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MILWAUKEE - Telkonet
Inc. on Friday announced its been granted a $2 million tradition
business credit line from San Jose, CA.-based Bridgebank.
The credit line will
allow Telkonet the flexibility and capital to secure additional
revenue projects, according to a company statement. Historically,
many of Telkonet’s energy management projects have required the
company to contribute cash toward a performance bond to secure and
begin a project.
The addition of the
credit line provides additional working capital, and allows Telkonet
the ability to have multiple bonded projects open simultaneously,
according to a company statement.
“Twenty four months
ago, we could not even consider the possibility of a traditional
credit line to assist in the growth of our business model,” said
Jason Tienor, CEO of Telkonet. “However, we've been able to
sanitize our balance sheet, introduce incredible technology and are
now being recognized as a significant solution-provider in the
rapidly expanding occupancy-based, energy management industry.”
Milwaukee-based Telkonet
is an energy management technology provider, which offers hardware,
software and services to commercial customers worldwide.
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