GARDEN CITY, NY / ACCESSWIRE / August 26, 2020 / FAVO Realty Inc. (OTC Pink: FAVO)
FAVO Realty Inc. is pleased to announce that pending regulatory filings and approvals the Management Team and Board of Directors has voted to change the corporate name to FAVO Capital, Inc. The Company is launching an Alternative Business Funding and Financing Division under the FAVO Capital brand. FAVO Capital will address the funding gap experienced by small to medium-sized businesses that are looking to grow. FAVO Capital will provide these businesses with quick, simple access to secured and unsecured working capital.
FAVO Capital will specialize in Merchant Cash Advance (MCA) Funding and will act in multiple capacities such as a Direct Funder and as a Syndicate Partner. FAVO Capital also plans on providing small to medium-sized businesses with end-to-end finance solutions, such as Accounts Receivable Financing, Purchase Order Financing, Equipment Finance and Leasing, Lines of Credit, Commercial Real Estate (CRE) Financing and SBA Loans.
Vincent Napolitano, CEO, stated, "We have decided the time is right to enter the merchant cash advance / alternative business funding industry. We believe the Covid-19 pandemic reset the industry and as the economy rebounds, many banks will be forced to revamp their criteria for approving loans, which is already a very cumbersome process." He added "FAVO intends to fill the void with a streamlined approval and financing process for both Independent Sales Organizations (ISO) and merchants nationwide. Application to funding occurs within 24 to 48 hours."
FAVO Capital Inc. will have two divisions - Lending and Commercial Real Estate (CRE). Lending will fall under the FAVO Capital Brand and CRE will be under the FAVO Realty Brand. We will be launching a new corporate website under www.favocapital.com and both divisions will focus on adding long-term value to the brand, shareholders, investors, and partners.
Shaun Quin, President, stated, "Our portfolio will consist of direct lending and syndication with strategic partners and we will offer affiliate and partner programs for ISO's nationwide. We intend on expanding our executive team. We are currently seeking to hire a senior merchant finance executive to manage the day to day operations of the lending division and we believe that search will be complete shortly."
Mr. Napolitano, CEO, added, "The MCA funding business is a $20 billion dollar a year industry that is growing. I plan on using a Wall Street background to make FAVO the most compliant merchant funder on the street and we will always look at small business owners and merchants as our partners and if they thrive and prosper, we will too!"
More About FAVO Realty Inc.:
FAVO CAPITAL is a Direct Funding Company, which provides customized, short-term funding to small and mid-sized businesses nationwide. FAVO Realty is a Real Estate Investment Company which invests in a diversified portfolio of quality commercial real estate properties throughout the United States. "FAVO" is "Honeycomb" in Latin - The Honeycomb (Hexagon) is the most efficient shape in the universe. FAVO Realty Inc. intends to be Efficient, Flexible & Durable. www.favogrp.com
More About FAVO Group, LLC:
FAVO GROUP, LLC is the External Manager of FAVO Realty Inc. (FAVO - OTC Markets). They were founded by a Group of Capital Market, Finance, Real Estate and Business professionals with over 100 years of collective experience and have transacted in over $6 billion of related transactions. www.favogrp.com
Safe Harbor/Forward-Looking Statements
This press release contains certain forward-looking statements including, but not limited to, statements, estimates, and projections of future trends and of the anticipated future performance constitute "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, as amended, including, without limitation, statements regarding the Series' expectations, beliefs, or future strategies that are signified by the words "expects," "anticipates," "intends," "believes," or similar language. These forward-looking statements concern the Company's operations, economic performance and financial condition and are based largely on the Company's beliefs and expectations. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Actual results may differ materially from expected results. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of this press release FAVO Realty, Inc and its Management Team expressly disclaims any obligation to update any such forward-looking statements in this document to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements, unless specifically required by law or regulation
SOURCE: FAVO Realty, Inc and FAVO Group, LLC
View source version on accesswire.com: