Nova Scotia Business Inc. has authorized an interest-bearing, repayable $400,000 loan to help a local IT company expand its business.
The loan will give Internetworking Atlantic Inc. more working capital.
Internetworking Atlantic Inc.
, a Halifax-based information and communications technology service provider since 2002, has an extensive fibre-optic network and data centre in Halifax. The company provides a range of information and communications technology services, including data centre and cloud services, internet protocol telephony, and professional services. It has 24 employees that design and implement innovative solutions for customers. Internetworking Atlantic Inc. services focus on mission-critical requirements of business, institutional and government customers.
“We serve about 400 customers in Nova Scotia and around the world,” said Bruce MacDougall, president of Internetworking Atlantic Inc. “We have customers based in the rest of Canada, the U.S., and several European countries. We have the capacity to grow, and this financing will allow us to do just that.”
Internetworking Atlantic Inc. is the only telecom service provider in the province focused exclusively on business customers. It owns several hundred kilometres of fibre-optic cable in Halifax alone, which would, if the glass strands were laid end-to-end, circle the globe.
The company also has networks in New Brunswick and Prince Edward Island. It partners with international fibre-optic carriers, giving it access to high-speed links in western Europe, the United States, and Toronto.
“Part of our role at NSBI is to help Nova Scotia companies access capital to grow,” said Mike Queripel, director of business financing. “Internetworking Atlantic Inc. has a unique set of assets and services that has positioned the company for the next level of growth, and this loan is intended to help them move forward with the next phase of their business plan.”
Nova Scotia Business Inc. works with companies that are ready for growth, to structure financing packages tailored to their specific needs.