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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 Bam Bam17: [QB] HCPC News Heritage Capital Credit Corporation Provides BCLOC Program Update WILMINGTON, Del., Dec. 21 /PRNewswire-FirstCall/ -- Heritage Capital Credit Corporation (Pink Sheets: HCPC) provides the following update on the status of the BCLOC Program. -- The Company has arranged a funding commitment for its first commercial project that will ultimately be put into a BCLOC security. The transaction is in the amount of approximately $6,000,000 and is expected to close on or before January 22, 2008. -- The Company has endeavored to reaffirm the interest of the original applicants for the $740 million in the BCLOC Program. To date, we have more than $740 million in requests for funding. Although some of the original applicants no longer desire funding, their funding allocations have been requested by other original applicants. -- The Company plans to extend the delivery of the BCLOC applications for funding to the first half of 2008, due to the severity of the credit market crises and the number of incomplete BCLOC applications. 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. To date, the Company has not delivered any projects for funding. For more information, visit the website: http://www.heritagecapitalcreditcorp.com. 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, actual results may differ materially from the expectations expressed in the forward-looking statements. Contact: Heritage Capital Credit Corporation Richard Razzeca, VP, Tel: 302-778-4222 Email: info*heritagecapitalcreditcorp.com SOURCE Heritage Capital Credit Corporation [/QB][/QUOTE]
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