SALT LAKE CITY, April 18, 2007 (PRIME NEWSWIRE) -- Pacific Financial Lending, Inc., a wholly owned subsidiary of Pacific Financial Solutions, Inc. (Pink Sheets:PFUO), a leader in providing cashless ATM kiosks, Point-of-Banking (PBT) terminal technology, Alternative Financial Lending, Affinity "Gift to Give" prepaid gift and stored value cards, and complete TV, Radio and Print Media services, announced today the signing of an exclusive Installment Contract Financing agreement with College Financial Services, Inc. (CFS) to finance all educational program contracts.
"College Financial's success in helping parents along with students achieve their educational dreams of going to college, is only made possible through relationships like those with Pacific Financial Lending," stated Dr. Don Barbacovi, Chairman of CFS. Dr. Barbacovi continued, "This agreement with Pacific Financial Lending allows financing options that CFS will now offer to the numerous families attending our seminars that so urgently need our services."
Bruce Grogg, CEO of PFUO, stated, "When CFS approached us about financing their college and career planning and preparation programs, we were delighted to oblige." Mr. Grogg continued, "Based on College Financial's business and growth plan, the financing component will appreciably help both companies, but the number of lives we will help transform is what is most exciting to us."
College Financial Services, Inc. is anticipating approximately $8 million in financed contracts in 2007, $14 million in 2008 and $20 million in 2009. This agreement will significantly enhance Pacific's Lending division revenues with an estimated $800,000 in new revenues in 2007.
About College Financial Services, Inc.
College Financial Services, Inc. (www.collegefinancialservices.com) is a full-service college and career planning and preparation company. CFS offers a comprehensive set of resources and services to help students discover and achieve their career and educational goals. Our services help families gain immediate access to professional advice, powerful planning tools, and critical resource information to help them prepare their children for college.
About Pacific Financial Solutions, Inc.
Pacific Financial Solutions, Inc. (www.pfuo.com) is a premier global distributor of financial services and products providing its customers with a wide array of prepaid stored-value and kiosk enabling devices. Pacific is comprised of fully integrated divisions: Pacific Banking Services (Point-of-Banking terminals), Pacific Card Services, Pacific Financial Lending, Inc. which encompasses installment contract financing, pre-collections services, and commercial leasing, and Pacific Media Group, Inc., a full service TV, Radio, and Print advertising agency. Pacific's continued success is driven by corporate sales, ISO's sales as well as mergers & acquisitions.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words or phrases "would be," "would allow," "intends to'" "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These include the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.