Sonoma Launches Franchise Program
CHICAGO--(BUSINESS WIRE)--Feb. 23, 2001--Sonoma Financial Corporation/SHC Corp. (OTCBB:SONM) one of the largest payday advance operations in the greater Chicago announces today that it's wholly-owned subsidiary, Money Market Payday Express Franchising, Inc., has received approval from the State of Illinois to begin selling payday loan franchises in Illinois. Franchise sales efforts are expected to commence immediately in Illinois. Followed by Wisconsin, Michigan, Indiana and Arkansas pending franchise approval.
"We believe that the payday loan business lends itself extremely well to franchising opportunities because of the relative ease of operations and low costs" stated Terrence L. Donati, President of Sonoma. "We also believe that Sonoma is extraordinarily well positioned to take advantage of these opportunities because of our knowledge of the industry and our ability to deliver comprehensive service and support to our franchisees," Mr. Donati continued. Mr. Donati has over 12 years of franchise sales experience.
The program calls for franchisees to purchase franchise rights to own and operate payday lending stores, and would include a fully array of services from the Company, from site consulting to operational support and technology.
In addition to access to the Company's industry know-how, franchisees would also have the option to purchase collection services at a discounted rate from E-Star Systems, Inc., another wholly-owned subsidiary of the Company. Mr. Donati notes: "Access to E-Star's collection expertise at lower than market costs is a great example of how franchisees can maximize the value of their stores through an affiliation with Sonoma."
Persons interested in obtaining a full franchise information package can contact Mr. Donati at the Company at (847)562-0041 X 18.
A complete investor package for Sonoma Financial is available at e-relations.com.
About Sonoma Financial Corporation:
Sonoma Financial Corporation operates three subsidiaries, two of which focus on consumer lending and one is a collection agency. Payday Check Advance, Inc. and Money Market, Inc. are financial service companies that operate a chain of stores devoted to providing low documentation, short-term consumer loans. Sonoma intends to become the national leader in the "Payday Loan" market by strategic acquisition and penetrating new markets. E-Star Systems, Inc., is an industry specific collection service addressing the needs of the short-term loan industry. Sonoma Financial is currently the only publicly traded company with a sole focus on `payday advances'. Ace (NASDAQ:AACE), First Cash Financial Services (NASDAQ: FCFS) and Pinnacle Business Management (OTCBB: PCBM), have proven the viability of the concept in other markets, but are not specifically focused in this area. American Nortel Communications (OTCBB: ARTM) a shareholder.
Safe Harbor Disclaimer:
This release may contain certain forward-looking statements regarding the Company's expected performance for future periods, and actual results for such periods may materially differ. Such forward-looking statements involve certain risks and uncertainties, including but not limited to risks of changing market conditions in the overall economy and the industry, consumer demand, additional financing requirements, the opening of new stores, the success of the Company's acquisition strategy and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission.
CONTACT:Sonoma Financial Corporation/Victormaxx Technologies, Inc.
Mr. Terrence L. Donati, 847/562-0041 |
