Akeena Receives Expanded Credit Line

Posted by SI Staff on December 26, 2007 No Comments
Categories : FYI

Akeena Solar Inc., a designer and installer of solar power systems, has received a commitment from Comerica Bank to increase its existing credit line from $7.5 million to $25 million.

‘With this additional borrowing capacity, coupled with our recent $26.1 million equity raise, Akeena will have the financial flexibility and resources to fund our working capital needs and ambitious growth plans for the intermediate future,’ says Gary Effren, Akeena Solar's chief financial officer.

‘We have a strong working relationship with Comerica and are pleased by their recognition of the growing strength of the company's balance sheet and financial condition,’ he adds.

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