FGFC - First Guardian Financial Corporation Announces the Creation of a High Yield Joint Venture Investment Fund
NEW YORK, Mar 30, 2006 (BUSINESS WIRE) -- First Guardian Financial Corporation (Pink Sheets:FGFC) announced today that the Board of Directors has approved the creation of a high yield joint venture investment fund that will operate as a majority owned subsidiary (yet to be named).
The company will administer the fund with the intention of generating higher than average yields for a group of private investors that will contribute a combined 50 million dollars. The company will invest at its discretion said funds in such ventures i.e. short term private commercial real estate loans, secured short term business loans, turn around asset secured loans and other short term secured high yield investments.
The company expects a minimum return of ten percent net for its expertise and administrative efforts with potential of net revenues to the company of five million dollars on average, while continuing to create additional ventures of equal potential.
"I am pleased that the Board of Directors has authorized these actions as it will accelerate the growth and position of the company within the financial community, with this new direction the company will accelerate and increase its return on investment within the financial community ahead of schedule resulting in a higher cash flow with limited company investments. The company will rely on its agreement with The Cosmos Group to provide a qualified source of potential Investment opportunities for First Guardian Financial Corporation, while we aggressively seek new investment opportunities that will yield above average returns," said Abraham Rosenman, President First Guardian Financial Corporation.
About First Guardian Financial Corporation:
The company is an Investment Company & Commercial Real Estate Finance Company serving the small to mid sized market. Its primary goal is to provide products and services within the commercial real estate finance, and to invest or participate/joint venture in start up or existing projects throughout the United States.
SOURCE: First Guardian Financial Corporation
CONTACT: First Guardian Financial Corporation Investor Relations, 212-572-4823 Fax: 212-572-6499 ir@guardianfinancialcorp.com www.guardianfinancialcorp.com
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