Facebook is looking for as much as $100 million in debt financing, BusinessWeek reports, citing two unnamed sources.
It's a difficult time to be looking for credit since many tech companies are on the hunt for new or additional financing. Making matters worse is the credit squeeze that's left many banks and lenders increasingly picky about extending any new credit.
Nonetheless, Facebook ranks high on the list of internet darlings today with one of the fastest growing user bases around. That growth carries huge technology costs and it appears Facebook wants a handful of credit lines to finance leases for more computers and other equipment.
The company has yet to secure any new financing, but the sources told BusinessWeek that Facebook has already been in talks with Bank of America and other lenders.
"Facebook always seeks to keep its costs of capital as low as possible, particularly in these uncertain economic times," the company wrote in a statement to BusinessWeek. "Along with other Silicon Valley companies, we rely on a range of tools to do so, including equipment lease lines to acquire equipment."
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