SCIENCE / TECHNOLOGY
CMS Enhancements Inc., a fast-growing Tustin computer company, has reached an agreement with two California banks to receive up to $25 million in loans.
The agreement is with Newport Beach-based Bank of the West and Los Angeles-based California Federal Bank. The new line of credit represents an increase over the $17-million credit line the two banks provided to CMS during its last fiscal year, which ended June 30.
“We don’t have any immediate needs for the money,” said Frederick Judd, CMS’s chief financial officer. “We are just continuing to plan for our future growth.”
CMS is a producer of computer storage devices and other accessories.