WESTBURY, NY / ACCESSWIRE / July 26, 2023 / FAVO Capital Inc. (OTC Pink:FAVO)
Following on from the recent news announcement of FAVO Capital, Inc. acquiring the FAVO Group of Companies; A Transaction Valued at $37 Million Dollars, Superb Crew reached out for a follow-up interview with CEO, Vincent Napolitano.
Superb Crew: Thank you for joining us, Mr. Napolitano. To kick things off, could you give us the latest news on FAVO Capital, Inc. in the OTC markets?
Vincent Napolitano: Thanks for having me. In recent times, FAVO Capital has been performing quite well in the OTC markets. We have seen significant investor interest which has been reflected positively in our stock price. We are making strategic moves to ensure that our performance remains stable, even in volatile market situations. Our goal is to continue to grow FAVO and when ready and qualified, seek an uplisting to the NASDAQ Capital Market.
Interviewer: That's encouraging to hear. Could you elaborate on how FAVO Capital assists small businesses with various types of alternative financing?
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Vincent Napolitano: Certainly. At FAVO, we understand the financial challenges many small businesses face, particularly in gaining access to capital. To address this, we provide various types of alternative financing, including merchant cash advances, factoring services, equipment financing, and more. By offering these non-traditional funding options, we give businesses the necessary flexibility to manage cash flow and meet their capital needs.
Interviewer: That's quite a range of services. Could you shed some light on your advisory board? How do they influence FAVO's decision-making process?
Vincent Napolitano: Our advisory board consists of seasoned professionals with a broad range of expertise. They provide invaluable insights, perspective, and counsel to our executive team. Our board members have diverse backgrounds and experience in finance, capital raising, legal, technology, and entrepreneurship. Their collective wisdom helps guide FAVO's strategic direction and ensure we make decisions in the best interests of our clients and shareholders.
Interviewer: It sounds like you have a formidable team guiding FAVO. Now, what are your expectations for the next 12 to 24 months?
Vincent Napolitano: Looking ahead, we are optimistic. Our strategy revolves around growth and enhancing value for our investors and clients. We aim to expand our portfolio of clients by focusing on key sectors that have demonstrated resilience and potential for growth. As we explore potential mergers and acquisitions in the ecosystem, we do have a plan in place to continue our organic growth.
Interviewer: Getting back to your core business, can you briefly explain how you differentiate from other alternative funders?
Napolitano: We distinguish ourselves through our commitment to customer service, speedy process, and tailored solutions. We understand every business is unique, so we take the time to understand our clients' needs, their sales cycle, and their capacity to repay. This personalized approach ensures that we provide our merchants with the liquidity they need that supports their business growth and sustainability.
Interviewer: That sounds like a thorough approach. Can you tell us a bit about the application process with Favo Capital?
Napolitano: We have streamlined our application process to be as straightforward and fast as possible. Business owners need to fill out a short online application which includes use of funds. We ask them to submit three to six months of their most recent business bank statements and credit card processing statements if applicable. We also do a thorough review of their financial statements, accounts receivable and payable reports. We will run a soft credit pull on the principals of the business and the business itself. We will also do background checks and search for any potential open litigations, as well as review all web and social media presence. Our underwriters will review the file to evaluate the business's performance and to estimate future sales. Prior to any funding our underwriters will do a merchant interview and if it moves to closing we will also call the merchant on a recorded line to review all the terms and conditions in the contract. While the process is extensive and thorough, we move quickly and efficiently. The entire process from application to funding can often be completed in as little as 24 hours or less.
Interviewer: Wow! A very efficient process. Which leads me to my next question. What are the advantages of working with FAVO compared to traditional banks?
Napolitano: Traditional bank loans often come with a lengthy application process, strict credit requirements, personal guarantees and it can take months to get approved and most small business get turned away after months of red tape. At FAVO we move fast and have a much quicker approval process, more flexible repayment terms, and the approval is based more on a business's current and future sales versus the owner's collateral. We offer a level of flexibility that traditional bank loans do not offer.
Interviewer: That's insightful, thank you. Finally, where do you see the alternative lending space and Favo Capital specifically heading in the next five years?
Napolitano: I believe that as more businesses become aware of alternative financing options the industry will continue to grow. As for Favo Capital, we plan to continue leveraging our people and technology to streamline our application and approval processes further and diversify our financial product offerings to meet the evolving needs of businesses.
Interviewer: How do you see regulation impacting the alternative funding sector?
Napolitano: We are seeing increased regulation every day, especially on the state level and we welcome it with open arms. FAVO is 100% dedicated to the highest standards of corporate governance, legal compliance, and ethics. Our corporate culture is to always be transparent, honest, and fair with our employees, investors, shareholders, partners, small business owners, and the Independent Sales Organizations (ISO) we work with.
Interviewer: Vincent, it has been a pleasure speaking with you today. Thanks for the insight into Favo Capital and the industry.
Napolitano: Thank you for having me. I am always happy to share about our work at Favo Capital.
More About FAVO Capital Inc.:
FAVO CAPITAL is a Direct Funding Company, which provides customized, short-term funding to small and mid-sized businesses nationwide. FAVO Realty is a Real Estate Investment Company which invests in a diversified portfolio of quality commercial real estate properties throughout the United States. "FAVO" is "Honeycomb" in Latin - The Honeycomb (Hexagon) is the most efficient shape in the universe. FAVO Capital Inc. intends to be Efficient, Flexible & Durable.
CONTACT:
Email: info@favocapital.com
Tel: 833.328.6477
Safe Harbor/Forward-Looking Statements
This press release contains certain forward-looking statements including, but not limited to, statements, estimates, and projections of future trends and of the anticipated future performance constitute "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, as amended, including, without limitation, statements regarding the Series' expectations, beliefs, or future strategies that are signified by the words "expects," "anticipates," "intends," "believes," or similar language. These forward-looking statements concern the Company's operations, economic performance and financial condition and are based largely on the Company's beliefs and expectations. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Actual results may differ materially from expected results. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of this press release FAVO Capital, Inc and its Management Team expressly disclaims any obligation to update any such forward-looking statements in this document to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements, unless specifically required by law or regulation.
SOURCE: FAVO Capital, Inc.
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