Business
Full Alliance Group, Inc. to Acquire Custom Hard Money Lender GBE Grupo Empresarial de Tamaulipas SAPI de CV
Full Alliance Group, Inc. to Acquire Custom Hard Money Lender GBE Grupo Empresarial de Tamaulipas SAPI de CV.
About this update from Full Alliance Group, Inc.
[{"type":"text","content":"LOS ANGELES, CA / ACCESSWIRE / May 1, 2018 / Full Alliance Group, Inc. (OTC PINK: FAGI) (\"Full Alliance Group\" or the \"Company\"), a holding company, is pleased to announce that it has entered into a contract to acquire GBE Grupo Empresarial de Tamaulipas SAPI de CV (\"GBE\"), a Mexico-based, nationally licensed hard money lender.FAGI's interest in the acquisition of GBE comes from the fact GBE holds a \"Mexican Federal banking license.'' This active license can allow GBE to provide funding to individuals or businesses. With a potential client list including many small to large-size companies seeking funding alternatives, in an environment where traditional banks in Mexico can typically charge interest rates up to 60%, this acquisition can be very lucrative for Full Alliance Group and its shareholders.The acquisition of GBE with their currently held and active, \"Federal Banking License\" can not only provide funding for Full Alliance Group and its subsidiaries to further accelerate their growth through expansion and new business developments, but it allows the opportunity for brick and mortar banking branches to be opened throughout Latin America.The Full Alliance Group's board of directors believes this can position GBE to grow significantly within the Mexican financial services and FinTech market, take advantage of potentially lucrative projects by leveraging international opportunities in Mexico, and benefit from synergies with other Full Alliance Group companies.(FinTech is the new technology and innovation that aims to compete with traditional financial methods in the delivery of financial services. The use of smartphones for mobile banking, investing services and cryptocurrency are examples of \"Fintech\")This acquisition is subject to customary conditions such as satisfactory completion of due diligence and regulatory approvals.Full Alliance Group anticipates making several further announcements regarding the GBE acquisition as the due diligence process moves forward.Sincerely,Jacob ThomasChairman / CEOContact: [email protected] Full Alliance Group Inc.Full Alliance Group Inc. (OTC PINK: FAGI) is a multi-faceted holding company with varied interests in banking and point-of-sale (POS) technology, financial services, real estate, nutraceuticals and computer software development. Full Alliance Group...