This has been getting a lot of news. Watch for possible spike for terrific gain......PRIME RATE INVES (Other OTC:PRRM.PK) Quote data by Reuters
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Prime Rate Investors Inc -PRRM- Hurricane Disaster Loan Program Initiated
Friday September 3, 8:22 am ET
Forward Split - Stock Certificate Mailing Being Processed
CORAL GABLES, Fla.--(BUSINESS WIRE)--Sept. 3, 2004--Prime Rate Investors, Inc. (Pink Sheets:PRRM - News) announces that it has initiated a Hurricane disaster loan-mortgage program for business owners whose businesses will be interrupted by Hurricane Frances. Hurricae Frances is expected to be the largest hurricane to ever hit the State of Florida. Tampa Bay Mortgage Solutions Inc, a wholly owned subsidiary of Prime Rate, is based in Tampa, Florida. After the storm passes the company will look for businesses and companies that need quick, "Hassle free equity loans". Richard Astrom, President of Prime Rate said: "The plan is to give financing to bridge the gap between the disaster and the insurance funding, or to fund the underinsured business." Applications are being processed by fax at 305 666 3994.
Recently the company has: funded the Royal Arkansas Hotel and Suites; retained Windsor Capital, located in New York City, to find a merger candidate in the Northeast U.S.; funded a $200,000 Mortgage in Stowe, Vt.; The company is in discussions to acquire a mortgage company in the the Stowe-Burlington, Vt area.
A forward stock split (owners of 10 shares get 1 share extra) has been approved by the board of directors and was effective September 1, 2004 and the stock issuances are being processed by the transfer agent.
Prime Rate typically lends thru its subsidiary Tampa Bay Mortgage Solutions, Inc. and lends 70 percent of the value of property at rates of 15 percent per year, plus points. Typically term is 1 to 2 years. The company specialty is acquisition financing, construction loans, and lines of credit for builders and investors. The specialty of the company is "hassle free hard equity loans".
The mission of the company is to build a diverse portfolio of debt and equity instruments that will provide the shareholders with both current income and capital appreciation The company has a web site http://www.prrm.us
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Prime Rate Investors Inc -PRRM- Sept 1, 2004 Effective Date, Shareholders of Record to Receive 1 Share Extra for Each 10 Shares Owned
Tuesday August 31, 8:00 am ET
CORAL GABLES, Fla.--(BUSINESS WIRE)--Aug. 31, 2004--Prime Rate Investors, Inc. (Pink Sheets: PRRM - News) announces that a forward stock split (owners of 10 shares get 1 share extra) has been approved by the board of directors and will be effective to owners of record on September 1, 2004.
Prime Rate Investors, Inc. owns Tampa Bay Mortgage Solutions, Inc. Prime Rate typically lends thru its subsidiary Tampa Bay Mortgage Solutions, Inc. and lends 70 percent of the value of property at rates of 15 percent per year, plus points. Typically term is 1 to 2 years. The company specialty is acquisition financing, construction loans, and lines of credit for builders and investors. The specialty of the company is "hassle free hard equity loans".
The company has funded the Royal Arkansas Hotel and Suites and has been paid closing costs. Mortgage interest rate is 18%.
Last week the company funded a $200,000 Mortgage in Stowe, Vt. thru it's subsidiary Tampa Bay Mortgage Solutions, Inc. with an interest rate of 18%. The company is in discussions to acquire a mortgage company in the the Stowe-Burlington, Vt area.
PRRM has also retained Windsor Capital, located in New York City, to find a merger candidate in the Northeast U.S. Prime Rate is looking for a "hard money equity " mortgage lender in the Northeast that also lends with a maximum 70% loan to value.
The mission of the company is to build a diverse portfolio of debt and equity instruments that will provide the shareholders with both current income and capital appreciation The company has a web site http://www.prrm.us
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Prime Rate Investors Inc. Forward Split Set for Sept. 1, 2004
Monday August 30, 8:01 am ET
Has Funded Hotel Acquisition, Retained Windsor Capital for Merger
Has Funded Stowe Vermont $200K Mortgage; Owns Tampa Bay Mortgage Solutions Inc
CORAL GABLES, Fla.--(BUSINESS WIRE)--Aug. 30, 2004-- Prime Rate Investors, Inc. (Pink Sheets:PRRM - News) announces that it has funded the Royal Arkansas Hotel and Suites and has been paid closing costs. Mortgage interest rate is 18%.
PRRM has also retained Windsor Capital, located in New York City, to find a merger candidate in the Northeast U.S. Prime Rate is looking for a "hard money equity" mortgage lender in the Northeast that also lends with a maximum 70% loan to value.
