News Column


July 2, 2014

Item 8.01 Other Events

Revolutionary Concepts Signs Agreement with Company for $10 Million Credit Facility

Revolutionary Concepts Inc., wholly owned subsidiary Greenwood Finance Group has signed an Agreement with a funding company for a $10 million revolving line of credit for capital funding. TheAgreement allows Greenwood to partner in business with an experienced company in the financing services and investment banking industry.

The terms of the Agreement includes among other things;

(a) the facility is a senior term loan credit facility

(b) the credit facility has an initial two year term

(c) the Agreement has other financial covenants and conditions which are consistent with industry standards

The proceeds for the credit facility are intended to be used for working capital, investments, acquisition of distressed financial assets, and to provide short-term financing to small and mid-cap companies. The capital funding will provide Greenwood with the ability to purchase and acquire alternative undervalued financial assets of other companies to grow the size its expanding portfolio.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Edgar Glimpses

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