This commitment from Texas Bank & Trust will allow us to significantly lower our cost of interest, as well as accelerate our growth in the LEC billing and funding arena and help increase cash-flow of our wholesale inmate telecommunication customers.
Longview, TX (PRWEB) December 2, 2008
NCIC Inmate Telephone Services, a leading provider of correctional phone services, today announced that it has secured $2.85 million in funding from Texas Bank & Trust, a privately-held bank based in Longview, Texas. NCIC Inmate Telephone Services ("NCIC") will use the proceeds to fund receivables for its largest customers and invest in the growth of the company. The company said it would continue to invest in new VOIP technology and infrastructure, increase its in-house advertising / sales capabilities, continue to expand its phone service offerings-including new investigative tools on the jail phone platform and a rollout of its new centralized platform for the short-term inmate facilities.
"This commitment from Texas Bank & Trust will allow us to significantly lower our cost of interest, as well as accelerate our growth in the LEC billing and funding arena and help increase cash-flow of our wholesale inmate telecommunication customers." said Bill Pope, President of NCIC.
Jay Walters, Vice President stated: "Since launching our new VOIP-based inmate phone system late last year, the company realized a decrease in customer service labor and a 50% increase in inmate telecommunications revenue. The additional capital from Texas Bank & Trust will enable us to go full-steam ahead with expanding our collect call phone billing division, as well as our wholesale telephone platform for the corrections industry."
Bill Pope also said, "We are excited to have been able to grow our company during the recent economic downturn and we expect to see phenomenal growth in 2009 and 2010 as our industry continues its consolidation and rate regulation."
About NCIC Inmate Services:
NCIC Inmate Telephone Services, Inc. is a privately-held wholesale provider of Inmate Phone Systems and phone billing services in over 6 countries. The Company operates a networked cluster of inmate calling platforms across the United States and a multilingual customer service call center located in Texas. In addition, the Company provides collect call and prepaid inmate telecommunication services for the detention and jail industry.
For more information about our operator service products and directory assistance, please visit our websites at http://www.ncic.com and http://www.inmate-phone-service.com or give us a call at 1-888-686-3699.