August 27, 2007 – (HOSTSEARCH.COM) – A worldwide internet infrastructure provider iWeb Group Inc. (http://iWeb8.com) has announced that it has obtained additional financing facilities that will be used to acquire equipment for the expansion of its second datacenter.
As part of Phase 3 of the set-up of its datacenter in St-Léonard, the Company has accepted two offers of financing in the form of lease obligations for a total amount of $954,000. The first loan, of $646,000, repayable over a period of 48 months, will bear interest at a variable rate based on the rates for 30-day banker’s acceptances plus 3.97%. The second loan, of $308,000, repayable over a period of 60 months, will bear interest at a fixed rate of 7.3%.
“The rapid growth of the digital age and the Internet are driving the strong increase in demand for hosting and data management solutions. For many years now, demand for our services has been rising constantly, and so we are expanding our second datacenter in St-Léonard in order to increase our capacity. Currently, this data center’s utilization rate exceeds 70%.” commented Mr. Marc Guindon, iWeb’s Chief Financial Officer. “We have to keep investing in our infrastructures in order to ensure reliability and redundancy. These characteristics are essential to our growth and enable us to provide a value-added service, free of interruptions.”