A forward stock split (owners of 10 shares get 1 share extra) has been approved by the board of directors and will be effective September 1, 2004.
Last week the company funded a $200,000 Mortgage in Stowe, Vt., through its subsidiary Tampa Bay Mortgage Solutions, Inc. with an interest rate of 18%. The company is in discussions to acquire a mortgage company in the Stowe-Burlington, Vt., area.
Prime Rate typically lends through its subsidiary Tampa Bay Mortgage Solutions, Inc. and lends 70 percent of the value of property at rates of 15 percent per year, plus points. Typically term is 1 to 2 years. The company specialty is acquisition financing, construction loans, and lines of credit for builders and investors. The specialty of the company is "hassle free hard equity loans."
The mission of the company is to build a diverse portfolio of debt and equity instruments that will provide the shareholders with both current income and capital appreciation The company has a Web site: http://www.prrm.us.
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Prime Rate Investors Inc. $200,000 Mortgage Placement Stowe/Burlington, VT, Forward Split Set For Sept. 1, 2004
Tuesday August 24, 8:00 am ET
CORAL GABLES, Fla.--(BUSINESS WIRE)--Aug. 24, 2004--Prime Rate Investors, Inc. (PRRM) (Pink Sheets:PRRM - News) announces that it is funding a $200,000 Mortgage in Stowe, Vt. through its subsidiary, Tampa Bay Mortgage Solutions, Inc. Richard Astrom President said: "We are extremely enthusiastic about the Stowe/Burlington area and we are in discussions to open a Loan Production Office in Stowe/Burlington, Vt. There does not appear to be any competition in Stowe for our hard-money equity loan product and the real estate market is very strong due to the Stowe Mountain Ski Resort's $250,000,000 expansion." The mortgage placement will earn 18 percent interest for the company. Prime Rate typically lends thru its subsidiary, Tampa Bay Mortgage Solutions, Inc. and lends 70 percent of the value of property at rates of 15 percent per year, plus points. Typically, term is 1 to 2 years. The company specialty is acquisition financing, construction loans, and lines of credit for builders and investors. The specialty of the company is "hassle free hard equity loans."
A forward stock split (owners of 10 shares get 1 share extra) has been approved by the board of directors and will be effective September 1, 2004.
PRRM has retained Windsor Capital, located in New York City, to find a merger candidate in the Northeast U.S. Prime Rate is looking for a "hard money equity" mortgage lender in the Northeast that also lends with a maximum 70% loan to value.
The mission of the company is to build a diverse portfolio of debt and equity instruments that will provide the shareholders with both current income and capital appreciation. The company has a web site: http://www.prrm.us
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Prime Rate Investors Inc., PRRM: Funding Hotel Acquisition
Tuesday August 17, 8:01 am ET
Retained Windsor Capital for Merger
Forward Split Set for Sept. 1, 2004
Owns Tampa Bay Mortgage Solutions Inc.
CORAL GABLES, Fla.--(BUSINESS WIRE)--Aug. 17, 2004--Prime Rate Investors, Inc. (Pink Sheets:PRRM - News) announces that it is funding the Royal Arkansas Hotel and Suites and has been paid closing costs.
PRRM has also retained Windsor Capital, located in New York City, to find a merger candidate in the Northeast U.S. Prime Rate is looking for a "hard money equity" mortgage lender in the Northeast that also lends with a maximum 70% loan to value.
A forward stock split (owners of 10 shares get 1 share extra) has been approved by the board of directors and will be effective September 1, 2004.
Prime Rate typically lends through its subsidiary Tampa Bay Mortgage Solutions, Inc. and lends 70 percent of the value of property at rates of 15 percent per year, plus points. A typical term is 1 to 2 years. The company specialty is acquisition financing, construction loans, and lines of credit for builders and investors. The specialty of the company is "hassle free hard equity loans."
The mission of the company is to build a diverse portfolio of debt and equity instruments that will provide the shareholders with both current income and capital appreciation. The company has a web site http://www.prrm.us.
