Press Release
Home > Press Release > Marketwire
Legends Business Group, Inc. Announces Two Hundred Thousand Dollar ($200,000) Debt Reduction
CASSELBERRY, FL -- (Marketwire) -- 09/24/08 -- Legends Business Group, Inc. (OTCBB: LGBS)announced today it will begin repaying loans made through its privaterevolving line of credit.
In April of this year Larry Powalisz, President and CEO of Legends BusinessGroup, Inc., took the unusual step of personally providing LGBS with arevolving line of credit in the amount of five hundred thousand dollars($500,000.00) (of which only three hundred and fifty thousand dollars($350,000) were borrowed). The monies were made available to enhanceinfrastructure and transition the company through an expected period ofexplosive growth.
With terms more favorable than what any lenders offered at that time, thefunds to be disbursed were repayable twelve (12) months from the date ofissuance at the accrued interest rate of twelve percent (12%) annually.
"A total of three loans were granted for one hundred thousand dollars($100,000), fifty thousand dollars ($50,000) and two hundred thousanddollars ($200,000) respectively. The ability to repay two hundred thousanddollars ($200,000) of these loans back in such a short time is attributedto the strong performance across our entire business model, driving recordclient sales throughout the first three quarters of the year. Despite thecurrent uncertain national economic environment, our business remains verysolid and our position continues to grow," said Larry Powalisz, Presidentand CEO of Legends Business Group, Inc.
About Legends Business Group, Inc.:
Legends Business Group, Inc. is an Over the Counter Bulletin Board stockwhich trades under the symbol LGBS. To obtain additional information aboutLegends Business Group, Inc., please visit the Company's website, which maybe found at: www.lbgi.net
This press release contains statements that are "forward-looking," andinvolve a number of risks and uncertainties. Statements that are nothistorical facts are considered forward-looking statements, and are subjectto Safe Harbor provisions as defined in the United States PrivateSecurities Litigation Reform Act of 1995. Company results and performancemay be materially different from future results, strategies, plans or goalsexpressed or implied by any forward-looking statements made herein. TheCompany disclaims any obligation to update or revise any forward-lookingstatements.
Contact:Legends Business Group, Inc.Larry Powalisz407-263-4029inquiries@lbgi.net
With terms more favorable than what any lenders offered at that time, thefunds to be disbursed were repayable twelve (12) months from the date ofissuance at the accrued interest rate of twelve percent (12%) annually.
"A total of three loans were granted for one hundred thousand dollars($100,000), fifty thousand dollars ($50,000) and two hundred thousanddollars ($200,000) respectively. The ability to repay two hundred thousanddollars ($200,000) of these loans back in such a short time is attributedto the strong performance across our entire business model, driving recordclient sales throughout the first three quarters of the year. Despite thecurrent uncertain national economic environment, our business remains verysolid and our position continues to grow," said Larry Powalisz, Presidentand CEO of Legends Business Group, Inc.
About Legends Business Group, Inc.:
Legends Business Group, Inc. is an Over the Counter Bulletin Board stockwhich trades under the symbol LGBS. To obtain additional information aboutLegends Business Group, Inc., please visit the Company's website, which maybe found at: www.lbgi.net
This press release contains statements that are "forward-looking," andinvolve a number of risks and uncertainties. Statements that are nothistorical facts are considered forward-looking statements, and are subjectto Safe Harbor provisions as defined in the United States PrivateSecurities Litigation Reform Act of 1995. Company results and performancemay be materially different from future results, strategies, plans or goalsexpressed or implied by any forward-looking statements made herein. TheCompany disclaims any obligation to update or revise any forward-lookingstatements.
Contact:Legends Business Group, Inc.Larry Powalisz407-263-4029inquiries@lbgi.net
For more information, go to www.marketwire.com
Recent Press Release
- 1 Digital Photo Frame Market Will Get Connected
- 2 Priceless Legacy Company Appoints Julie Davis to Legacy Consultant Position in Nebraska and Iowa
- 3 Koko the Gorilla Celebrates 38th Birthday, Makes Three Wishes
- 4 New Website Provides A Free List Of The Top Ten Chicago Real Estate Deals
- 5 Warrior Custom Golf Assists the Orange County United Way 2009 Fundraising Campaign
- 6 Kerching Online Casino Competition Winner Revealed
- 7 MyFirePits.com Announces Grand Opening
Advertisement
70% Profit in Less Than an Hour
Take profit from the markets roller coaster. No downloads, no commissions, no spreads.
Press Release Distribution - IBwire
Effective and Affordable Press Release Distribution Service
Option Trading Was Never So Easy
Come and experience the trading platform that everyone talks about. Simple, fast and exciting.









