(Rochester, NY – April 27, 2010) – WindTamer Corporation (“WindTamer” or “The Company”) (OTC:BB:WNDT-News) announced today that it has entered into a loan agreement (the “Loan Agreement”) with First Niagara Bank, N.A. for a $1 million secured revolving line of credit (the “Line of Credit”).
The Line of Credit is available until May 1, 2011 with variable rate of interest at the Prime Rate subject to a floor of 3.25%. The Company may borrow and repay any principal amounts drawn on the Line of Credit during this period. (more…)