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4/24/06 WisperTel secures credit lineWisper Telecommunications Inc. announced Monday that it's acquired a $700,000 line of credit from SVB Financial Group's Silicon Valley Bank. The funding will be used for working capital and network expenditures. Based in Evergreen, WisperTel is a small wireless Internet service provider (WISP) that covers more than 1,500 square miles and services more than 3,000 customers. The company provides Internet data service as well as Internet phone service through its wireless network. Based in Santa Clara, Calif., SVB Financial (NASDAQ: SIVB) is the holding company for Silicon Valley Bank, which provides financial services to emerging growth and mature companies in the technology sector. |
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