Over the Past 5 Months the Company Has:
- Raised Approximately $2 Million in Long-Term Debt
- Successful Launch of a New Corporate Website - www.favocap.com
- Moved to A New Corporate Office Doubling Space Needed for Growth
- Partnered and Participated with Over 20 Direct Funders in Syndication Which Has Provided Over 440 Small Businesses With $59 Mil in Short-Term Working Capital.
- Participated in 2.5% of that $59 Mil of Funding - Extending $1.5 Mil in Working Capital with A Right-To-Receive 'RTR' Of Over $2.1 Mil Over the Next 6.5 Months
WESTBURY, NY / ACCESSWIRE / March 2, 2021 / FAVO Realty Inc. (OTC Pink:FAVO)
Today, Favo Realty, Inc. officially changes its corporate name to Favo Capital, Inc., a reflection of the company's new Alternative Business Funding and Finance Division. The core focus is to provide small business with quick, simple access to secured and unsecured working capital. FAVO Capital, Inc. recently raised a little over $2,000,000 in 18 and 24-month debt and this capital is being used to finance small businesses in syndication with our seasoned partners.
The Company's current syndication portfolio has an average factor rate of 1.40 over 6 ½ months. The current loss rate is under 1.0% while industry averages are 8.0% to 10.0%.
Additionally, FAVO Capital, Inc is proud to announce we have launched a new corporate website under www.favocap.com and moved into new corporate office to support our growth.
Vincent Napolitano, CEO, stated, 'I am extremely pleased with the successful launch of our new funding division. Our goal is to continue to build our balance sheet by borrowing long-term and funding small businesses short-term.'
Mr. Napolitano, added, 'We have partnered with over 20 of the nation's top funders and will continue to expand our relationships with the goal of always maintaining a diversified portfolio which we believe will help build long-term value for shareholders.'
Shaun Quin, President, added, 'With the positive momentum and rapid growth we have had over the past two quarters, our focus has been on the Infrastructure, Risk Management, Systems Integration and building relationships with new partners. Along with that we have implemented a new accounting system and we are currently working very hard to bring our reporting status current by filing the last two quarters and year-end of 2020'.
More About FAVO Capital 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.favocap.com
More About FAVO Group, LLC:
FAVO GROUP, LLC is the External Manager of FAVO Capital, 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 Capital, Inc and FAVO Group, LLC
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