Prime Rate Investors Inc. (fka PRRM)

[PINKIE 144]

PRRM news out! (BSNS WIRE) Prime Rate Investors Inc -PRRM- Hurricane Disaster Loan Program I
itiated; Applications Being Reviewed
Prime Rate Investors Inc -PRRM- Hurricane Disaster Loan Program Initiated; Appli
ations Being Reviewed


Business Editors

CORAL GABLES, Fla.--(BUSINESS WIRE)--PRRM--
Prime Rate Investors, Inc. (Pink Sheets:PRRM) announces
that it has initiated a Hurricane disaster loan-mortgage program for
business owners whose businesses have been interrupted by Hurricane
Frances. Hurricane Frances is said to be the largest hurricane to ever
hit the State of Florida. Tampa Bay Mortgage Solutions Inc, a wholly
owned subsidiary of Prime Rate, is based in Tampa, Florida. After the
storm passes the company will look for businesses and companies that
need quick, "Hassle free equity loans". Richard Astrom, President of
Prime Rate said: "The plan is to give financing to bridge the gap
between the disaster and the insurance funding, or to fund the
underinsured business." Applications are being processed by fax at
305 666 3994.
Recently the company has: funded the Royal Arkansas Hotel and
Suites; retained Windsor Capital, located in New York City, to find a
merger candidate in the Northeast U.S.; funded a $200,000 Mortgage in
Stowe, Vt.; The company is in discussions to acquire a mortgage
company in the Stowe-Burlington, Vt. area.
A forward stock split (owners of 10 shares get 1 share extra) has
been approved by the board of directors and was effective September 1,
2004 and the stock issuances are being processed by the transfer
agent.
Prime Rate typically lends thru its subsidiary Tampa Bay Mortgage
Solutions, Inc. and lends 70 percent of the value of property at rates
of 15 percent per year, plus points. Typically term is 1 to 2 years.
The company specialty is acquisition financing, construction loans,
and lines of credit for builders and investors. The specialty of the
company is "hassle free hard equity loans".
The mission of the company is to build a diverse portfolio of debt
and equity instruments that will provide the shareholders with both
current income and capital appreciation The company has a web site
http://www.prrm.us
This release includes forward-looking statements made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995 that involve risks and uncertainties including, but not
limited to, the impact of competitive products, the ability to meet
customer demand, the ability to manage growth, acquisitions of
technology, equipment, or human resources, the effect of economic and
business conditions, and the ability to attract and retain skilled
personnel. The Company is not obligated to revise or update any
forward-looking statements in order to reflect events or circumstances
that may arise after the date of this release.



KEYWORD: FLORIDA
INDUSTRY KEYWORD: BUILDING/CONSTRUCTION REAL ESTATE BANKING BANKING PRODUCT
SOURCE: Prime Rate Investors, Inc.


CONTACT INFORMATION:
Prime Rate Investors, Inc., Coral Gables
Richard Astrom, 786-236-6434
Fax: [phone]
http://www.prrm.us
[e-mail]

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