Mobile Star Corp. (MBSTD.QB) Announces That Management Has Identified and Co-Underwritten Commercial Loan Opportunity and Sub...
24 March 2012 - 1:32AM
Marketwired
MOBILE STAR CORP. (OTCQB: MBSTD) (PINKSHEETS: MBSTD) is pleased to
announce that management has identified and underwritten with the
ACG Company a commercial loan opportunity and submitted a request
for funding approval to MBST Board of Directors.
"The loan is a participation in a commercial real estate note,
secured with senior first mortgage deed of trust on subject
property, with a Loan to Value ratio of 44% based on its income
approach commercial appraisal." Mr. George Ivakhnik, CEO, further
added, "This loan is a refinance and is personally guaranteed by
borrowers and corporations operating from its subject real estate
facility. It has also been underwritten and guaranteed by the SBA
for up to 85%."
The Tuesday, March 27th, 2012 shareholder's call will to discuss
the Company's progress and future real estate loan
opportunities.
The shareholder calls are scheduled for every Tuesday at 4:05PM
EDT and are open to all Mobile Star shareholders by dialing 1 (559)
726-1300. The participant code is 662-692.
About Mobile Star Corp. (MBSTD.QB) Mobile
Star Corp.www.mobilestarcapital.com was incorporated in Delaware on
December 25th, 2007 and is an evolving company. Most recently,
George Ivakhnik, the new company's CEO has initiated board-approved
additional business focuses to existing course of business,
including acquisition and financing of companies in socially
responsible sectors of U.S. economy with "disruptive" products and
strong management teams.
About ACG Company Acer Capital Group
("ACG") www.acgcompanies.com is a global holding company of Private
Equity, foreign and domestic Funds in the business of deploying
capital. In 2008, ACG enter into the SBA-504 space knowing that
government induced lending platforms was going to be in demand.
After 4 years and over 200 transactions in the space, ACG's SBA
platform has become a premier national lender in this space.
About Small Business Administration CDC 504
Loan Program The SBA 504 Loan program
www.sba.gov/content/cdc504-loan-program is a powerful economic
development loan program. As of February 15, 2012, the $50 Billion
in 504 loans has created over 2 million jobs. This program is a
proven success and win-win-win for the small business, the
community and participating lenders. 504 Loans are typically
structured with SBA providing 40% of the total project costs, a
participating lender covering up to 50% of the total project costs,
and the borrower contributing 10% of the project costs. Under
certain circumstances, a borrower may be required to contribute up
to 20% of the total project costs.
Forward-Looking Statements: A number of
statements contained in this press release are forward-looking
statements that are made pursuant to the safe harbor provisions of
the Private Securities Litigation Act of 1995. These
forward-looking statements involve a number of risks and
uncertainties, including timely development, and market acceptance
of products and technologies, competitive market conditions,
successful integration of acquisitions and the ability to secure
additional sources of financing. When used in this document, words
such as "could," "plan," "estimate," "expect," "intend," "may,"
"potential," "should," and similar expressions are forward-looking
statements.
Contact Mobile Star Corp. Real Estate Division 1(646)
512-5809
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