Flagler Bank to Finance Union Dental's Expansion
June 16 2011 - 8:14AM
Union Dental Holdings, Inc. (Pink Sheets:UDHI) -
http://www.uniondental.com/ir - a Company that operates and
manages a network of dentists throughout the United States for
union members announced today it has received a loan from Flagler
Bank, along with and Small Business Administration (SBA) guarantee
on a ten year loan at Wall Street Journal Prime Rate plus 2.25%
which equals 6% interest.
As part of the financing commitment Flagler Bank not only is
going to finance the expansion but will also consolidate all of the
existing loans of the company into one loan.
Dr. George D. Green, President and CEO stated: "We are
extremely pleased to have Flagler Bank finance our business model
of providing all aspects of dentistry at one location having 22
operatories with certified specialists in Orthodontia, Periodontial
Surgery, IV Sedation, Implant Specialists and Oral
Surgery. The consolidation is very positive for our company
because of the low interest rate associated with the SBA financing
guarantee. We feel very fortunate to have an Investment Banking
agreement with J & C Global Securities, LLC who can provide
access to the equity markets and Flagler Bank who can give us
access to long term bank financing for more expansion. We look
forward to a cautiously optimistic future and having a long term
relationship with both Flagler Bank and J & C Global
Securities."
About Union Dental Holdings, Inc., Direct Dental
Services, Inc. and Union Dental Corp.
Direct Dental Services and Union Dental Corp. are wholly owned
subsidiaries. Direct Dental Services provides dentists with "areas
of exclusivity" to participate with various unions including the
Communications Workers of America (CWA) and the International
Brotherhood of Electrical Workers (IBEW), United Association of
Plumbers and Pipe Fitters (UA) and The Association of Flight
Attendants – Communications Workers of America
(AFA-CWA). Direct Dental Services receives annual management
fees from the dentists in exchange for practicing in these "areas
of exclusivity" where CWA and IBEW members use the dentists'
services. Union Dental manages a dental practice in Coral
Springs, Florida.
The Union Dental Holdings Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=8310
WEBSITE: www.uniondental.com
"Safe-Harbor" Statement: Under the Private Securities Litigation
Reform Act of 1995. This press release may contain
forward-looking information within the meaning of Section 21E of
the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), including all statements that are not statements of
historical fact regarding the intent, belief or current
expectations of the Company, its directors or its officers with
respect to, among other things: (i) the Company's financing plans;
(ii) trends affecting the Company's financial condition or results
of operations; (iii) the Company's growth strategy and operating
strategy; and (iv) the declaration and payment of dividends. The
words "may," "would," "will," "expect," "estimate," "anticipate,"
"believe," "intend," and similar expressions and variations thereof
are intended to identify forward-looking statements. Investors are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, many of which are beyond the Company's ability to
control, and that actual results may differ materially from those
projected in the forward-looking statements as a result of various
factors.
CONTACT: Jervis B. Hough
CEO of J&C Global Securities, LLC
jhough@jcglobalsecurities.com
Dr. George D. Green, President
info@uniondentalcorp.com
Xcelerate (QB) (USOTC:XCRT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Xcelerate (QB) (USOTC:XCRT)
Historical Stock Chart
From Jul 2023 to Jul 2024