Server Hardware Funding, Garnered by Web Hosting Solutions Firm, iWeb
Quebec, Canada - (The Hosting News) - May 4, 2007 - Web hosting services company, iWeb, has obtained financing from the Bank of Montreal (BMO), over and above funds previously announced, in the amount of $1,000,000.
The additional amount will go toward purchasing server hardware to provide iWeb's clients with dedicated server services, one of iWeb's niche market that is enjoying substantial growth. It may also be used to acquire other computer equipment for the company's two data centers. As things now stand, these funds will allow for acquisitions beyond the financial year ended September 30, 2007 and through the first quarter of 2008. The additional debt will take the form of a 36-month term credit of $1,000,000, at a rate of prime plus 2.5 %.
Martin Leclair, Co-founder and Chief Operating Officer of iWeb remarked, ''After financing the expansion of our data centers, it was time to fund the purchase of servers to be installed, for the most part, in phase two of the iWeb-CL facility. It's mainly by leasing out this hardware that the company will be able to maximize returns on its investment.''
Founded in 1996, iWeb offers a full line of advanced web hosting services either through shared hosting, dedicated servers or colocation in its own data centers featuring 25,000 square foot of floor space and the latest technological equipments. iWeb provides services in English, French and Spanish to clients in more than 140 countries.
For more information about iWeb, please visit: www.iweb.ca.
Posted on Friday, May 04 @ 09:23:24 EDT by editor
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