TORRINGTON, CONNECTICUT, May 7, 2019 – WorldBusiness Capital, Inc. (WBC) announced the closing of $7.5 million in long-term financing for Seitz LLC, a leading manufacturer of custom plastic injection molded components founded in 1949 and serving a wide range of industries.  WBC’s financing includes a $5 million 15-year loan to re-finance existing high-cost short-term debt, and a $2.5 million 15-year loan for facility improvements and purchases of new production equipment.  Both WBC loans are guaranteed by the U.S. Department of Agriculture (USDA) under its Business and Industry (B&I) Guaranteed Loan Program.

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EL PASO, TEXAS, May 7, 2019 – WorldBusiness Capital, Inc. (WBC), a top lender to middle market businesses, projects and financial institutions in Mexico, attracted significant interest in its loan programs during the 11th Annual Mexico Manufacturing Supply Chain Summit held in March in El Paso, Texas.  WBC was an active participant in the conference, which is sponsored by the international business publication, MexicoNow.  WBC focuses on lending to businesses and projects in Mexico with significant growth potential, including the automotive, aerospace, electronics, and medical sectors.

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JALISCO, MEXICO, April 8, 2019 – WorldBusiness Capital, Inc. (WBC) announced the closing of a new commercial term loan of $10 million for Mexico’s Operadora de Servicios Mega, S.A. de C.V. SOFOM, E.R. (Operadora Mega). WBC’s loan is guaranteed by Overseas Private Investment Corporation (OPIC), the U.S. Government agency that helps American businesses invest in emerging markets.  Proceeds of WBC’s loan will enable Operadora Mega to expand its lending capacity for loans and leases to small and medium-sized businesses throughout Mexico. This is WBC’s second loan to Operadora Mega.

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SAINT JOSEPH, MICHIGAN, April 2, 2019 – WorldBusiness Capital, Inc. (WBC) announced the closing of an $8.5 million, 10-year commercial term loan to Michigan-based Wolverine Metal Stamping, Inc. (Wolverine).  WBC is the only U.S. financial institution that has a framework agreement for loan guarantees with Bancomext, the Mexican Government’s export credit and development agency that finances Mexican companies competing in international markets.  Proceeds of WBC’s loan will be used by Wolverine to expand the production capacity of its operations in Mexico by financing the acquisition of new equipment, inventory purchases, and related working capital needs.

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CHEEKTOWAGA, NEW YORK, March 21, 2019 – WorldBusiness Capital, Inc. (WBC) announced the closing of $8 million in permanent long-term financing for a newly-constructed 53,000 sq. foot Holiday Inn Express hotel in Grand Island, New York, located in close proximity to Niagara Falls.  The project’s sponsors include Grand Island Hotels, LLC and the experienced hotel management firm, Rudra Management, Inc.  WBC’s financing is guaranteed by the U.S. Department of Agriculture (USDA) under its Business and Industry (B&I) Guaranteed Loan Program.

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