn't have to be the end to real estate investing." With an optimistic eye he said "The great deals are out there even if the money to buy them and fix them up has gotten harder to access."
Tom Kish has a built a successful investment career through his own company CashFlowExperts.Biz Inc. using his trademarked system called the Ultimate Real Estate Investors Guide. As a business man and investor he's had the opportunity to keep a critical eye on the top mortgage companies, and other financial institutions who have recently failed due to their poor credit mortgage refinancing strategies. "Hundreds of individuals are being locked out of securing the financing and funding for their real estate deals and smart investors need to learn how to begin leveraging unsecured business lines of credit." says Tom.
Swiss shares lower in afternoon trade on prospect of weaker Wall ...
ZURICH (Thomson Financial) - Share prices were slightly lower in afternoon trade with Wall Street indicating a lower opening and the ECB's rate hike already priced in, dealers said.
At 2.50 pm, the Swiss Market Index was down 48.26 points at 9,365.97, and the Swiss Performance Index down 43.11 points at 7,614.65.
The euro fell to 1.6449 sfr, while the dollar dropped to 1.2168 sfr.
'The market is slightly lower because of the (currently) weaker US market, but we don't expect the new ECB interest rates to impact on Swiss banks since the change was in-line with expectations,' a Vontobel Bank trader said.
The ECB earlier raised interest rates 25 basis points to 4.00 pct.
Banking stocks were weaker across-the-board, with UBS shedding 1.1 pct or 0.90 sfr at 77.30 and Credit Suisse declining 1.2 pct or 1.15 sfr to 91.30.
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