MTM Technologies (MTMC) Receives $6.5 million in Funding from Current Lender and Investors
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MTM Technologies, Inc. (NASDAQ: MTMC) announced that it has received $6.5 million in additional funding to improve its working capital position.
Columbia Partners LLC, MTM's existing secured debt facility lender, increased the existing debt amount by lending an additional $3.0 million. Columbia also agreed to ease certain financial covenants on a temporary basis. MTM Technologies agreed to increase the interest rate due upon repayment of the principal as part of the new loan agreement.
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