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    TPT Global Tech Wants The Last Word

    Edward D. - 2020-04-28T21:00:00.000Z

    At the start of this year, TPT Global Tech (TPTG), the media hub/telecommunications company, announced that it had successfully paid off a merchant cash advance loan of $753,000. The financing was provided by the New York City lender, Advanced Funding.

    The loan was used as part of the convertible debt facility that the company raised for a new product. The funding allowed for the purchase of SpeedConnect, a rural wireless Internet Service Provider. Currently, Speed Connect has 16,000 customers in the midwest of the US.

    The company acquired SpeedConnect on April 14, 2019, for a total of $2 million. This is the third acquisition since it launched in 1988.

    The Terms

    The principal business cash advance loan from Advanced Funding amounted to $500,000, with a repayment term of ten months. TPT Global Tech made weekly payments of $17,800 for a final payoff of $753,000. 

    Cash advance loans come in the form of short term lending. They’re offered to businesses that have an immediate need for cash. There’s no shortage of offers for quick cash advance online loans available. Anyone is able to access this sort of funding as long as they have a valid social security number, bank account, and steady income. 

    Looking Toward The Future

    Now that the company has paid off its merchant cash advance, they’re looking toward a prosperous future. The CEO of TPTG, Stephen Thomas, noted that he is “pleased that the company keeps moving in the right direction.”

    Since the company will no longer be responsible for paying close to $80,000 per month, that extra cash flow should allow TPTG to keep up with their current 4G+/5G rollout. 

    About TPTG

    TPT Global Tech Inc. is a Technology/Telecommunications Media Content Hub based in San Diego, California. The company is focused on domestic and international syndication and provides tech solutions to businesses around the world. 

    TPTG offers network-related products to small ventures including Cloud-based Unification as a Service (UCaaS), Software as a Service (SaaS), and Technology Platform as a Service (PAAS). It provides support for businesses across its private IP MPLS fiber network.

    The services offered by TPTG allow businesses of any size to enjoy all of the collaboration tech available in today’s market. These features include the latest in voice, data, media, and sharing. 

    TPT Global Tech is also a master distributor of prepaid cell phones, smartphone accessories, and global roaming mobile devices. The tech company gathers big data from customers and uses it to predict viewing and spending habits. 

    The Verdict

    Whether or not TPTG will grow as a company is uncertain. It was a decisive moment for the business when they paid off any remaining cash advance loans, but it’s challenging to determine what precisely this means for the future. 

    Despite forward-looking statements in recent press releases, there are no assurances whether or not the company will see an increase in activity. In this case, there’s no way of predicting how being debt-free will lead to accelerated growth, profitability, and new service offerings. Though they may want it, chances are TPTG may not have the last word.