Net Element (NASDAQ: NETE) Successfully Converts $2 Million Term Loan into $2.5 Million Revolving Loan

  • Extends loan to May 20, 2021, can take monthly advances up to $1 million
  • Proceeds to be used for retirement of debt, general working capital
  • North American Transactions segment jumps 40% in leading the way for NETE’s $13.6 million revenues in 1Q17

Net Element, Inc. (NASDAQ: NETE) has successfully converted its $2 million term loan into a $2.5 million revolving loan, which enables NETE and its subsidiaries to take advances of up to $1 million every calendar month. The loan date was also extended to May 20, 2021, from the original date of May 20, 2019.

NETE is a global financial company that supports other firms with a cloud-based system of accepting electronic payments in an omni-channel environment. The company has three segments: North American Transaction Solutions, Mobile Payment Solutions and Online Payment Solutions. A growing percentage of its revenue comes from the…

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