Mr. Santhosh Kumar reports
ADVANTEX SECURES FINANCING TO SUPPORT UP TO $20 MILLION IN SMALL BUSINESS FINANCING
Advantex Marketing International Inc.'s wholly owned subsidiary, Advantex Dining Corp., has finalized a financing arrangement with a new funder.
This financing will enable Advantex Dining to originate up to $20-million in small business financing, with potential for future growth. Under the terms of the proposed agreement, Advantex Dining will originate the small business advances and sell the rights to these receivables to the funder pursuant to a receivables purchase agreement.
Advantex Dining will act as the servicer of the advances and will earn a servicing fee along with an opportunity to share in the revenue generated from the advances based on its performance.
This strategic initiative represents a significant opportunity to expand Advantex's small business financing capabilities and enhance long-term revenue potential.
About Advantex Marketing International Inc.
Advantex provides working capital to merchants. Advantex also provides specialized marketing programs that enable members of Aeroplan to earn Aeroplan points at participating merchants.
Advantex shares trade on the Canadian Securities Exchange under the symbol ADX.
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