OFEK Capital Corp has announced the formation of a new American factoring company to be known as AFC, and will be headed up by Mr Tibor Lowy as president. OFEK has also announced a $1m private placement with SMI (SecondaryMarkets.com, Inc- a company effectively controlled by OFEK that is aiming to develop into a major e-commerce-based mortgage-banking corporation).
OFEK hope that the formation of AFC and the development of SMI will provide them with an ideal business strategy to develop the expanding opportunities in the emerging sub-prime loan and factoring markets.
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