Advance Payroll Funding LTD to launch Endeavor Funding Services
CLEVELAND, OHIO – November 10, 2008 – Advance announced today its launch of Endeavor Funding Services. Advance has been in the business of providing integrated funding solutions to the Temporary Staffing and Contract Labor industries for the past 10 years. Having grown to over $700,000,000 in annual funding volume and recognizing a market opportunity to expand beyond its' current niche, Endeavor will serve an expanded set of industries in the capacity of secured lender/factor. "With a proven track record and hundreds of extremely satisfied clients in our Advance business, we made the deliberate decision to expand into additional lines of business and create a new entity to serve industries outside temporary staffing. Our current strong balance sheet and increased access to commercial credit facilities have put us in the unique position to grow during a time of financial distress in many sectors of the economy. Our credit and service teams have performed at an extremely high level, enablling our clients to grow with measured risk and exposure while protecting the overall quality of our portfolio.", said Steve Levy, Vice President.
"It remains imperative for us to segregate our business lines and commitments. Our focus on temporary staffing and the singular niche which Advance serves shall remain. Endeavor provides the opportunity to grow in new directions while maintaining our commitment to superior knowledge, customer service and product offerings to the staffing industry.", said Joel Adelman, President.
STATEMENT: Information in this release may involve plans, strategies, expectations, beliefs, or intentions regarding the future. These forward-looking statements involve uncertainties and risks.Any and all forward-looking statements included in this release are based upon information available to Endeavor Funding Services as of the date of the release. We assume no obligation to update any such forward-looking statement. The statements in this release are not guarantees of future performance and actual results could differ materially from our current expectations. Numerous factors could cause or contribute to such differences. These factors include, but are not limited to: changes in market and competition, technological and competitive developments and potential downturns in general economic conditions.
