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Microcap & Penny Stocks : SONM – Sonoma Financial Corporation (was VMAX)
SONM 5.735+9.2%Nov 28 9:30 AM EST
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To: MonteChristo who wrote ()7/21/1999 3:17:00 PM
From: MonteChristo   of 205
 
Sonoma Financial Corporation Receives $1 Million Line of Credit From Brickyard Bank For Expansion

CHICAGO--(BUSINESS WIRE)--July 1, 1999--Sonoma Financial Corporation (OTCBB: VMAX - news) announced today that it had arranged for a $1 million line of credit from Brickyard Bank of Lincolnwood, Illinois. Sonoma Financial has guaranteed the line of credit, which is being used for working capital and expansion.

The Brickyard agreement will replace Sonoma's current line of credit with Grand National Bank of Cary, Illinois. ''We are extremely excited with the increased line of credit from Brickyard,'' said Terrence Donati, President of Sonoma. ''This agreement will immediately increase on our loan capacity and expansion program. Same store sales growth is phenomenal and we have implemented a very aggressive new expansion strategy. We have a number of new sites constructed and ready to come online and more are being planned.''

Sonoma Financial Corporation is a financial services company that owns and operates a chain of stores devoted to providing low documentation, short-term consumer loans. The company intends to become the national leader in the ''Payday Loan'' market by strategically opening new stores, penetrating new markets and by chain acquisition. Sonoma Financial is currently the only publicly traded 'pay day advance' company. Ace (NASDAQ:AACE - news), has proven the viability of the concept in other markets, but is not specifically focused in this area.
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