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Next Level gets $20 million in financing

Next Level Communications, a telecommunications gear maker, said it has received a $20 million loan from wireless technology giant Motorola. The $20 million is in addition to a $60 million loan Next Level got from Motorola earlier this year. Motorola owns about 75 percent of Rohnert Park, Calif.-based Next Level. The loan terms and conditions are substantially the same as the earlier financing, Next Level said, except that Motorola will be given an option to convert up to $20 million of debt into Next Level's next round of equity financing. The company did not say how it would use the additional funding.

Next Level Communications, a telecommunications gear maker, said it has received a $20 million loan from wireless technology giant Motorola. The $20 million is in addition to a $60 million loan Next Level got from Motorola earlier this year. Motorola owns about 75 percent of Rohnert Park, Calif.-based Next Level.

The loan terms and conditions are substantially the same as the earlier financing, Next Level said, except that Motorola will be given an option to convert up to $20 million of debt into Next Level's next round of equity financing. The company did not say how it would use the additional funding.