Glowpoint gets cash to grow its video conferencing solutions

Glowpoint, a telepresence and video conferencing managed service provider, has a little more capital on hand to grow today.

The company announced that it has entered a loan and security agreement with Silicon Valley Bank to borrow as much as $5 million.  Set at a six percent interest rate, the credit line is initially for a two year period. This positive outcome in a tough economy where banks have been a lot cautious with their loan dollars is a vote of confidence for the video conferencing services company.

"We are excited about our new partnership with Silicon Valley Bank as it will better enable the Company to build on its mission to enable a global community where video is part of everyday life. We will now have more means to rapidly enhance our agnostic and open video service platform to meet the growing global demand of telepresence and video conferencing," said Dave Robinson, Glowpoint's co-CEO in a release. 

For more:
- read the news release

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