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Prime Rate Investors Inc. Has Been Paid Closing Points and Has Received Final Funding Request for Hotel, Forward Split Set for September 1st
Monday August 9, 8:01 am ET
CORAL GABLES, Fla.--(BUSINESS WIRE)--Aug. 9, 2004--Prime Rate Investors, Inc. (Pink Sheets:PRRM - News) announces that the company has received final funding request for closing from Royal Arkansas Hotel and Suites and has paid Prime Rate Investors its fees for funding. Closing is set for August 27. The mortgage loan is a draw on the $2,000,000 credit line and is at 18% interest. Richard Astrom, President of Prime Rate Investors, said, "We are excited to make the loan as we consider it to be a prudent and profitable investment." The hotel consists of 200 units and it attached to the Pine Bluff, Arkansas Convention Center. The hotel and Convention Center are across the street from the City of Pine Bluff City Hall. The convention center is owned and operated by the City of Pine Bluff Arkansas. Bob Purvis, director of the Convention Center, said, "We are excited to have new ownership in the hotel as they are experienced hotel operators, and they are bringing new and fresh ideas to the hotel and Convention Center." Prime Rate typically lends through its subsidiary Tampa Bay Mortgage Solutions, Inc. and lends 70 percent of the value of property at rates of 15 percent per year, plus points. Typically term is 1 to 2 years.
Board of Directors has approved a resolution for the forward split of the common stock of the Company by unanimous written consent of the Board of Directors whereby every holder of 10 shares of common stock shall be entitled to an additional one share of capital stock. The effective date of this forward split shall be September 1, 2004. The shares will be mailed directly to the owners of record by Signature Stock Transfer Inc. approximately one week after the September 1st effective date.
The company owns Tampa Bay Mortgage Services, Inc. in Tampa, Florida, which is a direct lender specializing in short term asset based lending. The company specialty is acquisition financing, construction loans, and lines of credit for builders and investors. The mission of the company is to build a diverse portfolio of debt and equity instruments that will provide the shareholders with both current income and capital appreciation. The specialty of the company is "hassle free hard equity loans." The company has a web site: http://www.prrm.us.
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Prime Rate Investors Inc. Announces Hiring of Mergers & Acquisitions Firm to Seek NE Regional Mortgage Company for Acquisition
Monday August 2, 8:02 am ET
CORAL GABLES, Fla.--(BUSINESS WIRE)--Aug. 2, 2004--Prime Rate Investors, Inc. (Pink Sheets:PRRM - News) announces that the company has retained Windsor Capital of 82 Wall Street, Suite 1107, New York, N.Y. to search for a prominent, regional "hard equity" mortgage company located in the Northeast section of the US. Windsor Capital is a merger and acquisition firm specializing in financial services companies in the Northeast. "The company realizes that the time is perfect for growth and expansion in our market as interest rates are rising, which makes our rates more affordable to our borrowers," said Richard Astrom, President of PRRM. Prime Rate lends through its subsidiary Tampa Bay Mortgage Solutions, Inc. lends 70 percent of the value of property at rates of 15 percent per year, plus points. Typically term is 1 to 2 years.
Board of Directors has approved a resolution for the forward split of the common stock of the Company by unanimous written consent of the Board of Directors whereby every holder of 10 shares of common stock shall be entitled to an additional one share of capital stock. The effective date of this forward split shall be September 1, 2004. The shares will be mailed directly to the owners of record by Signature Stock Transfer Inc. approximately one week after the September 1st effective date.
The company owns Tampa Bay Mortgage Services, Inc. in Tampa, Florida which is a direct lender specializing in short term asset based lending. The company specialty is acquisition financing, construction loans, and lines of credit for builders and investors. The mission of the company is to build a diverse portfolio of debt and equity instruments that will provide the shareholders with both current income and capital appreciation. The specialty of the company is "hassle free hard equity loans". The company has a web site: http://www.prrm.us
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Prime Rate Investors Inc-Tampa Bay Mortgage Services, Inc. Announces Placement of an Additional $1,000,000 to Revolving Line of Credit
Wednesday July 7, 8:01 am ET
ST. PETERSBURG, Fla.--(BUSINESS WIRE)--July 7, 2004--Tampa Bay Mortgage Services, Inc, a wholly owned subsidiary of Prime Rate Investors, Inc. (Pink Sheets:PRRM - News) announces that it has increased the line of credit and has provided an additional $1,000,000 to the credit facility of National Hospitality Group, Inc. (Pink Sheets:NHGP - News), now consisting of a $2 million two-year revolving line of credit. The facility will be used for ongoing working capital and expansion. "We are very pleased that Prime Rate Investors Inc. has been impressed with our growth plan and seen fit to extend the line of credit," said National Hospitality Group's President and CEO Edward W. Hayter.
The company also announces that it has a new web site address: http://www.prrm.us.
The company is a direct lender specializing in short term asset based lending. The company specialty is acquisition financing, construction loans, and lines of credit for builders. The mission of the company is to build a diverse portfolio of debt and equity instruments that will provide the shareholders with both current income and capital appreciation. The specialty of the company is "hassle free hard equity loans." The company has a web site http://www.prrm.us
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