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Monday, July 02, 2007 11:44:55 AM
Pacific Financial Lending Signs Largest Client to Date and Commences Collections
Monday July 2, 11:36 am ET
SALT LAKE CITY, July 2, 2007 (PRIME NEWSWIRE) -- Pacific Financial Solutions, Inc. (Other OTC:PFUO.PK - News), a leader in providing cashless ATM kiosks, Point-of-Banking (PBT) terminal technology, Alternative Financial Lending, and Collections Services, announced today the signing of their largest client to date and the commencement of testing on their bad debt portfolio.
Pacific has been increasing both clients and revenues in its Lending division's collections department and with the addition of this largest client to date, a client with over $90,000,000 per year in gross revenues and up to $20,000,000 per year in bad debt and collections, this client will significantly increase revenues for Pacific Financial Lending.
Bruce Grogg, CEO of PFUO commented, ``we have been working on contracting with this client for nearly 6 months, and with the recent upgrades to our systems, the addition of more space and additional personnel, we were finally able to accommodate the special needs that a client of this magnitude requires.' Mr. Grogg went on to say, ``We commenced testing this week and by week's end were already exceeding both the client's and our own expectations in our collections activities.'
With the addition of this new client, PFL's divisional revenues are expected to increase by an estimated $500,000 in 2007. PFUO remains on track to reach its revenue goals for 2007.
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