BEVERLY HILLS, CA--(Marketwire -03/16/12)- MOBILE STAR CORP. (OTCQB: MBSTD.PK - News) (Pinksheets: MBSTD.PK - News) is pleased to announce a strategic partnership with ACG Company to co-underwrite and fund commercial real estate loans approved by Small Business Administration (SBA) CDC/504 Loan Program.
"We call it a perfect partnership," quoted Mr. Paul A. Garcia, principal and managing partner of ACG Companies, and further added, "capital participation from Mobile Star leverages the marketing and underwriting ability of ACG, we are very pleased to work with Mr. George Ivakhnik and his experienced team."
The Tuesday, March 20th, 2012 shareholder's call will discuss the Company's progress and real estate loan opportunities.
The shareholder calls are scheduled every Tuesday at 4:05PM eastern time and are open to all Mobile Star shareholders by dialing 1 (559) 726-1300, the participant code is 662-692.
About Mobile Star Corp. (MBSTD.QB)
Mobile Star Corp.www.mobilestarcapital.com was incorporated in Delaware on December 25th, 2007 and is an evolving company. Most recently, the new company CEO has initiated board-approved additional business focuses to existing course of business, including acquisition and financing of companies in socially responsible sectors of U.S. economy with "disruptive" products and strong management teams.
About ACG Company
Acer Capital Group ("ACG") www.acgcompanies.com is a global holding company of Private Equity, foreign and domestic Funds in the business of deploying capital. In 2008, ACG enter into the SBA-504 space knowing that government induced lending platforms was going to be in demand. After 4 years and over 200 transactions in the space, ACG's SBA platform has become a premier national lender in this space.
About Small Business Administration CDC 504 Loan Program
The SBA 504 Loan program www.sba.gov/content/cdc504-loan-program is a powerful economic development loan program. As of February 15, 2012, the $50 Billion in 504 loans has created over 2 million jobs. This program is a proven success and win-win-win for the small business, the community and participating lenders. 504 Loans are typically structured with SBA providing 40% of the total project costs, a participating lender covering up to 50% of the total project costs, and the borrower contributing 10% of the project costs. Under certain circumstances, a borrower may be required to contribute up to 20% of the total project costs.
A number of statements contained in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions and the ability to secure additional sources of financing. When used in this document, words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions are forward-looking statements.
- Small Business Administration
Mobile Star Corp.
Real estate division