Filed Under: [ Business ] [ Press Releases ] [ Blogante Business ]
Tags: money transfer
HispanicTips has 43,151 stories & 115,000+ visitors a month..
Frontera Investment, Inc., (OTC: FRNV) announced today that it has acquired a high volume financial services store in Oxnard, California. This store cashes $40 million in checks and processes $11 million in money transfers per year. This one store doubles Frontera’s current check cashing and money transfer business. Frontera will take physical possession of the store after building permits are approved, which are expected within 30 days.
Frontera paid $575,000 for the store and expects a two year payback on its investment. The acquisition of this latest store was financed primarily through the issuance of common stock from insiders. Over the last seven months, Frontera has raised $1.6 million through issuance of common stock. Frontera now has seven stores (five full service branches and two manned kiosks) all located in Southern California.
Frontera utilizes advanced technology to offer competitive prices on a wide range of financial products and services, including check cashing, loans (payday and gold jewelry loans), money transfers, and tax preparation. Frontera’s mission is to be the first full service, low cost, Hispanic financial services brand servicing the alternative financial services market.
The Hispanic market is currently estimated at 40 million consumers, half are un-banked. About 35 percent of the total US households are un-banked or use alternative financial services companies.
“
Stumble it! |
|
Other posts that may interest you
Bidnow.com Inc. and Frontera International Inc. Sign LOI
Frontera Investment Announces Reverse Merger Into Bidnow.com
Timbiriche será mejor que RBD: Memo Méndez
Lanzará Vicente Fernández disco con temas de Joan Sebastian
Looks like Juanes is a hit in Japan
Hispanic and Latin American Acquisition Opportunities Examined » Adrants
Niega Chayanne necesite cantar en inglés para ser escuchado en EU
Andy Andy: El merengue necesita relevo
