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Technology / AI and automation

INTER-TEL FINDS FINANCE FOR GROWTH

Inter-Tel Inc, Chandler, Arizona has completed multiple credit line commitments that will provide more than $25m financing for its planned growth over several years. The base is a three-year revolving credit and term loan agreement with Continental Bank NA totalling $15m, $13m replacing a smaller credit line from a former lender. The remainder comprises a five year term loan secured on longer term assets. The Continental Bank arrangement is supplemented by separate commitments for the financing of Inter-Tel’s growing Totalease programme, under which it provides its enhanced digital telecommunications systems, voice processing systems, network services and software at predictable monthly rates. Financing arrangements have been completed with Sanwa Business Credit, Heller Financial and Bell Atlantic Tricon Leasing.

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