Jan, 2002 : Fiberlink Receives $7.5m Credit Facility From Comerica

📅 January 21, 2002 - Fiberlink (fiberlink.com), a provider of mobile access solutions, and Comerica Bank, a subsidiary of Comerica Incorporated(comerica.com), announced today that Comerica's Technology and Life Sciences Division has provided the Pennsylvania company with a $7.5 million working capital facility, to be used for general corporate purposes.

"As the business community grows increasingly mobile, Virtual PrivateNetworks are becoming more and more important as a tool to improveproductivity," said April Young, senior vice president and director ofComerica's Mid-Atlantic Technology and Life Sciences Division. "Fiberlinkhas established itself as a leader in the VPN space as a cash-flow positivecompany with a rapidly growing Fortune 1000 customer base."
Founded in 1991, Fiberlink has been providing connectivity to corporate dataand applications through managed VPN solutions. Its team of professionalsdesign, develop and deploy high-performance communications solutions usingredundant backbones, and local calling coverage with more than 10,000 pointsof presence around the world. In late 2001, the Boston-based technologyresearch firm, Yankee Group, identified Fiberlink as a leading company thatmeets stringent enterprise security demands.
"While Fiberlink is excited to have emerged as a leading provider ofInternet-based VPNs, we realize the role of a service provider is tocontinue innovating to best serve the changing needs of its clientele," saidStephen Zarrilli, Fiberlink's CFO. "Getting this credit facility fromComerica Bank, a well-respected business bank with a strongtechnology-focused practice, will certainly assist us as we work towarddeveloping technology for tomorrow."

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