This is a flexible solution to the most pressing financial problem of our time – access to capital.
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New York, NY (PRWEB) September 16, 2010
Midtown Capital Group LLC today announced the formal launch of a powerful new program that offers financing against a broad range of securities with no transfer of title, SIPC-insured accounts, and a powerful suite of client-friendly features that are expected to be particularly attractive to those who have had difficulty obtaining funds in today’s more restrictive financial environment.
The Midtown service comes in the form of an easy-qualifying line of credit managed through one of several major national brokerage houses and offers unprecedented cash advance rates – up to 95% – plus interest rates as low as 1.6%. Fully licensed account managers, online access, and personalized attention are standard. Most important, said Midtown Capital president David Borish, “This is a flexible solution to the most pressing financial problem of our time – access to capital.” Companies and individuals who just a decade ago could rely entirely on their good credit to obtain the cash they required can no longer do so. “With our financing,” said Borish, “clients not only get all of the funds they need, they also get it fast.” Since the collateral securities portfolio is the focus of loan eligibility, credit is not a factor, allowing the process to move very quickly.
The Midtown program is expected to be especially attractive to those businesses and individuals who have been turned down by financial institutions or have received loan offers too restrictive or inadequate to meet their needs. “Our approach is solution-oriented” said Borish. “Our aim is to have all of the financing our clients need in their pockets within no more than seven days.”
Access to capital, according to an August, 2010 report in Business Week, continues to be the top concern of American small-to-mid-sized companies, real estate professionals, and individual investors. Tougher eligibility requirements and use restrictions have also risen, leaving many companies and individuals unable to obtain the capital they desperately need to grow or invest, despite the economy’s improved outlook overall. “Our securities loan program was built from the ground up expressly for cases like these,” said Borish.
The program does not require the sale of the collateral so the shares remain in the borrower’s title at all times. Prepayment is without penalty and the interest-only payments are based on low monthly LIBOR rates. No principal payments are ever required, allowing borrowers to tap their securities’ current value now, repay what they wish, then re-tap the credit line later all while continuing to participate in the market. The Midtown program allows clients to continue to trade in their accounts (with some restrictions) and any upside growth in the collateral portfolio is fully credited to the borrower.
For media inquiries or to request a portfolio loan solution analysis:
Contact: Mark Stevens, Director
Tel: (646) 378-2196
Fax: (877) 208.4683
Midtown Capital Group is a provider of institutionally managed securities-based lending services with offices at 5 Penn Plaza, 23rd Floor, New York, NY 10001.
Neither Midtown Capital Group LLC nor its staff, partners, or associates offer any form of securities buy-sell advice, tax advice, or investment advice. Please consult with a licensed professional in your state of jurisdiction for guidance on any of these matters.
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