MIAMI, Dec. 3, 2014 /PRNewswire/ — Cima Group, the global telecommunications conglomerate, closed a multi-million dollar line of credit with BB&T this past week. This deal will support continued growth and expansion for all Cima Group companies, which include: Auris and Cima Telecom.
In addition to the line of credit, BB&T will support merchant services for the Group, as well as cash management through their Treasury Services Department. This will allow Cima Group to continue to expand its businesses- while having the support of one of the largest banks in the U.S.- for all future cash flow needs.
“In this ever-changing industry which has compressed margins over time as well as fierce competition, Telecom companies require the support of the right partners. Obtaining this support from BB&T will allow us to focus on the best business opportunities, and not on cash flow restraints,” explained Juan Martin Gomez, CEO of Cima Group. “Our mission is to deliver simple solutions through reliable technology and innovative services, and to do this as a leader within the industry. With the support of BB&T we now have the ability to deliver our mission,” added Gomez.
For the past eight years, Cima Group has seen a steady double-digit growth throughout its companies. The line of credit with BB&T will allow the conglomerate to continue to develop with an impressive 30-40% additional expansion.
“Cima Group has an aggressive strategic plan to escalate their global operations. At BB&T we are excited to support Cima Group as they reach this goal and become a true leader in the telecommunications industry,” stated Daniel Acevedo, Senior Vice President of BB&T.
Cima Group is a global telecommunication solutions provider and integrator. Since 1981, Cima Group has provided retail long distance services, wholesale international and domestic long distance services, fiber network solutions through its ownership in the Maya Cable, and value-added platform service applications that manage retail and wholesale telecommunication services and products.