Redzone Wireless, LLC Closes on $4 Million Financing through Camden National Bank
Financial Partnership with Camden National Bank in Cooperation with FAME to Improve Maine’s Broadband Speed and Access Statewide.
May 26, 2015 – Camden, Maine. Redzone Wireless, LLC, a Maine-based Internet service provider, announces the closing of a $4M business loan from Camden National Bank. This follows the Finance Authority of Maine’s (FAME) recent board approval to insure the loan, which will support the development of Redzone’s new 4G LTE Advanced wireless broadband services.
“We are honored to be partnering with Camden National Bank and FAME on this important financing,” said Jim McKenna, Redzone President & CEO. “This investment will enable Redzone to rapidly deploy next generation broadband infrastructure in select markets throughout the state.
“Camden National Bank is pleased to support Redzone in its efforts to develop improved access to broadband Internet for Maine’s homes and businesses,” said Gregory A. Dufour, president and chief executive officer of Camden National Bank. “We recognize the importance of this access and connection speed to the economic development in both the rural and urban areas of our state. Camden National is pleased to play a supporting financial role in this important effort.”
Redzone Wireless announced recently that the FCC approved its statewide wireless broadband network operating on FCC-licensed EBS (Educational Broadcast Services) spectrum within the range of 2495-2690 MHz. The company had previously announced an exclusive public/private partnership with the University of Maine System (UMS) for commercial development of this spectrum through 2043.
Redzone’s 4G LTE Advanced fixed wireless service plans meet the recently revised broadband standards of both ConnectME and the FCC. The company plans to expand its network to cover 25% of Maine’s population within 12 months, and ultimately over 90% of Maine’s population.