WESTBURY, NY / ACCESSWIRE / June 1, 2023 / FAVO Capital Inc. (OTC Pink:FAVO)
Key Highlights from The FAVO Group of Companies:
- Exponential year on year revenue growth since entering the alternative finance business in Q4 of 2020.
- Revenues 2020 - $122,000
- Revenues 2021 - $10.6 million
- Revenues 2022 - $17.5 million
- Participated in over 12,300 business fundings across multiple states and industries.
- Participated in the Syndication of approximately $840 million worth of capital to small and medium size businesses across the United States, which equates to a total Right to Receive (RTR) of over $1.1 billion of which the company represents 10% of the portfolio.
- Directly Funded $24.1 million in capital through our direct sales organization.
- Raised over $22.8 million in Long-Term Debt.
- Benefited from a further $3.5 million in additional capital through existing and new syndication partners.
- Developed best in class in-house underwriting protocols and guidelines which are tailored to each individual merchant's specific needs.
- Implemented industry leading software and service providers to facilitate the growth of our direct funding operations.
- Partnered with key funders in the industry to secure deal flow and spread portfolio risk.
FAVO Capital is pleased to announce the acquisition of all entities comprising of the FAVO Group of Companies. Over the past two and half years the FAVO Group of Companies have built a multi-faceted business providing working capital to small and medium size businesses across the United States.
FAVO Group of Companies have been key strategic partners with multiple industry leaders over the past two and a half years. This acquisition allows FAVO Capital to take the lead funding role and benefit from the foundation built by the FAVO Group of Companies.
Vincent Napolitano, CEO, stated, 'I am pleased to confirm that we have reached an agreement and the transaction has been executed. This is an historic day for FAVO Capital. This merger will provide the platform for our continued growth and steps to becoming a top tier funder in our space.' He added, 'FAVO Capital intends on expanding operations and adding new and exciting products to our platform.'
With this acquisition FAVO Capital will have the necessary resources, expertise, and relationships to expand on its current portfolio and product lines. FAVO Capital will now be able to provide small to medium-sized businesses with end-to-end financial solutions.
Shaun Quin, President, stated, 'We are thrilled to announce our partnership with Stewards Investment Capital Limited. The level of skill and expertise this brings to the organization will provide value for our entire ecosystem and our future growth strategies.' He added, 'We plan on investing in our employees, bringing value to our investors and shareholders and dealing ethically with our merchants to help them grow and thrive in any economic environment.'
Stewards Investment Capital ('SIC') is part of the Stewards affiliation of financial services companies, which has been established for two decades. SIC specializes in providing investment management services to high-net-worth individuals and institutional investors across various asset classes. Holding a Global Business License and an Investment Adviser (Unrestricted) License from the Mauritius Financial Services Commission, SIC is committed to driving and nurturing successful investment portfolios. Strategically located in Mauritius International Financial Centre (IFC), SIC's philosophy, centers around preserving and enhancing assets, while mitigating risks.
Glen Steward, Chairman of Stewards Investment Capital Limited, stated, 'This strategic partnership marks a milestone for us as a company, along with our partners and associates. This transaction gives our network access to true global alternative investment opportunities in a fully regulated environment, creating the conduit for emerging market investors to gain access to developed world assets.'
Bilal Adam, CEO of Stewards Investment Capital, stated, 'We are impressed by the incredible growth trajectory FAVO has achieved to date. Tightened liquidity in big banks present a massive opportunity for FAVO Capital by supporting the smaller business sector. The timing of this transaction is strategically opportune for Stewards as we assist our institutional clients to diversify their emerging market portfolios into currency hedged USD income strategies'.
FAVO Capital Inc. will continue to have two divisions - Lending and Commercial Real Estate (CRE). Lending will fall under the FAVO Capital brand and CRE will be under the FAVO Realty brand. Both divisions will focus on adding long-term value to the brand, shareholders, investors, and partners.
More About FAVO Capital Inc.:
FAVO CAPITAL is a Direct Funding Company, which provides customized, short-term funding to small and mid-sized businesses nationwide. FAVO Realty is a Real Estate Investment Company which invests in a diversified portfolio of quality commercial real estate properties throughout the United States. 'FAVO' is 'Honeycomb' in Latin - The Honeycomb (Hexagon) is the most efficient shape in the universe. FAVO Capital Inc. intends to be Efficient, Flexible & Durable. www.favocap.com
More About Stewards Investment Capital ('SIC'):
More About Favo Group of Companies:
A fully integrated group of companies that provide short-term alternative financing to small and mid-sized businesses nationwide. FAVO Group's Management Team has over 100 years of collected business and finance experience with offices in Westbury, NY and Hollywood, FL.
Safe Harbor/Forward-Looking Statements
This press release contains certain forward-looking statements including, but not limited to, statements, estimates, and projections of future trends and of the anticipated future performance constitute 'forward-looking statements' within the meaning of section 27A of the Securities Act of 1933, as amended, including, without limitation, statements regarding the Series' expectations, beliefs, or future strategies that are signified by the words 'expects,' 'anticipates,' 'intends,' 'believes,' or similar language. These forward-looking statements concern the Company's operations, economic performance and financial condition and are based largely on the Company's beliefs and expectations. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Actual results may differ materially from expected results. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of this press release FAVO Capital, Inc and its Management Team expressly disclaims any obligation to update any such forward-looking statements in this document to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements, unless specifically required by law or regulation.
SOURCE: FAVO Capital, Inc.
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