USIS....Unistar Finc. Services mentioned:
Press Release
Pinnacle Business Management Reaches Services Agreement With Unistar Financial Services
PCBM to Provide Back-End Services for 40 Unistar Centers
CLEARWATER, Fla.--(BUSINESS WIRE)--Sept. 19, 2000--Pinnacle Business Management (OTCBB: PCBM - news) has announced that it has finalized a service agreement with Unistar Financial Services, a Florida-based payday lender.
Under terms of the agreement, PCBM will provide verification and transaction services to Unistar's 40 brick-and-mortar locations in the state of Florida. Unistar will pay PCBM a fee per transaction.
According to PCBM president Bruce Hall, Unistar was attracted to PCBM because of its technologically advanced proprietary computer systems for processing payday advances.
``We will essentially be providing all of the mechanics of the payday advances for Unistar,'' said Hall. ``The only thing we won't be providing is the funding itself.''
Hall added that the announcement does not in any way indicate a departure from the company's previously planned nation-wide expansion of its Fast PayCheck Advance centers. Rather, this is another facet of PCBM's existing services.
The agreement is expected to generate approximately $400,000 in revenues to PCBM annually, Hall said.
About Pinnacle Business Management
Pinnacle Business Management (OTCBB: PCBM - news) commenced operations in 1996 in Florida. The company operates Fast PayCheck Advance, a firm that offers instrument-for-instrument pay check advance transactions. Fast PayCheck Advance is licensed to operate in nine states and expects to complete a major expansion by the end of this year. For more information log onto www.pcbm.com or call 877/877-9307.
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from the forecasted results. These risks and uncertainties, include, among other things, product price volatility, product demand, market competition, risk inherent in the company's domestic and international operations, imprecision in estimating product reserves and the company's ability to replace and expand its holdings. |
