International Merchant Advisors (Pink Sheets: IMAI) announced today that the company is actively engaged in negotiating the purchase of a national consumer lender. The lender currently offers its services in thirty states throughout the USA, and conducts its lending operations via the internet.
Mel Roseman, CEO of IMAI, stated "As reported just yesterday by the New York Times, the traditional banking institutions have made financing and refinancing very difficult today. Since these major banks and consumer lenders such as JP Morgan Chase, Bank of America, Wells Fargo, CIT (currently in bankruptcy) and CitiGroup have dramatically reduced or virtually eliminated new consumer lending, we believe there is a significant opportunity to fill this gap in the marketplace, and are currently negotiating to buy a national lender serving this growing but liquidity starved market. While there are no guarantees of IMAI successfully completing these negotiations, we believe it is a significant transaction and wanted to inform our shareholders of this important news relating to our possible entry into the consumer lending business."
About International Merchant Advisors, Inc.
International Merchant Advisors Inc. (IMAI) is an international business banker and builder of companies. IMAI provides direct access to the critical tools necessary to satisfy the growth requirements of international emerging and re-emerging public and private companies. These tools include providing mergers and acquisitions consulting, strategic advisory services, capital raising strategies, direct access to capital markets, and organizational development and business plan execution.
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