Business
Capital Financial Global Completes Merger With Affiliated Funding Corporation, Invoice Factoring and Commercial Finance Business
Capital Financial Global Completes Merger With Affiliated Funding Corporation, Invoice Factoring and Commercial Finance Business.
About this update from Capital Financial Global, Inc.
[{"type":"text","content":"\nSALT LAKE CITY, March 22, 2019 (GLOBE NEWSWIRE) -- Capital Financial Global, Inc. (OTC Pink: CFGX), announced today that it has successfully completed a merger with Affiliated Funding Corporation (“AFC”), an invoice factoring and commercial finance business.\n The result of the transaction is that AFC has merged with and into CFGX, and CFGX is now the surviving entity. “We thank the guys from Affiliated for working so fast to get this done and we welcome them to our team,” said Paul Edward Norat, CEO of Capital Financial Global. “As I’ve pointed out before, this merger is a huge development for us because it comes with an existing credit facility to fund loans with, software and infrastructure to handle growth, and two seasoned professionals to join us.” “We love the synergy that will result from our merger and feel like we just started something big,” said Ronald N. Hyatt, former CEO of Affiliated Funding Corporation. “Now it’s time to roll up our shirt-sleeves and get to work.” The merger consideration was composed of a combination of restricted preferred stock and new debt. The Company does not have any plans for a reverse-split in connection with the merger. It is anticipated that commercial finance, including invoice factoring, will form an informal business segment that will supplement CFGX’s existing real estate and life settlement backed funding pursuits. The Company plans to release an updated plan of operations in the weeks to come. Disclosures can be found on the Company’s website and its online disclosure portal at: https://www.capfiglobal.com/ https://www.otcmarkets.com/stock/CFGX/disclosure About Capital Financial Global, Inc. Capital Financial Global, Inc. (CFGX) is a specialty finance company that offers asset-backed financing and loan advisory services. Our Market Positioning & Differentiation Unlike traditional banking models, CFGX offers organizations needed liquidity by using an asset-backed approach rather than a traditional credit approach to originating new loans, buying and selling existing loans, and converting distressed collateral into cash or trade-able form. Our Revenue Model We seek revenue from loan fees, interest rate spreads on loans and investments we hold, and margins on loans and investments we sell in wh...