WESTBURY, NY / ACCESSWIRE / April 29, 2021 / FAVO Realty Inc. (OTC PINK:FAVO)
- Over the Past 7 Months (as of April 27, 2021)
- Recently Raised over $3.0 Million in 18 and 24 Month Debt Which is Being Used to Finance Small Businesses in Syndication with Seasoned Partners
- Portfolio Average Factor is 1.40x over 6.7 Months
- Partnered and Participated with Over 20 Direct Funders in Syndication Which Has Provided Over 900 Small Businesses With $90 Mil in Short-Term Working Capital
- Participated in approximately 3.3% of that $90 Mil of Funding - Extending $3.1 Mil in Working Capital with A Right-To-Receive "RTR" Of Over $4.3 Mil Over the Next 7 Months
- Loss Rates are Currently Running Under 3.0%, Well Below the 9.0% Reserves and the Estimated Industry Average of Between 8.0% to 10.0%
- The Current Portfolio Represents an Annualized EBITDA as a % of Principal Balances Extended of 27.6%
Vincent Napolitano, CEO, stated, "The new business line is off to an incredible start and we look forward to continued momentum in the Funding and Merchant Cash Advance Ecosystem." He added, "I am extremely excited that we can generate and recognize favorable returns on investment while providing much needed cash to small businesses struggling to recover post-covid."
Shaun Quin, President, added, "We are also extremely pleased to announce that all financial statements & disclosures have been filed and we have achieved the milestone of obtaining Pink Current Information Status on the OTC Markets."
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 PINK). 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
CONTACT:
Email: [email protected]
Tel: 833.328.6477
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