SAN DIEGO, CA / ACCESSWIRE / March 13, 2023 / TPT GLOBAL TECH, INC. ("TPTW' or "TPT Global Tech") (OTC PINK:TPTW) www.tptglobaltech.com based in San Diego, California , a leading-edge technology company, today announced its subsidiaries TPT Strategic, Inc. and Information Systems Technology (IST) have secured a Letter of Intent for a $357.9 million vertical construction loan from LNH Capital , and Prime One Lending Group both Dallas -based banks for its Alabama Smart city projects subject to underwriting, appraisal review and quality control standards among other customary underwriting activities.
All development and construction activities will be managed through its Real Estate and Development Technology division TPT Strategic OTCBB:INOQ. The company recently acquired Information Security and Training (IST), which is based in Huntsville, Alabama , with other offices in Tennessee , Mississippi , Kentucky , Louisiana , and Washington State . IST pivoted to a General Contracting firm 15 years ago completing over 100+ Federal Government Commercial and Industrial construction contracts.
"While it's been a long-time coming, this loan should allow us to immediately move toward initiating the Smart City projects we've had in the pipeline in Alabama ," said TPT Global Tech CEO Stephen Thomas . "We appreciate the patience and confidence our shareholders have shown and believe this should open the door to more Smart City projects and bring critical housing, jobs and improve the economy of an area in need."
" Prime One Lending Group knows the best way to create a more inclusive economy is to invest in the rebuilding of communities like Birmingham . We have listened and learned that minority-led businesses need access to multiple levels of capital to scale. Spotlighting organizations like TPT Global Tech and providing funding for new development deals like this give leaders like CEO Stephen Thomas the resources they need to increase their impact," said Benaisha Poole-Watson, CEO of Prime One Lending Group ."
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