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 Overview Credentrust Story Customers Partners Management Board of Directors News Careers |
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FOR IMMEDIATE RELEASE - Aug. 24, 2000
Aug. 24, 2000 - Irvine, California - Oinke, Inc., the preeminent provider of Internet-based commercial finance solutions, and FSBO International Group, Inc. (FSBO) have announced a partnership which provides financing to buyers of hotels, motels, restaurants, and pubs through FSBO's two web sites, Hotels-FSBO.com and Restaurants-FSBO.com. With the addition of Oinke's commercial finance center "Powered by Oinke," FSBO's customers now have access to commercial real estate loans, business loans, and equipment leasing from Oinke's network of 150 lenders.
With the "Powered by Oinke" commercial finance center, FSBO's customers put their financing up for auction. Lenders whose criteria match those of the loan request then bid on the borrower's application. Oinke guarantees that a minimum of ten lenders will view the application, and that a minimum of three lenders will submit bids.
"FSBO International has become another top company to recognize the value in offering Oinke's commercial finance solution to its customers," said Thomas Markel, chairman and CEO of Oinke, Inc. "Businesses seeking financing for expansion, restructuring capital, acquisitions, and commercial real estate loans can use FSBO's new commercial finance centers to source financing in a dynamic marketplace with hundreds of lenders competing with the best rates and terms. We are thrilled to form this new alliance with FSBO International."
"Our partnership with Oinke enables us to offer our buyers and sellers with a valuable financing service while adding value to our company and our brand," said Martin Spicknell, FSBO's chairman and CEO. "We give business owners who want to sell their businesses the power of the Internet to attract potential buyers, and we can now give them access to a range of financial instruments that will enable them to complete the deal."
About Oinke, Inc.
Oinke provides the only Internet trading exchange connecting business and commercial real estate borrowers with qualified lenders in a secure auction environment. Oinke's standardized online Automated Summary Application Package (ASAP) forms simplify the borrowing process for 63 different loan types, dramatically reducing typical loan paperwork and facilitating negotiations with a worldwide pool of more than 150 lenders, including Wall Street firms, insurance companies and finance companies. Oinke specializes in equipment leases and business and commercial real estate loans ranging from $100,000 to $500 million.
About FSBO International Group, Inc.
FSBO intends to reinvent the business transfer industry through a series of unique specific web sites that connect buyers and sellers of businesses. The runaway success of our flagship site www.restaurants-fsbo.com has provided a template for future expansion. The second site, www.hotels-fsbo.com, is already online, attracting rave reviews from the lodging industry. A further 15 sites are currently in the pipeline, each dealing with a specific market sector, and providing buyers and sellers with the unique, knowledgeable personal service that has become FSBO's hallmark.
Contacts:
FSBO International Group, Inc. |
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