Well Pink, lets see what you got Actrade releases 12 month TAD
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Monday March 9, 8:02 am Eastern Time
Company Press Release
SOURCE: Actrade Capital Inc.
Actrade Announces 12-Month TAD
NEW YORK, March 9 /PRNewswire/ -- ACTRADE CAPITAL INC., a subsidiary of Actrade International Ltd. (Nasdaq: ACRT - news) announced today the introduction of a new 12-month TAD Program designed primarily to complement traditional leasing programs for equipment purchases. Unlike Actrade's traditional TAD Program which only permits installment payments of up to 6 months, the new 12-month Program allows between 7 and 12 monthly installment payments in connection with the purchase of specific equipment. This new Program has been designed specifically for companies looking to purchase equipment where traditional leasing terms are not suitable. Under the 12-month Program Actrade may also secure a first lien position on the equipment being purchased as an additional safeguard.
Alex Stonkus, Actrade's COO/CFO commented, ''We have been developing this new 12-month Program for several months and believe that it will open an entirely new niche market for Actrade. In large measure, this new Program was developed in response to the needs of current TAD Program participants who have expressed a serious interest in a 12-month Program. While traditional equipment leasing programs are for 12 months or longer, our new Program offers sellers a variety of creative and tailored financing solutions for 12 months or less.''
In connection with this new Program, management also announced that it secured a special credit protection policy from a major carrier expressly for the 12-month Program. Currently Actrade is reviewing its overall credit protection practices. Mr. Stonkus stated, ''Actrade now provides credit protection for its TAD Program through master policies with three major insurance carriers, as well as acting as a self-insurer in certain cases. The different applications being developed for the TAD Program, such as the new 12-month Program, and the continued growth we are experiencing have created a need for additional and varied types of credit policies.''
ACTRADE's financial reports may be accessed through the Internet via the World Wide Web at acrt.com.
Except for historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties which are described in the company's SEC reports, including the 10-K for the period ended June 30, 1997, and subsequent 10-Q's for the periods ending September 30, 1997 and December 31, 1997.
SOURCE: Actrade Capital Inc.
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