Heritage Capital Credit Corporation in Discussions with 5 of 26 Business Clients
Wilmington, DE, Jul 30, 2007 (WORLD STOCK WIRE via COMTEX) -- Heritage Capital Credit Corporation (OTC: HCPC) announced that it is engaged in discussions to refund loan application fees paid by 5 of their 26 Business Clients, in 2004 and 2005, totaling $93,386. The 5 Business Clients have expressed dissatisfaction over the length of time that the Company has taken to consummate their respective financings.
Chairman and CEO, Gwendolyn Johnson stated: “We value our business customers and appreciate their patience over the past three years. Yet, we respect their needs to seek other sources for their business plans for funding in this current credit climate.”
Although the credit markets are getting tighter, the Company believes that by the end of the third quarter of 2007, it should be able to clarify the credit markets' understanding of risk related to the BCLOC Promissory Notes, which are secured by direct pay insurance contracts
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies, can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the factors previously listed, as well as other factors beyond the control of the company, which include the ability of the company to implement its business plans and consummate the proposed acquisition, actual results may differ materially from the expectations expressed in the forward-looking statements.
