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HCPC - bot play/$35m sudden revs could be/Blow up PRs expected on $700-$1Bm in loans
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[QUOTE]Originally posted by BooDog: [QB] News for 'HCPC' - (Heritage Capital Credit Corporation Expands Product Line to Include Traditional Commercial Loans) WILMINGTON, Del., Oct 30, 2007 /PRNewswire-FirstCall via COMTEX/ -- Heritage Capital Credit Corporation (Pink Sheets: HCPC) announces the expansion of its commercial mortgage products and its funding sources. The Company has established a new division that offers a broad spectrum of commercial loan programs that range in size from $1,500,000 to $20,000,000. The Company's funding sources will include other conduit lenders, national banks and REITs that fund traditional commercial loans. These commercial loan programs will move Heritage into the financial marketplace where it will have access to some of the nation's largest commercial loan investors. Richard L. Razzeca, Vice President, will head this new division that will offer the traditional commercial loans. The Company's subsidiary, Independent Capital Credit Corporation will begin accepting and processing applications on November 1, 2007. Acceptable property types include: -- Multifamily Apartments -- Office Buildings -- Retail -- Hotels -- Industrial -- Mixed Use -- Commercial and Retail Condominiums More information will be posted on the website: http://www.independentcapitalcreditcorp.com, where applications will be accepted via email or they may be faxed (302-778-1048). With general property financial data, we can pre-qualify a commercial property for funding. No application fee is required. The Company's flagship product, the BCLOC, which provides 100% financing for commercial projects ranging from $10 million to $70 million, will continue to remain in the forefront of its loan products. To date, the Company has not delivered any projects for funding. About Heritage Capital Credit Corporation The Heritage business model, which is implemented through its subsidiary, Independent Capital Credit Corporation, is to prepare real property and commercial revenue producing assets for funding. Safe Harbor The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies, can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the factors previously listed, as well as other factors beyond the control of the company, which include the ability of the company to implement its business plans and consummate the proposed acquisition, actual results may differ materially from the expectations expressed in the forward-looking statements. Contact: Heritage Capital Credit Corporation Richard Razzeca, Vice President Tel: 302-778-4222 Email: info*heritagecapitalcreditcorp.com SOURCE Heritage Capital Credit Corporation URL: http://www.independentcapitalcreditcorp.com [URL=http://www.prnewswire.com]www.prnewswire.com[/URL] Copyright (C) 2007 PR Newswire. All rights reserved [/QB][/QUOTE]
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